Global Function-as-a Service Market – Industry Trends and Forecast to 2028

Market Analysis and Insights : Global Function-as-a Service Market

Data Bridge Market Research analyses that the function-as-a service market will exhibit a CAGR of 26.35% for the forecast period of 2021-2028.

Function-as-a-service (FaaS) is a cloud computing model that enables users to create and deploy numerous applications and functionalities without the need for a dedicated server, resulting in increased process efficiency. Developers can employ backend services on a flexible pay-as-you-go basis using this technology because they are only charged depending on their calculation and pay for a set amount of bandwidth. As technology has eliminated the need to maintain physical infrastructure and systems software, function-as-a-service is one of the fastest growing cloud service models.

The market for function-as-a-service is flourishing due to its ease of deployment, management, and operation, as well as the maturation of hosted services and the shift from DevOps to server less computing. In addition to this, other significant factors including increased app development activities, swift technology advancement as well as innovations and a growing desire to reduce server administration challenges will accelerate growth of the function-as-a service market.

Moreover, the increase of function-as-a-service applications in the emerging IoT landscape and the expansion of the cloud infrastructure services industry will boost the beneficial opportunities for the function-as-a service market growth.

However, application portability across various cloud environments and architectural difficulties will impede the function-as-a service market growth. Also, the issues with third-party services will challenge the growth of the function-as-a service market.

This function-as-a service market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on function-as-a service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Function-as-a Service Market Scope and Market Size

The function-as-a service market is segmented on the basis of user type, service type, application, deployment model, organization size and industry vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

• Based on user type, function-as-a-service market is segmented into operator-centric function as a service and developer-centric function as a service.
• Based on service type, function-as-a-service market is segmented into automation and integration services, micro service monitoring and management services, API management services, support and maintenance services, training and consulting services and others.
• Based on application, function-as-a-service market is segmented into web-based and mobile application, research and academic application and others.
• Based on deployment model, function-as-a-service market is segmented into public cloud, private cloud and hybrid cloud.
• Based on organization size, function-as-a-service market is segmented into small and medium enterprises and large enterprises.
• Based on industry vertical, function-as-a-service market is segmented into banking, financial services, and insurance (BFSI), telecommunication and ITES, consumer goods and retail, healthcare and life sciences, government and public sector, manufacturing, media and entertainment and others.

Function-as-a Service Market Country Level Analysis

The function-as-a service market is segmented on the basis of user type, service type, application, deployment model, organization size and industry vertical.

The countries covered in the function-as-a service market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the function-as-a service market and will continue to flourish its trend of dominance during the forecast period due to the pre-existing mature cloud infrastructure, including personnel with excellent technical capabilities, increasing technological progress of solutions and services, and significant penetration into the market's emerging industries in this region. Asia-Pacific will however, register the highest CAGR for this period due to the increasing consumer satisfaction in this region.

The country section of the function-as-a service market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Function-as-a Service Market Share Analysis

The function-as-a service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to function-as-a service market.

Some of the major players operating in the function-as-a service market are SixSq SA., IBM, Microsoft, Google LLC, Amazon Web Services, Inc., SAP SE, Dynatrace LLC., Infosys Limited, Preforce Software, Inc., TIBCO Software Inc., Fiorano Software and Affiliates., Manjrasoft Pty Ltd., Flowgear, VMware, Inc., Oracle, Tata Consultancy Services Limited., Capgemini., ExlService Holdings Inc., Cisco Systems Inc. among others.

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