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Serverless Computing Market worth $44.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 18, 2024 /PRNewswire/ — The Serverless Computing Market is expected to grow from USD 21.9 billion in 2024 to USD 44.7 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 15.3% during the forecast period, according to new research report by MarketsandMarkets™.

Browse in-depth TOC on “Serverless Computing Market ”
249 – Tables49 – Figures270 – Pages
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Scope of the Report
Report Metrics
Details
Market Size Available For Years
2019–2029 
Base Year Considered
2023
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Segments Covered
Service Type, Service Model, Deployment Mode, Organization Size, Vertical and Region  
Regions Covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies Covered
AWS (US), Microsoft (US), IBM (US), Google (US), Oracle (US), Alibaba Cloud (China), Tencent Cloud (China), Twilio (US), Cloudflare (US), MongoDB (US), Netlify (US), Fastly (US), Akamai (US), Digitalocean (US), Datadog (US), Vercel (US), Spot by NetApp (US), Elastic (US), VMware (US), Backendless (US), Faundb (US), Scaleway (US), 8Base (US), Supabase (US), Appwrite (US).
The expected growth in the global serverless computing market is driven by the increasing adoption of AI and machine learning technologies. The worldwide expansion of serverless computing is largely attributed to the widespread acceptance of these advanced technologies. The demand for serverless (FaaS/BaaS) solutions is expected to increase in verticals like IT, finance and healthcare that are looking at better scalability, operational efficiency and reduced costs through application development. Increased investment in expanded analytics market along with automation technologies is expected to boost the forecasted revenues, thereby augmenting better management of applications and real-time data processing. These advances will support decision-making capabilities, additional resource alignment and enable innovative tools to work across teams. This means that serverless computing will be expanded in the future, mainly due to this service orchestration solution provided by functions becoming more and moreso outside traditional business systems.
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As per service model, the backend-as-a-service (BaaS) will grow at the highest CAGR during the forecast period.
Backend-as-a-service (BaaS) is essential in the serverless computing sector, making backend tasks easier through different managed services. BaaS provides fundamental functionalities like file storage and management, user authentication and management, database management, and push notification delivery. By outsourcing these backend duties to external firms, developers can focus on front-end development and application logic, leading to faster development and decreased operating expenses. This method facilitates smoothly incorporating different backend services, allowing for scalable and effective app development. With organizations looking to improve their development processes, BaaS offers a way to increase flexibility and streamline backend operations in serverless computing.
As per vertical, IT & Telecom holds the largest share during the forecast period.
The IT & telecom industry leads the way in the serverless computing market, utilizing its features to promote innovation and productivity. Serverless computing helps telecom companies improve operations by reducing the need to manage infrastructure and scaling as needed to accommodate changing demands. This vertical sees major advantages from serverless architectures in network function virtualization (NFV), real-time data processing, and content delivery networks (CDNs). Implementing serverless models enables IT & telecom providers to improve service delivery, decrease latency, and optimize resource usage. By incorporating serverless computing into their operations, these businesses can quickly implement new capabilities, uphold high availability, and meet the rising need for digital services, all while cutting operational costs and complexity to stay ahead in a fast-changing tech environment.
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As per region, Asia Pacific will grow at the highest CAGR during the forecast period.
The rapid growth of the serverless computing market in the Asia-Pacific region is due to the quick uptake of cloud technologies, digital transformation projects, and strong tech communities in nations such as China, India, and Japan. This area, with its different economies and levels of technology, is starting to realize more and more the advantages of serverless computing for scalability, cost saving, and speeding up innovation. Effective and economical cloud options are vital in industries like e-commerce, finance, telecommunications, and manufacturing, where serverless designs are improving functions and service provision. However, in addition to the opportunity that challenges such as adhering regulations or where data needs to (or does not need to) reside may provide, there are also level differences of cloud infrastructure readiness across the region.
Companies which provide clouds on a massive scale, AWS, Microsoft Azure and Alibaba Cloud are spending up large in Asia at the moment building data centers right across every country making sure they meet all of these key regulations. Furthermore, governments in the area are pushing for digitization and positive regulatory environments driving interest towards cloud technology as well. Continued digital infrastructure investments and growing adoption of cloud-native technologies in enterprises in Asia-Pacific are expected to drive strong growth in the market for serverless computing, particularly among companies in the digital economy sector.
Top Key Companies in Serverless Computing Market:
Some of the key players operating in the Serverless Computing Market are – AWS (US), Microsoft (US), IBM (US), Google (US), Oracle (US), Alibaba Cloud (China), Tencent Cloud (China), Twilio (US), Cloudflare (US), MongoDB (US), Netlify (US), Fastly (US), Akamai (US), Digitalocean (US), Datadog (US), Vercel (US), Spot by NetApp (US), Elastic (US), VMware (US), Backendless (US), Faundb (US), Scaleway (US), 8Base (US), Supabase (US), Appwrite (US).
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Get access to the latest updates on Serverless Computing Companies and Serverless Computing Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
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Common global marketing standards vital to boost trust in an age of disruptions, says ICC

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PARIS and NEW YORK, Sept. 19, 2024 /PRNewswire/ — The world’s largest business association – the International Chamber of Commerce (ICC) – has issued a call for advertisers and marketers to step up as champions of robust ethical standards in the face of multiple industry disruptions and potential challenges to industry self-regulation.

The call comes as ICC today releases a major update of its Advertising and Marketing Communications Code – the 11th edition of the code that has been the global backbone of advertising self-regulation for more than 85 years.
With a range of factors disrupting and reshaping the advertising market – from the rise of artificial intelligence in marketing communications to the growth of influencer marketing and increasing importance of climate issues – the global business body has pointed to the imperative for all participants in the industry to advocate for the widespread adoption of core standards to build trust among consumers and policymakers alike. 
ICC Secretary General John W.H. Denton AO said: “When we first issued the ICC Code in 1937 the world was a lot simpler. There was no TV, let alone the Internet. But what’s incredible is that the principles remain the same. Legal, decent, honest and truthful – the four foundations of the ICC Code – are as relevant in today’s fast paced media and marketing landscape as they were back then.”
“At a time of significant global disruptions – and with some policymakers reaching instinctively for the statute book in response to perceived challenges – robust global advertising standards matter more than ever.” 
This first comprehensive update of the ICC Code in a decade – informed by over a year of consultations with industry experts – tackles a range of contemporary challenges such as sustainability, AI and influencer marketing. It also incorporates clarified provisions in a range of areas, including marketing aimed at children and teens. 
Key new features include:
New guidelines on the use of algorithms and AI in preparing and delivering marketing communications Encouraging advertisers to be mindful of diversity and the importance of avoiding objectification stereotypes Clear provisions on influencer marketing and the responsibility of influencers and content creators Updated standards for green claimsClarified rules regarding children, teens and minors. Media Contact :
Randa EL TAHAWYPR & Communications [email protected] M: +33 6 45 12 82 62
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Artificial Intelligence

Pudu Robotics Unveils their PUDU D7 Semi-Humanoid Robot, Showcasing Breakthrough Capabilities and Strategic Vision for Humanoid Robotics

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SHENZHEN, China, Sept. 19, 2024 /PRNewswire/ — Pudu Robotics, a global leader in service robotics, has unveiled its latest innovation, the PUDU D7, the company’s first general embodied intelligent semi-humanoid robot. This robot represents a significant advancement in the company’s mission to develop cutting-edge solutions that address persistent operational challenges faced by businesses worldwide. With full commercialization anticipated in 2025, the PUDU D7 reinforces Pudu Robotics’ position at the forefront of the service robotics industry.

Understanding Semi-Humanoid Robots
In May of this year, Pudu Robotics introduced the “semi-humanoid robot” concept as part of its long-term strategic vision for the service robotics industry. Pudu Robotics focuses on developing three distinct categories of robots: specialized robots designed for specific tasks, semi-humanoid robots built for adaptable and versatile applications, and fully humanoid robots for complex human interactions.
Each type of robot addresses different needs within the service robotics sector, enhancing operational efficiency and customer experience. This forward-thinking strategy opens the door to a future where robots can seamlessly perform a wide range of tasks across various environments, offering exciting possibilities for advancing humanoid robotics.
The PUDU D7, as a semi-humanoid robot, integrates advanced mobility and dexterity by combining a human-like upper body with robotic arms and a fully omnidirectional chassis. This design allows it to handle complex tasks in diverse environments, ranging from service-oriented spaces to industrial settings, marking a significant step towards adaptable robotic solutions for multiple industries.
PUDU D7’s Core Specifications and Innovative AI
Developed by Pudu X-Lab, Pudu Robotics’ R&D arm, the PUDU D7 stands 165 cm tall and weighs 45 kilograms. The robot’s bionic arm extends to 65 cm and operates with 30 degrees of freedom, expanding to 50 degrees with a dexterous hand attachment. These capabilities enable the PUDU D7 to excel in elevator operation, item transport, and sorting tasks.
The PUDU D7 is powered by a battery exceeding 1 kWh, enabling it to operate continuously for over 8 hours. It features 360-degree omnidirectional movement, a maximum speed of 2 m/s, and maintains stability on slopes up to 10 degrees. Additionally, its bionic arms can lift 10 kilograms, with the end-point precision of the arm reaching 0.1 millimeters.
Pudu Robotics has equipped the PUDU D7 with a multi-layered intelligence system designed to merge data-driven embodied intelligence with advanced AI model strategies. By employing a hierarchical control system, often described as “high-level planning” and “low-level planning,” the PUDU D7 is able to intelligently manage both abstract, strategic tasks and real-time, sensory-based actions. This layered approach enables the semi-humanoid robot to not only understand and respond to complex service scenarios but also continuously learn and refine its operations over time.
With its adaptability and embodied intelligence the PUDU D7 is poised to deliver seamless, end-to-end task execution across multiple industries, driving the large-scale commercialization of semi-humanoid service robots.
Statement
“We are excited to introduce the PUDU D7, which highlights our commitment to continuous technological and product innovation. Featuring advanced mobility, versatile operational capabilities, and embodied intelligence, this semi-humanoid robot marks a significant milestone in our pursuit of a diverse range of robotic solutions,” said Felix Zhang, Founder and CEO of Pudu Robotics. “By advancing a comprehensive ecosystem of specialized robots, semi-humanoid robots, and humanoid robots, we aim to shape the future of the service robotics industry and deliver exceptional value across various applications.”
Pudu Robotics’ Focus on Practical Solutions and Future-Ready Humanoid Robotics
Pudu Robotics continues to prioritize real-world customer needs while laying the groundwork for the future of service robotics. The PUDU D7 embodies this mission, offering advanced solutions that streamline repetitive tasks, enabling businesses to focus on more strategic operations. Pudu’s commitment to data security is paramount, with anonymized data collection practices and ISO/IEC certifications ensuring customer trust and compliance.
Pudu Robotics endeavors to continue investing in humanoid and semi-humanoid robotics by further developing dexterous robotic systems like the PUDU D7. By advancing these technologies, Pudu aims to create versatile robots that excel across multiple industries. The company’s innovations in semi-humanoid and humanoid robotics will not only enhance its existing product range. Still, Pudu Robotics will also pioneer new possibilities for intelligent automation, cementing its leadership in the global robotics market.
About Pudu Robotics
Pudu Robotics, a global leader in the service robotics sector, is dedicated to enhancing human productivity and living standards through innovative robot technology. With a focus on R&D, manufacturing, and sales of service robots, Pudu Robotics holds nearly a thousand authorized patents worldwide, encompassing a wide range of core technologies.
The company’s robots have been widely adopted in various industries, including dining, retail, hospitality, healthcare, entertainment, education and manufacturing. To date, Pudu Robotics has successfully shipped over 80,000 units to a variety of markets, with a presence in more than 60 countries and regions worldwide. For more information on business developments and updates, follow PUDU on LinkedIn, Facebook, YouTube, Twitter and Instagram.
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Artificial Intelligence

Infosys and Posti Extend Strategic Collaboration

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To help Posti enhance customer experience and operational efficiency with an AI-first strategy leveraging Infosys Topaz
BENGALURU, India, Sept. 19, 2024 /PRNewswire/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced it is extending its strategic collaboration with Posti, the leading delivery and logistics services provider in Finland, Sweden, and the Baltics. As part of the engagement, Infosys will help Posti enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations.

Infosys will adopt an AI-driven approach powered by Infosys Topaz, an AI-first offering using generative AI technologies, to empower Posti with operational efficiencies and service quality. Additionally, Infosys Cobalt will leverage its Live Enterprise Application Management Platform (LEAP), a cloud-enabled platform, to provide NextGen Application Management Services for enterprises to accelerate their cloud journey to help drive business productivity.
In the last five years through the collaboration, Infosys has helped Posti improve the resilience of IT systems, reduce outages and disruptions, and improve Posti’s ability to prevent and respond to cyber threats. Infosys has helped Posti modernize the front-end consumer-facing applications and replace legacy systems and processes.
Petteri Naulapää, CIO & SVP, ICT and Digitalization, Posti Group, said, “We are pleased to announce the renewal of our collaboration with Infosys for another seven years. By harnessing the power of AI through Infosys Topaz and cloud capabilities through Infosys Cobalt, we aim to create a more efficient and customer centric organization. The collaboration with Infosys will accelerate our digital transformation journey and help us deliver exceptional services, optimize our operations, and strengthen our position as a leading delivery and logistics provider.”
Karmesh Vaswani, EVP and Global Head Retail, Consumer Goods & Logistics, Infosys, said, “Building on our growing presence in the Nordics and proven expertise in AI-powered transformation, Infosys is thrilled to announce the renewal of our strategic collaboration with Posti. This extension demonstrates our unwavering commitment to delivering next-generation services and solutions specifically tailored to address the unique challenges faced by our clients in the Nordics. By leveraging cutting-edge Gen AI alongside our comprehensive digital suite, we aim to propel Posti’s competitiveness even further within Finland, Sweden, and the Baltics. This next phase of our work will empower Posti to not only become a leader in the logistics and e-commerce sector, but a true digital frontrunner in the Nordics.”
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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