GLOBAL FUNCTION-AS-A-SERVICE MARKET:TRENDS ANALYSIS AND FORECASTS UP TO 2021
The Global Function-as-a-Service Market is projected to
reach USD 7.98 billion by the end of 2021, with a CAGR of
33.0% from 2016 to 2021.
Function as a service exempts the users from the responsibil-
ity of building and maintaining the infrastructure by offering
a platform to create, run, and manage applications. Function-
as-a-service basically is a distributed system that enables to
use computation from the cloud through an API. Function-as-
a-service involves an event driven mechanism wherein the
code or function is executed whenever a certain event is trig-
gered. In function-as-a-service the cloud provider takes the
responsibility of finding the server for the execution of this
code or function written by the users. The function-as-a-
service is believed to be one of the most efficient offering as
it comprises of paying for only those resources that are con-
sumed during execution.
In function-as-a-service the applications determine when and
how much amount of resources are to be used in the cloud.
As a result, the users are freed from the burden of managing
the applications. In line with this, the function-as-a-service
market is also driven by other factors comprising of the abil-
ity to easily create, deploy, and run applications, and increas-
ing adoption of serverless architecture.
The report segments the function-as-a-service market by
application, by deployment model, by service type, by user
type, by vertical and by region. The application includes re-
search and academic application, web-based and mobile ap-
plication and others (stream processing and media pro-
cessing). The deployment model includes hybrid cloud, pri-
vate cloud and public cloud. The service type includes API
management service, automation and integration service,
micro service monitoring and management service, support
and maintenance, training and consulting and among others
(metering and billing). The user type includes Developer-
Centric function-as-a-service and Operator-Centric function-
as-a-service. The vertical includes BFSI, consumer goods and
retail, government and public sector, healthcare, manufac-
turing, media and entertainment, telecommunication and IT
and among others.
The report provides regional analysis covering geographies
such as North America, Europe, Asia-Pacific, and Rest of the
World. North America leads the function-as-a-service market
followed by Europe and Asia-Pacific. The function-as-a-
service market in Asia-Pacific is projected to reflect highest
CAGR over the forecast period. The attractiveness of the
function-as-a-service market in the Asia-Pacific region is re-
sult of increasing adoption of serverless architecture that
results in the decrease in operational cost.
Companies Profiled:
Amazon Web Services
Dynatrace LLC
Fiorano Software and Affiliates
Google
Infosys Limited
International Business Machines Corporation
Microsoft Corporation
SAP SE
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