The global Serverless Security Market size is expected 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 the forecast period. Serverless security is to create a protection around the functions inside the software operated. The serverless architecture needs protection from various threats hence the need of serverless security solutions. Increase in the misconfiguration, proliferation of microservices architecture, compliance concerns in traditional cloud computing to boost the growth of serverless security market.
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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, DoS, improper exception handling, and vulnerability management. Hence, the demand for serverless security is quickly gaining traction globally.
By service model, Function-as-a-Service (FaaS) segment to hold the largest market size during the forecast period
FaaS is a type of cloud-computing service (a subset of serverless) that allows developers to run a code in response to events. With FaaS, developers can spend more time writing the application code logic and less time worrying about server allocation, deployments, and backend services. FaaS simplifies the deployment of applications on the cloud. In this, all features of the application are deployed into a single independent feature, and then each feature is individually hosted by the provider. Compared to BaaS, FaaS offers a greater degree of control to the developers who create custom apps rather than relying on a library of prewritten services. AWS (AWS Lambda), Microsoft Azure (Azure Functions), Google Cloud Platform with multiple offerings, and IBM (IBM Cloud Functions) are the major providers of FaaS.
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).
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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their presence in the serverless security market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2021 to innovate their offerings and broaden their customer base.
Palo Alto Networks founded in 2005 and is headquartered in California, US. The company is a pioneer of network security solutions that enable its clients to safely run applications on their networks and prevent any security breaches or targeted cyberattacks. It addresses the world’s greatest security challenges with continuous innovations that seize the latest breakthroughs in AI, analytics, automation, and orchestration. The company offers Prisma Cloud that delivers a full lifecycle serverless security for AWS Lambda, Azure Functions, and Google Cloud Functions. It protects applications during development and runtime against vulnerabilities, compliance violations, web apps, and API attacks. In April 2021, the company introduced innovations to Prisma Cloud to help organizations secure unprotected cloud workloads and deep visibility into malware threats for containers, serverless, and hosts applications.
Microsoft was founded in 1975 and headquartered in Washington, US. It develops and supports software, services, devices, and solutions. Its product offerings include Operating Systems (OS), cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft’s Azure is an event-based serverless compute platform designed to accelerate the development process. This platform can be scaled based on demand, and its charges are based on resources consumed by users. Microsoft’s Azure platform provides serverless applications that focus on compute, storage, database, security and access control, cloud messaging, workflow orchestration, API management, analytics, and intelligence.
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