Market Analysis: Global Function-as-a-Service Market
The global function-as-a-service market is expected to reach USD 8.86 billion by 2025, from USD 2.5 billion in 2017, growing at a CAGR of 25.8% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
Market Definition: Global Function-as-a-Service Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the function-as-a-service market in the next 8 years. FaaS is the new idea of server, which involves less computing on server and less architectures. FaaS users can conduct their own programming language without the struggle of building their own servers. FaaS is widely applicable in Banking, Financial Services, and Insurance (BFSI), Telecommunication and Ites, and others. FaaS is a new concept that was first proposed, in 2014 by hook.io, and now it is being implemented in services such as AWS Lambda, Google Cloud Functions, IBM OpenWhisk and microsoft azure functions. The Uber uses FaaS technology that runs over their private platform. In recent years many developments have took place in the field of FaaS. For instance, According to cloud academy, Inc. IBM has launched Open whisk, which is the latest FaaS solutions offering unique functionalities.
Major Market Drivers:
- Simple installation and manageable.
- Matured hosted services.
- Switch to server less computing from DevOps.
- Easy transferability of applications.
Market Segmentation: Global Function-as-a-Service Market
- Based on user type, the global Function-as-a-Service market is segmented into operator-centric function-as-a-service and developer-centric function-as-a-service.
- On the basis of service type, the global function-as-a-service market is classified into automation and integration services, micro service monitoring and management services, API management services, support and maintenance services, training and consulting services, and others.
- On the basis of application, the market is segmented into web-based & mobile application, research & academic application, and others.
- On the basis of deployment model, the global function-as-a-service market is classified into public cloud, private cloud, and hybrid cloud.
- On the basis of organization size, the global function-as-a-service market is classified into small and medium enterprises, and large enterprises.
- On the basis of Industry vertical, the 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 & entertainment, and others
- Based on geography, the global function-as-a-service market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Function-as-a-Service Market
The global function-as-a-service market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of function-as-a-service market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Function-as-a-Service Market
Some of the major players operating in the global function-as-a-service market are IBM Corporation, Microsoft, Google Inc., Amazon Web Services, Inc., SAP SE, Dynatrace LLC., Infosys Limited, Rogue Wave Software, Inc., TIBCO Software Inc., Fiorano Software and Affiliates., Manjrasoft Pty Ltd., Flowgear, SixSq Sàrl.,VMware, Inc, Iron.io, Oracle, Tata Consultancy Services Limited., Capgemini., EXL., Cisco Systems Inc., among others.
Research Methodology: Global Function-as-a-Service Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Software Developers, OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others