Function as a service Market report is in-depth study on how the status is for the industry. This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It also includes profiles of leading companies and brands that are driving the market with their recent developments, product launches, joint ventures, merges, and accusations.
The following manufacturers are covered in this report:
• IBM Corporation (US)
• Google Inc. (US),
• Microsoft Corporation (US),
• Amazon Web Services (US)
• SAP SE (Germany)
• Dynatrace LLC (US)
• Infosys Ltd. (India)
• Rogue Wave Software Inc. (US),
• TIBCO Software Inc. (US)
• Fiorano Software & Affiliates (US)’
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The global function as a service (FaaS) market has been witnessing a huge growth over the last few years. The factors responsible for the growing adoption of FaaS include agility and scalability features and growing demand for serverless architecture. The FaaS platform provides organizations with auto-scalable architecture and helps in reducing costs as the resources are adjusted according to the requirement of an application. It also eliminates the need to manage servers on cloud and replace them with pervasive use of functional computing resources. Therefore, the cost efficiency of the FaaS architecture is driving the growth of function as a service market.
However, complex architecture and security concerns are restraining the market for function as a service on a global scale. By user type, the market is segmented into developer-centric and operator-centric. The approach of function as a service platform is designed according to the user type so that the entire code can be executed as a single function. Function as a service is a developer-centric architecture that lets the cloud functions to build and deploy services at the level of a single function. It also provides a connective layer of logic that enables the developers to write code to connect and extend cloud services. Operator-centric approach features a specialized operator that processes data as would any other relational operator. In operator-based function as a service, the operator decides the need to increase or decrease the container count.
Regional and Country Analysis of Function as a service Market Estimation and Forecast
Geographically, North America is dominating the function as a service market due to advanced network infrastructure and presence of function as a service (FaaS) providers with strong technical expertise. The US is a prominent market due to a mature market of cloud services and increasing use of FaaS to monitor financial market. Asia-Pacific is the fastest growing region, accounting for a 37.70% share of the overall market where major contribution is witnessed from countries like China and Japan, due to market presence of leading players such as AWS Lambda and Microsoft Azure, improving network infrastructure and increasing adoption of cloud computing services.
The report on the global function as a service market also covers the following country-level analysis:
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
o Middle East
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Table of Content:
1 Executive Summary
2 Market Dynamics
3 Global Back Office Workforce Management Market, By Solution
4 Global Back Office Workforce Management Market, By Deployment
5 Global Back Office Workforce Management Market, By End-User
6 Global Back Office Workforce Management Market, By Region
7 Competitive Landscape
8 Company Profiles
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- The global function as a service market is expected to reach USD 11,932.95 million by 2023
- By user type, developer-centric approach led the market, generating the highest revenue of USD 1,479.31 million in 2017 and is expected to grow at 33.3% CAGR. Whereas, operator-centric approach is expected to account for the leading market segment in the future, growing at 36.9% CAGR
- By deployment type, the public cloud led the market, generating the highest revenue of USD 1,257.85 million in 2017 and expected to grow at 33.1% CAGR. Whereas private cloud is expected to be the leading market in the future, growing at 36.4% CAGR
- By services, automation & integration was leading the market by generating the highest revenue of USD 692.9 million in 2017 and is expected to grow at 36.5% CAGR. Whereas microservice monitoring & management segment is expected to be the leading market in the future, growing with 39.2% CAGR
- By application, web & mobile based market segment was leading the market by generating the highest revenue of USD 960.8 million in 2017 and is expected to be the fastest growing market growing at a 36.8% CAGR.
- By vertical, manufacturing sector is expected to witness a high market growth in coming years. It is expected to grow at the highest CAGR of 37.1% and estimated to generate high market value of USD 3,097.6 million by 2023
- Geographically, North America has been projected to hold the largest market share in the global function as a service market followed by Europe. Whereas, Asia-Pacific is expected to be the fastest growing region for function as a service market with a CAGR of 37.70%.
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