Function-as-a-Service Market will reach $43,007.00 million by 2032 to Witness Huge Growth by 2029 -IBM (US), Google (US), Microsoft (US), Amazon Web Services(US), SAP (Germany), Dynatrace (US), Infosys (India), Rogue Wave Software (US), TIBCO Software (US

The global Function-as-a-Service market size was valued at $9,237.00 million in 2021, and is projected to reach $43,007.00 million by 2032, registering a CAGR of 39.7% from 2021 to 2032. Function-as-a-service is a cloud computing model that allows consumers to develop various application and deploy functionalities without having a proper server with increase in process efficiency

A recent market research report added to repository of MR Accuracy Reports is an in-depth analysis of global Function-as-a-Service. By user type, the developer-centric segment garnered major Function-as-a-Service market share in 2018 and is expected to remain dominant during the forecast period owing to numerous benefits provided by the FaaS to the developer centric user such as no server management, flexible scaling, optimized cost and automated high availability propels the growth of the market. However, the operator-centric segment is expected to witness highest CAGR in the upcoming years owing to increase in adoption of cloud computing architecture is expected to increase by network operators as it solves heavy computation problems which fuels the growth of the Function-as-a-Service market.

Click Here to Get Free Sample Copy of Function-as-a-Service Report @ https://www.mraccuracyreports.com/report-sample/379879

Global Function-as-a-Service: Top Key Players

IBM (US), Google (US), Microsoft (US), Amazon Web Services(US), SAP (Germany), Dynatrace (US), Infosys (India), Rogue Wave Software (US), TIBCO Software (US), Fiorano Software and Affiliates (US)

By deployment model, the public cloud segment dominated the Function-as-a-Service market share in 2018 and is expected to remain dominant during the forecast period. However, the hybrid cloud is expected to witness highest growth rate in the upcoming years as companies are adopting hybrid cloud for improving their business and to provide faster delivery of services. In addition, it offers numerous benefits which include flexibility to the data stored and providing advance level of security to the data.

Product types uploaded in the Function-as-a-Service are:

Developer-Centric, Operator-Centric

Key applications of this report are:

Web & Mobile Based, Research & Academic

Segment review

The global Function-as-a-Service Market segmentation includes user type, deployment model, organization size, industry vertical, and region. In terms of user type, it is bifurcated into developer-centric and operator-centric. In terms of deployment model, the market is divided into hybrid cloud, public cloud and private cloud. Based on the organization size, it is bifurcated into large enterprises and SMEs. By industry vertical, it is classified into, BFSI, IT & telecom, healthcare, manufacturing, media & entertainment, public sector, retail & e-commerce, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.mraccuracyreports.com/reportdetails/reportview/379879

Rising shift from DevOps to serverless computing

Though DevOps is considered as one of the widely used practice of integrating development and operations, however its implementation is sometimes considered as troublesome. These issues associated with DevOps have led to the increase in shift to serverless computing.

This growth in technology is widely chosen among developers as there is no need to worry about execution of code. In addition, there is no need for a direct access to the operating system to manage the code. This attracts large developers as they are able to focus solely on coding of the applications. In addition, it allows developers to use reusable code everywhere, which thus, eliminates the issues such as network troubleshooting. The drag-and-drop interface options allow fast use of reusable code that can shorten both the development and testing cycles. As time is considered important in modern day continuous release cycles, a reusable code strategy achieved through serverless computing dramatically improves developer time and resource economies of scale. As a result, developers are constantly adopting serverless computing; thus, driving the growth of the global Function-as-a-Service market.

Emergence of function-as-a-service applications in growing IoT landscape

Rapid technological developments and innovations have led to the transformation of several industries into a data-driven paradigm, which has opened up vast opportunities. In addition, significant increase in IoT adoption is supported by organizations, which are transforming their business through this technology for device integration and management to enhance productivity and cost-efficiency. Serverless computing has found several applications such as data processing, in the growing IoT landscape.

Impact of COVID-19 on Function-as-a-Service (FaaS) Market:

The demand for function-as-a-service is expected to surge during the Covid-19 pandemic to develop, run, and manage application functionalities by avoiding the building and maintaining the complex infrastructure to facilitate 'work from home' facilities.
Function-as-a-service has been adopted by the IT industry as it provides serverless computing via serverless architecture in the lockdown period to continue all the operations smoothly and securely.

The Function as a Service (FaaS) market is expected to grow from USD 1.88 Billion in 2016 to USD 7.72 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period. The major drivers of this Function as a Service market include agility & scalability, maturity of hosted services, and shift from DevOps to serverless computing.

The report provides detailed insights into the Function as a Service market, which is segmented by user type, service type, application, deployment model, organization size, industry vertical, and region.

Among the user types, the developer-center FaaS segment is anticipated to hold the largest market share whereas operator-centric FaaS segment is anticipated to grow at the highest CAGR. FaaS provides the ability to easily deploy, manage, and run an application which is why this segment is growing rapidly.

The automation and integration service type is anticipated to hold the largest market share whereas the microservice monitoring and management service is anticipated to grow at the highest CAGR during the forecast period. Organizations continuously require these service types to help them in managing multiple platforms and optimizing the micro services which is expected to further drive the overall Function as a Service market.

Among the applications, the web and mobile applications is expected to hold the largest market share whereas the research and academic applications is expected to grow at the highest CAGR. FaaS is easier to deploy and is being used by various applications to optimize their performance further driving the growth of this Function as a Service market.

Direct Purchase Function-as-a-Service Research Report Now @ https://www.mraccuracyreports.com/checkout/379879

Report includes Competitor's Landscape:

➊ Major trends and growth projections by region and country
➋ Key winning strategies followed by the competitors
➌ Who are the key competitors in this industry?
➍ What shall be the potential of this industry over the forecast tenure?
➎ What are the factors propelling the demand for the Toll Like Receptor 8?
➏ What are the opportunities that shall aid in significant proliferation of the market growth?
➐ What are the regional and country wise regulations that shall either hamper or boost the demand for Toll Like Receptor 8?
➑ How has the covid-19 impacted the growth of the market?
➒ Has the supply chain disruption caused changes in the entire value chain?

Call Us - UK +44 7452119323
USA +1 8045001224
Email us - sales@mraccuracyreports.com
30 Crawley Lane, West Sussex, RH10 7EG, United Kingdom
3351 Green Turtle Rd, Regina, SK S4V 3N6, Canada

MR Accuracy Reports is a Market Research and consulting company that accomplishes requirement of research agencies,small, medium and large corporations, global business leaders, government organizations,
SME's, Individual & Start-ups, top management consulting firms

This release was published on openPR.