The global demand for Function As A Service Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Function as a service (FaaS) refers to the cloud computing services category that offers a platform that lets customers run, develop, and manage the application. FaaS (Function-as-a-Service) enables a user to execute code in reaction to events without the need for difficult infrastructure characteristically associated with building and launching microservices applications. Function-as-a-Service (FaaS) is a serverless way to execute modular pieces of code on edge. FaaS lets developers to update and write a code on the fly, which can be later executed in respond to an event, like a user clicking on an element in a web application.
Market Dynamics
The rising usage of hybrid cloud as compared to other cloud is the major factor driving the Function as a service market. The rise in fluctuating demand for computing and processing leads to high market demand from the companies as the hybrid cloud deployment provides companies an ability to scale their on-premises infrastructure. The growing shift towards serverless computing and increasing focus towards agility of infrastructure and cost reduction is prompting high market demand in the forecast period. Moreover, the high growth of cloud-based services and the rise in IoT-based devices are likely to create growth opportunities for key players of the Function as a service market in the coming years.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of function as a service. The growth and trends of function as a service industry provide a holistic approach to this study.
Market Segmentation
This section of the function as a service market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By User Type
- Developer-Centric Faas
- Operator-Centric Faas
By Service Type
- Automation And Integration Service
- Microservice Monitoring And Management Service
- Api Management Service
- Support And Maintenance
- Training And Consulting
- Others (Metering And Billing)
By Application
- Web-Based And Mobile Application
- Research And Academic Application
- Others (Stream Processing And Media Processing)
By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Small And Medium Enterprise (Sme)
- Large Enterprise
By Industry Vertical
- BFSI
- Telecommunication And Ites
- Consumer Goods And Retail
- Healthcare And Life Sciences
- Government And Public Sector
- Manufacturing
- Media And Entertainment
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Function As A Service market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Function As A Service Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the function as a service market include Amazon Web Services, Google LLC, Dynatrace LLC, Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Tibco Software Inc., Rogue Wave Software, Inc. SAP SE, and Infosys Limited. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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