Function as a service Market Size, Share & Rising Trends Analysis, Forecast By Product Type, Growth Strategies, Opportunity, Challenges, and Revenue Analysis by 2025
Function as a service Market Summary: -
-Introduction , The global function as a service (FaaS) market has been witnessing 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. ,
-The global function as a service market is expected to reach approximately USD 11,932.95 million by 2023, growing at a CAGR of 34.32% from 2017 to 2023., The market has been divided into various segments based on user type, deployment type, service, application, vertical, and region. ,
-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. The 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.
-By deployment type, the market is segmented into public, private, and hybrid clouds. Function as a service indicates computing without a physical server i.e. via serverless architecture. The software developers take advantage of this to deploy an individual 'function', action, or piece of business logic. Function as service is trending among developers, as many developers are adopting function as a service platform for developing new applications.,
-By services, the market is broadly classified into automation & integration, microservice monitoring & management services, API management services, support & maintenance services, and training & consulting.
-Microservices are designed to speed up deployment cycles, foster innovation, and ownership, and improve maintainability and scalability of software applications which enable them to significantly contribute to the market growth.
-The application segment is broadly classified into web & mobile-based, research & academic and other applications. The web and mobile-based applications are significantly contributing to the FaaS market.
- FaaS requires less management and provides application servers, storage, databases, content delivery, cache, search, and other application services that make it easier to build and run applications.
- FaaS is implemented at mobile backend processing which is set of HTTP APIs that are initialized from a mobile client using the WebHook URL., The vertical segment in the function as a service market comprises manufacturing, BFSI, retail, IT & telecommunication, government, medical and others.
-The digital revolution today demands industrial manufacturers to adapt and develop leading-edge 'operations and supplier collaboration' ecosystems. This includes the need to develop smart products, roll out platforms for collaboration leading to reduced cost and enhance service capability due to which manufacturing services are leading the FaaS market
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Global Function as a service Market Segment by Manufacturers, this report covers: -
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) and Fiorano Software & Affiliates (US)
Table of Content:
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.3.2 Stringent government regulations
4.4.1 Increasing usage of Function as a service
5 Patent Trends
6 Market Factor Analysis
6.1 Supply Chain
6.2 Porter's Five Forces Model
6.2.1 Threat of New Entrants
6.2.2 Bargaining Power of Suppliers
6.2.3 Bargaining Power of Buyers
6.2.4 Threat of Substitutes
.... And More
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Key Highlights of Function as a Service Market Report:
-The report covers Function as a service application, market dynamics, and the study of emerging and existing market segments. It portrays market overview, product classification, applications, and market volume forecast from 2020-2025.
-It provides analysis on the industry chain scenario, key market players, market volume, upstream raw material details, production cost, and marketing channels.
-The growth opportunities, limitations to the market growth are identified using the SWOT analysis
-It conducts the feasibility study, explores the industry barriers, data sources and provides key research findings
-The report delivers analysis on consumption volume, region-wise import/export analysis and forecast market from 2020-2025.
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Reasons To Buy:
-Analyzing the outlook of the market with the recent trends and SWOT analysis.
-Market dynamics scenario, along with growth opportunities of the market in the years to come.
-Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
-Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market.
-Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years.
-Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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