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Functions as a Service (FaaS) Market Value Is Estimated to Reach USD 32210.74 Mn by 2028, With 29.50 % CAGR – Credence Research

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Functions as a Service (FaaS) Market Value Is Estimated to Reach USD 32210.74 Mn by 2028, With 29.50 % CAGR – Credence Research

August 30
17:56 2022
Functions as a Service (FaaS) Market Value Is Estimated to Reach USD 32210.74 Mn by 2028, With 29.50 % CAGR - Credence Research
The key players in the global Functions as a Service (FaaS) market in terms of value include Microsoft Corporation (U.S.), IBM (U.S.), Google Inc. (U.S.), Infosys Ltd. (India), TIBCO Software Inc. (U.S.), Amazon Web Services (U.S.), Rogue Wave Software Inc. (U.S.), SAP SE (Germany), Dynatrace LLC (U.S.), and Fiorano Software and Affiliates (U.S.).

The latest market report published by Credence Research “Global Functions as a Service (FaaS) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The Global Functions as a Service (FaaS) Market generated revenue of around USD 6829.4 million in 2021 and is anticipated to grow a CAGR of over 29.50 % during the forecast period from 2022 to 2028 to reach around USD 32210.74 million in 2028. While cumulative growth opportunity presented by the global Functions as a Service (FaaS) market is around USD 25381.37 million from 2022 to 2028.

The function-as-a-service market trends are analyzed to evaluate the market’s overall attractiveness. The FaaS market opportunity emphasizes the primary influencing factors for the projected period. The market is expanding because of the surge in interest in server management solutions, the transition from DevOps, and the explosive growth of the app development industry, to serverless computing. Although DevOps is one of the most popular methods for fusing development and operations, its execution is occasionally seen as challenging. These DevOps-related problems have aided in the rise of the serverless computing movement.

The global Functions as a Service (FaaS) market is bifurcated into User Type, Service Type, Application, Deployment Model, Organization Size, Industry Vertical, and Geography. Based on user type, the market is categorized into developer-centric FaaS and operator-centric FaaS. Based on Service Type, the global market is segmented into automation and integration service, microservice monitoring and management service, API management service, support and maintenance, training and consulting, and others (metering and billing). Based on application, the market is categorized into web-based and mobile applications, research and academic application, and others (stream processing and media processing). Based on the deployment model, the global market is segmented into public, private, and hybrid clouds. Based on Organization Size, the market is categorized into small and medium enterprises (SME) and large enterprises. Based on the industry vertical, the global market is segmented into BFSI, telecommunication, ITES, consumer goods and retail, healthcare, life sciences, government and public sector, manufacturing, media and entertainment, and others. Finally, based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

In 2021, the Functions as a Service (FaaS) market was dominated by North America, which also significantly boosted market revenue. Innovators and leaders in adopting cutting-edge technologies like 5G, autonomous driving, IoT, Blockchain, gaming, and artificial intelligence may be in the region. This development will likely accelerate the region’s embrace of “function as a service.” Additionally, the region is home to FaaS, which supports market expansion. Amazon Web Services, Oracle Corporation, IBM Corporation, Microsoft Corporation, etc. The proliferation of data sources has led to the development of new business insights, which has helped the American market under investigation thrive. FaaS may significantly increase computing effectiveness and outcomes with an immediate impact on business. 

Functions as a Service (FaaS) Market Scope

Report Attribute

Details

Market Value in 2021

USD 6829.4 million

Market Value in 2028

USD 32210.774 million

CAGR

29.50%

Benchmarking Year

2021

Past data

2016 – 2021

Forecast period

2022 – 2028

Segmentation of Global Functions as a Service (FaaS) Market-

Global Functions as a Service (FaaS) Market – By User Type

  • Developer-Centric FaaS
  • Operator-Centric FaaS

Global Functions as a Service (FaaS) Market – By Service Type

  • Automation and Integration Service
  • Microservice Monitoring and Management Service
  • API Management Service
  • Support and Maintenance
  • Training and Consulting
  • Others (Metering and Billing)

Global Functions as a Service (FaaS) Market – By Application

  • Web-based and Mobile Application
  • Research and Academic Application
  • Others (Stream Processing and Media Processing)

Global Functions as a Service (FaaS) Market – By Deployment Model

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Functions as a Service (FaaS) Market – By Organization Size

  • Small and Medium Enterprise (SME)
  • Large enterprise

Global Functions as a Service (FaaS) Market – By Industry Vertical

  • BFSI
  • Telecommunication and ITES
  • Consumer Goods and Retail
  • Healthcare and Life Sciences
  • Government and Public Sector
  • Manufacturing
  • Media and Entertainment
  • Others

Why to Buy This Report-

  • The report provides a qualitative and quantitative analysis of the global Functions as a Service (FaaS) market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
  • The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level.
  • In-depth analysis of the global Functions as a Service (FaaS) market segmentation based on user type, service type, application, deployment model, organization size, and industry vertical.
  • The global Functions as a Service (FaaS) market report also includes analyzing the global, regional, and country levels, along with key market trends, significant players analysis, market growth strategies, and key application areas.

Let’s learn more about this opportunity with free sample – https://www.credenceresearch.com/report/functions-as-a-service-market

Table Of Content:

1. Preface

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. Target Audience

1.1.3. USP and Key Offerings

1.2. Research Scope

1.3. Research Methodology

1.3.1. Phase I – Secondary Research

1.3.2. Phase II – Primary Research

1.3.3. Phase III – Expert Panel Review

1.3.4. Approach Adopted

1.3.4.1. Top-Down Approach

1.3.4.2. Bottom-Up Approach

1.3.5. Assumptions

1.4. Market Segmentation

2. Executive Summary

2.1. Market Snapshot: Global Functions as a Service (FaaS) Market

3. Market Dynamics & Factors Analysis

………….

4. Market Positioning of Key Players, 2021

…………

5. COVID 19 Impact Analysis

5.1. Global Functions as a Service (FaaS) Market Pre Vs Post COVID 19, 2019 – 2028

5.2. Impact on Import & Export

5.3. Impact on Demand & Supply

6. North America

……………

7. Europe

………………

8. Asia Pacific

………….

9. Latin America

……………

10. Middle East

……………………..

11. Africa

……………….

12. Global

12.1. Global Functions as a Service (FaaS) Market, by User Type, 2016-2028(US$ Mn)

12.1.1. Overview

12.1.2. Developer-Centric FaaS

12.1.3. Operator-Centric FaaS

12.2. Global Functions as a Service (FaaS) Market, by Service Type, 2016-2028(US$ Mn)

12.2.1. Overview

12.2.2. Automation and Integration Service

12.2.3. Microservice Monitoring and Management Service

12.2.4. API Management Service

12.2.5. Support and Maintenance

12.2.6. Training and Consulting

12.2.7. Others (Metering and Billing)

12.3. Global Functions as a Service (FaaS) Market, by Application, 2016-2028(US$ Mn)

12.3.1. Overview

12.3.2. Web-based and Mobile Application

12.3.3. Research and Academic Application

12.4. Global Functions as a Service (FaaS) Market, by Deployment Model, 2016-2028(US$ Mn)

12.4.1. Overview

12.4.2. Public Cloud

12.4.3. Private Cloud

12.4.4. Hybrid Cloud

12.5. Global Functions as a Service (FaaS) Market, by Organization Size, 2016-2028(US$ Mn)

12.5.1. Overview

12.5.2. Small and Medium Enterprise (SME)

12.5.3. Large enterprise

12.6. Global Functions as a Service (FaaS) Market, by Industry Vertical, 2016-2028(US$ Mn)

12.6.1. Overview

12.6.2. BFSI

12.6.3. Telecommunication and ITES

12.6.4. Consumer Goods and Retail

12.6.5. Healthcare and Life Sciences

12.6.6. Government and Public Sector

12.6.7. Manufacturing

12.6.8. Media and Entertainment

12.6.9. Others

12.6.10.

13. Company Profiles

13.1. IBM

13.2. Google Inc.

13.3. Microsoft Corporation

13.4. Amazon Web Services

13.5. SAP SE

13.6. Dynatrace LLC

13.7. Infosys Ltd.

13.8. Rogue Wave Software Inc.

13.9. TIBCO Software Inc.

13.10. Fiorano Software and Affiliates

13.11. Others

Let’s learn more about this opportunity with free sample – https://www.credenceresearch.com/report/functions-as-a-service-market

About Us

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, nonlegislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

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