The latest market report published by Credence Research “Global Functions as a Service (FaaS) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The Global Functions as a Service (FaaS) Market generated revenue of around USD 6829.4 million in 2021 and is anticipated to grow a CAGR of over 29.50 % during the forecast period from 2022 to 2028 to reach around USD 32210.74 million in 2028. While cumulative growth opportunity presented by the global Functions as a Service (FaaS) market is around USD 25381.37 million from 2022 to 2028.
The function-as-a-service market trends are analyzed to evaluate the market’s overall attractiveness. The FaaS market opportunity emphasizes the primary influencing factors for the projected period. The market is expanding because of the surge in interest in server management solutions, the transition from DevOps, and the explosive growth of the app development industry, to serverless computing. Although DevOps is one of the most popular methods for fusing development and operations, its execution is occasionally seen as challenging. These DevOps-related problems have aided in the rise of the serverless computing movement.
The global Functions as a Service (FaaS) market is bifurcated into User Type, Service Type, Application, Deployment Model, Organization Size, Industry Vertical, and Geography. Based on user type, the market is categorized into developer-centric FaaS and operator-centric FaaS. Based on Service Type, the global market is segmented into automation and integration service, microservice monitoring and management service, API management service, support and maintenance, training and consulting, and others (metering and billing). Based on application, the market is categorized into web-based and mobile applications, research and academic application, and others (stream processing and media processing). Based on the deployment model, the global market is segmented into public, private, and hybrid clouds. Based on Organization Size, the market is categorized into small and medium enterprises (SME) and large enterprises. Based on the industry vertical, the global market is segmented into BFSI, telecommunication, ITES, consumer goods and retail, healthcare, life sciences, government and public sector, manufacturing, media and entertainment, and others. Finally, based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, the Functions as a Service (FaaS) market was dominated by North America, which also significantly boosted market revenue. Innovators and leaders in adopting cutting-edge technologies like 5G, autonomous driving, IoT, Blockchain, gaming, and artificial intelligence may be in the region. This development will likely accelerate the region’s embrace of “function as a service.” Additionally, the region is home to FaaS, which supports market expansion. Amazon Web Services, Oracle Corporation, IBM Corporation, Microsoft Corporation, etc. The proliferation of data sources has led to the development of new business insights, which has helped the American market under investigation thrive. FaaS may significantly increase computing effectiveness and outcomes with an immediate impact on business.
Functions as a Service (FaaS) Market Scope
Report Attribute
Details
Market Value in 2021
USD 6829.4 million
Market Value in 2028
USD 32210.774 million
CAGR
29.50%
Benchmarking Year
2021
Past data
2016 – 2021
Forecast period
2022 – 2028
Segmentation of Global Functions as a Service (FaaS) Market-
Global Functions as a Service (FaaS) Market – By User Type
Global Functions as a Service (FaaS) Market – By Service Type
Global Functions as a Service (FaaS) Market – By Application
Global Functions as a Service (FaaS) Market – By Deployment Model
Global Functions as a Service (FaaS) Market – By Organization Size
Global Functions as a Service (FaaS) Market – By Industry Vertical
Why to Buy This Report-
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Table Of Content:
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Functions as a Service (FaaS) Market
3. Market Dynamics & Factors Analysis
………….
4. Market Positioning of Key Players, 2021
…………
5. COVID 19 Impact Analysis
5.1. Global Functions as a Service (FaaS) Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply
6. North America
……………
7. Europe
………………
8. Asia Pacific
9. Latin America
10. Middle East
……………………..
11. Africa
……………….
12. Global
12.1. Global Functions as a Service (FaaS) Market, by User Type, 2016-2028(US$ Mn)
12.1.1. Overview
12.1.2. Developer-Centric FaaS
12.1.3. Operator-Centric FaaS
12.2. Global Functions as a Service (FaaS) Market, by Service Type, 2016-2028(US$ Mn)
12.2.1. Overview
12.2.2. Automation and Integration Service
12.2.3. Microservice Monitoring and Management Service
12.2.4. API Management Service
12.2.5. Support and Maintenance
12.2.6. Training and Consulting
12.2.7. Others (Metering and Billing)
12.3. Global Functions as a Service (FaaS) Market, by Application, 2016-2028(US$ Mn)
12.3.1. Overview
12.3.2. Web-based and Mobile Application
12.3.3. Research and Academic Application
12.4. Global Functions as a Service (FaaS) Market, by Deployment Model, 2016-2028(US$ Mn)
12.4.1. Overview
12.4.2. Public Cloud
12.4.3. Private Cloud
12.4.4. Hybrid Cloud
12.5. Global Functions as a Service (FaaS) Market, by Organization Size, 2016-2028(US$ Mn)
12.5.1. Overview
12.5.2. Small and Medium Enterprise (SME)
12.5.3. Large enterprise
12.6. Global Functions as a Service (FaaS) Market, by Industry Vertical, 2016-2028(US$ Mn)
12.6.1. Overview
12.6.2. BFSI
12.6.3. Telecommunication and ITES
12.6.4. Consumer Goods and Retail
12.6.5. Healthcare and Life Sciences
12.6.6. Government and Public Sector
12.6.7. Manufacturing
12.6.8. Media and Entertainment
12.6.9. Others
12.6.10.
13. Company Profiles
13.1. IBM
13.2. Google Inc.
13.3. Microsoft Corporation
13.4. Amazon Web Services
13.5. SAP SE
13.6. Dynatrace LLC
13.7. Infosys Ltd.
13.8. Rogue Wave Software Inc.
13.9. TIBCO Software Inc.
13.10. Fiorano Software and Affiliates
13.11. Others
About Us
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