Global Function-as-a-Service Market Overview:
Function as a service (FaaS), also known as serverless computing is a cloud service that enables service less management & app development. It is a section of cloud computing service, which delivers a platform for customers to develop, manage as well as run applications functionalities deprived of the difficulty of maintaining and building infrastructure which are normally involved in developing as well as launching new apps. The application of function as a service to develop a new app allows the end user to have a server less architecture. Among user types such as Developer-Centric FaaS, and Operator-Centric FaaS, the developer-center FaaS segment is expected to hold the major market share while operator-centric FaaS segment is expected to grow at the highest CAGR. It is used among industry verticals including 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.
As per latest study released by AMA Research, the Global Function-as-a-Service market is expected to see growth rate of 30.07% and may see market size of USD7.94 Billion by 2027.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
High Growth Market | Asia-Pacific |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Increasing Demand For Serverless Architecture
- Maturity of hosted services
- Ease in deployment, management, and running
Roadblocks
- Security Concerns
- Architectural Complexity
Opportunities
- Microservice-based deployment
Challenges
- Issues with third-party services
Competitive Landscape:
Many key players in the market such as Amazon Web Services, Dynatrace LLC, Fiorano Software and Affiliates, Google LLC, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, SAP SE, among others.are using partnership, collaboration, new product development strategies to remain competitive over the coming years.
Some of the key players profiled in the report are International Business Machines Corporation (United States), Google LLC (United States), Microsoft Corporation (United States), Amazon Web Services (United States), SAP SE (Germany), Infosys Ltd (India), Rogue Wave Software (United States), TIBCO Software Inc. (United States) and Fiorano Software and Affiliates (United States). Additionally, following companies can also be profiled that are part of our coverage like VMware Inc. (United States) and Dynatrace LLC (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Function-as-a-Service market by 2027. Considering Market by Industry Vertical, the sub-segment i.e. Healthcare and Life Sciences will boost the Function-as-a-Service market. Considering Market by Service Type, the sub-segment i.e. API Management Service will boost the Function-as-a-Service market.
What Can be Explored with the Function-as-a-Service Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Function-as-a-Service Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Function-as-a-Service
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Function-as-a-Service market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Function-as-a-Service market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Application development platform providers, Cloud brokers, Managed Service Providers (MSPs), Cloud Service Providers (CSPs), System integrators, Consultancy firms/advisory firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.