< Key Hightlight >

MarketsandMarkets forecasts the global Serverless security market size to grow from USD 1.4 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.9% during 2021–2026. Serverless architectures are prone to several security risks such as event injection, broken authentication, insecure deployment settings, over-privileged function permission and roles, insufficient logging and monitoring, improper exception handling, and vulnerability management. These act as major drivers for the Serverless security market.

Among security type, network security segment to grow at the highest CAGR during the forecast period

Network security is the technique of securing networks from advanced threats on the serverless architecture. Sophisticated threats are negatively impacting the serverless computing platform by evading network defenses and targeting vulnerabilities in the system. With the growth in cloud adoption, the chances of misconfigurations have increased significantly. Serverless security helps monitor serverless applications to prevent unauthorized access and misuse of networking resources. The key trends that contribute to the serverless network security market growth are the growing usage of cloud computing services and serverless architectures. Hence is expected to grow at the highest CAGR.

Large enterprises segment to hold a larger market size during the forecast period

The adoption of serverless security among large enterprises is high due to the ever-increasing demand for cloud automation and serverless models, and the trend is expected to continue during the forecast period. Large enterprises are heavily investing in advanced technology to increase the company’s overall productivity and efficiency. With the ever-increasing amount of data, large enterprises need to invest in IT and security infrastructure. The shift of large enterprises to DevOps and microservices architectures has become more eminent. Hence, large enterprises are implementing serverless security to mitigate serverless security risks such as event injection, broken authentication, insecure app secret storage, and improper exception handling.

Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC experiences considerable security spending owing to the ever-growing threat landscape of the region. APAC is expected to provide significant growth opportunities during the forecast period. The untapped potential markets, high penetration of advanced technologies, growth in application development in various industries, and economic developments and government regulations are expected to drive the serverless security market during the forecast period. An increasing number of organizations in APAC are migrating their legacy data center processes to a serverless environment. This causes problems such as insecure configuration, function permissions, and event data injection, thereby driving the need for serverless security. Increasing advancements in mobility and cloud adoption and growing mandatory compliances with government regulations to resolve data security issues have forced enterprises to adopt serverless security solutions.

 By Company: Tier I: 40%, Tier II: 35%, and Tier III: 25%

 By Designation: C-Level Executives: 45%, Directors: 30%, Others: 25%

 By Region: North America: 35%,: APAC 30%, Europe: 30%, Rest of World: 15%

The report includes the study of the key players offering Serverless security solutions and platforms. It profiles major vendors in the global Serverless security market, including AWS (US), Microsoft (US), Google (US), Palo Alto Networks (US), Imperva (US), Aqua Security (Israel), Signal Sciences  (US), Rackspace (US), Micro Focus (UK), Serverless (US), IBM (US), Sophos (UK), Cisco (US), Fortinet (US), Oracle (US), Check Point (Israel), Cloudflare  (US), Sysdig  (US), Deepfence (US), Stackery  (US), StackPath (US), Lumigo  (US), Thundra (US), Snyk (England), Alcide (Israel) etc.

Research coverage

The report segments the global Serverless security market by service model, security type, organization size, vertical, and region. The service model segment comprises Backend-as-a-Service (BaaS) and Function-as-a-Service (FaaS). The security type segment comprises data security, network security, perimeter security, application security, and other security types include endpoint, policy management, operations, and monitoring and response. The organization size segment comprises SMEs and large Enterprises. The deployment mode segment comprises of public and private mode. By vertical, the serverless security market has been segmented into BFSI, telecommunications, retail and eCommerce, healthcare, IT and ITeS, energy and utility, media and entertainment, and others. The other verticals include transportation and logistics, education, and travel and hospitality. The report covers the BaaS market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. 

The report would help the market leaders and new entrants in the global BaaS market in the following ways:

1. The report segments the market into various subsegments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across service model, security type and regions.

2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.

3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.