Serverless Architecture Market Size, Share, Growth Analysis, By Deployment Model(Public Cloud, Private Cloud, and Hybrid Cloud), By Vertical(BFSI, IT and Telecommunications, Retail and Ecommerce, Healthcare and Lifesciences), By Service Type(Automation And Integration, API Management, Design and Consulting, Monitoring), By Organization size(Large enterprises and SMEs), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45I2091 | Region: Global | Published Date: September, 2024
Pages: 197 |Tables: 62 |Figures: 75

Serverless Architecture Market Insights

Global Serverless Architecture Market size was valued at USD 8.01 billion in 2022 and is poised to grow from USD 9.84 billion in 2023 to USD 50.86 billion by 2031, growing at a CAGR of 22.8% in the forecast period (2024-2031).

The increased usage of software technologies and improvements in information technology tools across various sectors are key factors driving the serverless architecture market growth. Cost-effectiveness through serverless architecture, faster deployments, better and easier management, and access to multiple models based on size and deployment mode are also contributing to the rapid expansion. Low-cost IT solutions, such as serverless architectures, have become more appealing for a majority of organizations worldwide as the latter seek efficient ways to save on infrastructure investments while improving their performance. Growth in demand over the next few years is expected to be fueled by such advantages of establishing serverless systems as quicker time-to-market transitions, upgraded scalability, and reduced costs. Some more reasons why this industry has been on the move include how serverless architecture is well suited for multi-programming languages, the microservices aspect, and being in place for contemporary application development. More studies and research within the area, with further deployment to areas such as retail, telecommunication, banking, entertainment, and health are opening new areas to newer companies who are introducing a myriad of services. The market is growing significantly with increased demand from organizations looking for agile, scalable, and cost-effective solutions. In addition, ongoing technological advancements and innovations related to serverless computing would continue to drive the serverless architecture industry forward by helping companies deliver more flexible and efficient solutions in relation to changing business needs.

Market snapshot - 2024-2031

Global Market Size

USD 8.01 billion

Largest Segment

Large Enterprises

Fastest Growth

Small & Medium-Sized Enterprises

Growth Rate

22.8% CAGR

Global Serverless Architecture Market ($ Bn)
Country Share for North America (%)

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Serverless Architecture Market Segmental Analysis

The Global Serverless Architecture Market is segmented by deployment, end-user, service type and region. Based on deployment, the market can be segmented into public cloud, private cloud, and hybrid cloud. Based on vertical, the market is segmented into BFSI, IT and Telecommunications, Retail and Ecommerce, Healthcare and Lifesciences, Government and Public Sector, Manufacturing and others. Based on service type, the market is segmented into Automation and Integration, API Management, Design and Consulting, Service Types, Monitoring, Security, Analytics, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. 

Analysis by Deployment  

As per the 2023 serverless architecture market analysis, the highest revenue share was of the public cloud deployment category, which increased due to factors such as increased acceptance brought about by its improved flexibility, scalability, and affordability. Public cloud solutions ensure effective resource management by allowing enterprises to automatically modify their computing and storage resources according to their demands. They also include strong data security features, such as encryption and adherence to industry standards. In addition, public cloud providers maintain large data networks across the globe, so companies can establish serverless apps closer to customers for faster speed and reduced latency. Public cloud deployment is an option preferred by companies of different industries primarily because of its scalability and flexibility and secure yet affordable service. 

However, the hybrid cloud category is expected to grow the fastest over the projection period. This growth is being led primarily by the growing adoption of serverless computing, which frees up businesses to concentrate more on their core business operations by getting rid of the need to manage servers. Businesses now use services such as AWS, Azure, and Google Cloud to exploit public cloud for non-sensitive operations and reserve sensitive data and critical apps to private clouds. Advancement in networking technologies further bolsters the interconnect and integration of private and public cloud infrastructures that allow a business to go for a hybrid cloud and ensure seamless operation. 

Analysis By Organization Size 

Based on the 2023 serverless architecture market forecast, large enterprises dominate the global market. The main reason is that companies increasingly require better data protection and cloud automation. Large businesses tend to invest more in research and the adoption of new technologies, such as cloud computing services, that reduce overhead costs and scale operational efficiencies. Serverless architecture comes in handy because it saves large enterprises from buying and maintaining costly servers. This will enable enterprises to move towards a pay-per-use model, which has significantly reduced the cost of infrastructure. Therefore, large enterprises will be able to optimize their cloud computing infrastructure, decrease capital expenditures, and sustain high operational flexibility, which explains why they are at the top in the market. 

However, the small and medium enterprises (SMEs) segment will have the highest compound annual growth rate (CAGR) during the forecast period. The World Bank postulates that by 2030, the global industries will create more than 600 million jobs to include the growing workforce. As a result, many governments push for SME growth. The drive for this sector is mainly hinged on the growing demand for cost-effective technological solutions. Now, SMEs are applying cloud services, such as serverless architecture, to reduce operations costs and increase efficiency. Service providers are also increasingly specializing in developing tailored solutions for SMEs, a development that will fuel their adoption of cloud computing technologies and continue to grow the market in the years to come.

Global Serverless Architecture Market By Organization Size

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Serverless Architecture Market Regional Insights

With a revenue share of 37.4% in 2023, the North American serverless architecture market dominated the industry. Strong technological environment and widespread use of cloud computing are responsible for the growth. In terms of both usage and innovation in cloud computing, North America has been a leader. North America hosts the head offices and large data centers of prominent cloud service providers such as AWS, Microsoft Azure, and Google Cloud. Further, it is also the investment hub for cloud computing and other technologies and for technical innovation. The expansion of this regional business is also being supported by the availability of massive funding and constant R&D in the field. 

However, Asia-Pacific serverless architecture market is anticipated to grow at the fastest rate during the forecast period. The increasing adoption of cloud computing services and technical advancements in the region significantly impact this business. This regional sector has emerged lately due to entry from some foreign companies into a region that is involved in most different industries. Increasing investment also resulted from the use of automation and growth of the environment related to startups. More significantly, during the forecast period, an investment that will boost their respective technologies and digital transformations and push for their investments in it is expected by governments and businesses.

Global Serverless Architecture Market By Geography
  • Largest
  • Fastest

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Serverless Architecture Market Dynamics

Serverless Architecture Market Drivers 

Flexibility and Scalability 

Serverless computing ensures that businesses are not worried about infrastructure constraints in handling varying workloads since it dynamically scales up or down according to demand. Businesses with erratic traffic patterns would particularly benefit from this flexibility, which guarantees that they can effectively manage resources and sustain high performance without manual intervention. 

Improved Developers' Productivity 

Serverless computing isolates infrastructure administration, allowing developers to focus on writing code rather than managing servers. This means that because developers do not have to deal with server provisioning, scalability, or patching, productivity is increased. The streamlined environment allows for more innovative and rapid adaptability to company demands, thus increasing overall development efficiency. 

Serverless Architecture Market Restraints 

Limited Control Over the Infrastructure 

Companies that adopt a serverless architecture may have little control over the underlying infrastructure because they have to rely on other cloud providers to deal with their infrastructure. This may bring problems concerning data security, compliance, and personalization because businesses depend on the provider's ability and policies. 

Complex Monitoring and Debugging 

Although serverless apps avoid the hassle of infrastructure administration, it is not always easy to debug, monitor, or troubleshoot. The difficulty is in the fact that due to the dispersed nature of the architecture; it might be very difficult to pinpoint problems across different functions and services. This means IT teams might find it a bit harder to track everything in real time and solve operational problems instantly. 

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Serverless Architecture Market Competitive Landscape

The serverless architecture market is intensely competitive with the major cloud players such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud dominating it. The competitors offer stiff serverless alternatives with different feature sets and cost structures, such as AWS Lambda, Azure Functions, and Google Cloud Functions. Serverless platforms are also increasingly being launched by startups and smaller businesses. Continuous improvements in development tools, security, and scalability are also some of the factors that give a competitive edge to the market. 

Serverless Architecture Market Top Player’s Company Profiles

  • Amazon Web Services (AWS) (US) 
  • Microsoft Corporation (US) 
  • Google LLC (US) 
  • IBM Corporation (US) 
  • Alibaba Cloud (China) 
  • Oracle Corporation (US) 
  • Cisco Systems, Inc. (US) 
  • VMware, Inc. (US) 
  • Rackspace Technology, Inc. (US) 
  • Salesforce.com, Inc. (US) 
  • Cloudflare, Inc. (US) 
  • Platform9 Systems, Inc. (US) 
  • OpenStack Foundation (US) 
  • PubNub, Inc. (US) 
  • Spotinst Ltd. (Israel) 
  • 5 Networks, Inc. (US) 
  • DigitalOcean, Inc. (US) 
  • Kong Inc. (US) 
  • Back4App (US) 
  • Netlify, Inc. (US) 
  • Vercel Inc. (US)

Serverless Architecture Market Recent Developments

  • Cloudflare bought Baseline, a cloud-native observability platform startup, in April 2024 to enhance its observability capabilities. This strategic move further strengthens Cloudfare's position in the serverless computing industry and enables the company to offer a more comprehensive and advanced serverless solution. 
  • Alibaba released a serverless Generative-AI solution in January 2024, allowing companies to utilize Gen-AI capabilities. This serverless version of Platform for A.I. (PAI)-Elastic Algorithm Service (EAS), Gen-AI is announced to be intended to provide solutions to organizations at lower costs and better performance levels. 
  • Pinecone released the public preview of its new serverless vector database in January 2024. The database is designed to save infrastructure administration costs while increasing the accuracy of generative AI applications. 

Serverless Architecture Key Market Trends

  • Event-Driven Architectures: One of the serverless architecture market trends is the event-driven systems expansion. Serverless platforms best match event-driven workloads. Those are applications where certain events or data changes trigger other specific actions. Since it activates the services only when they are needed, it has better resource efficiency; this is very helpful for workflow-like applications, real-time analytics, and IoT. 
  • Serverless Database Integration: Serverless databases are increasingly being integrated with more serverless architectures to drive dynamic scalability based on demand. Serverless database solutions developed by providers such as Amazon Aurora Serverless and Azure Cosmos DB improve the overall experience of serverless by eliminating the manual efforts required for database scalability and administration and hence are easier to use as well as cheaper. 

Serverless Architecture Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research. 

As per SkyQuest analysis, the serverless architecture market is growing fast because of its affordability and scalability and the potential to elevate developer productivity. Serverless computing presents a very attractive alternative for the companies looking for effective, yet adaptable and low-maintenance solutions, through the process of removing server administration requirement and quicker application deployment. The future of the market is expected to be dominated by continuous developments in cloud technologies and integration with microservices, edge computing, and multi-cloud settings despite the existence of hurdles such as vendor lock-in, security concerns, and debugging complexities. The market will continue to grow across multiple industries as serverless technologies progress and allow companies to scale efficiently and innovate while reducing infrastructure costs. 

Report Metric Details
Market size value in 2022 USD 8.01 billion
Market size value in 2031 USD 50.86 billion
Growth Rate 22.8%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Deployment Model
    • Public Cloud, Private Cloud, and Hybrid Cloud
  • Vertical
    • BFSI, IT and Telecommunications, Retail and Ecommerce, Healthcare and Lifesciences, Government and Public Sector, Manufacturing, Others
  • Service Type
    • Automation And Integration, API Management, Design and Consulting, Monitoring, Security, Analytics, Others
  • Organization size
    • Large enterprises and SMEs
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Amazon Web Services (AWS) (US) 
  • Microsoft Corporation (US) 
  • Google LLC (US) 
  • IBM Corporation (US) 
  • Alibaba Cloud (China) 
  • Oracle Corporation (US) 
  • Cisco Systems, Inc. (US) 
  • VMware, Inc. (US) 
  • Rackspace Technology, Inc. (US) 
  • Salesforce.com, Inc. (US) 
  • Cloudflare, Inc. (US) 
  • Platform9 Systems, Inc. (US) 
  • OpenStack Foundation (US) 
  • PubNub, Inc. (US) 
  • Spotinst Ltd. (Israel) 
  • 5 Networks, Inc. (US) 
  • DigitalOcean, Inc. (US) 
  • Kong Inc. (US) 
  • Back4App (US) 
  • Netlify, Inc. (US) 
  • Vercel Inc. (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Serverless Architecture Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Serverless Architecture Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Serverless Architecture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Serverless Architecture Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Serverless Architecture Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Serverless Architecture Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Serverless Architecture Market size was valued at USD 8.01 billion in 2022 and is poised to grow from USD 9.84 billion in 2023 to USD 50.86 billion by 2031, growing at a CAGR of 22.8% in the forecast period (2024-2031).

The serverless architecture market is intensely competitive with the major cloud players such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud dominating it. The competitors offer stiff serverless alternatives with different feature sets and cost structures, such as AWS Lambda, Azure Functions, and Google Cloud Functions. Serverless platforms are also increasingly being launched by startups and smaller businesses. Continuous improvements in development tools, security, and scalability are also some of the factors that give a competitive edge to the market.  'Amazon Web Services (AWS) (US) ', 'Microsoft Corporation (US) ', 'Google LLC (US) ', 'IBM Corporation (US) ', 'Alibaba Cloud (China) ', 'Oracle Corporation (US) ', 'Cisco Systems, Inc. (US) ', 'VMware, Inc. (US) ', 'Rackspace Technology, Inc. (US) ', 'Salesforce.com, Inc. (US) ', 'Cloudflare, Inc. (US) ', 'Platform9 Systems, Inc. (US) ', 'OpenStack Foundation (US) ', 'PubNub, Inc. (US) ', 'Spotinst Ltd. (Israel) ', '5 Networks, Inc. (US) ', 'DigitalOcean, Inc. (US) ', 'Kong Inc. (US) ', 'Back4App (US) ', 'Netlify, Inc. (US) ', 'Vercel Inc. (US)'

Event-Driven Architectures: One of the serverless architecture market trends is the event-driven systems expansion. Serverless platforms best match event-driven workloads. Those are applications where certain events or data changes trigger other specific actions. Since it activates the services only when they are needed, it has better resource efficiency; this is very helpful for workflow-like applications, real-time analytics, and IoT. 

With a revenue share of 37.4% in 2023, the North American serverless architecture market dominated the industry. Strong technological environment and widespread use of cloud computing are responsible for the growth. In terms of both usage and innovation in cloud computing, North America has been a leader. North America hosts the head offices and large data centers of prominent cloud service providers such as AWS, Microsoft Azure, and Google Cloud. Further, it is also the investment hub for cloud computing and other technologies and for technical innovation. The expansion of this regional business is also being supported by the availability of massive funding and constant R&D in the field. 

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