Function as a Service Market
The competition among the players operating in the global
function as a service market is
anticipated to intensify over the years owing to unique product categories
introduced by leading companies, states Transparency Market Research (TMR) in a
research report. The premier companies operating in the global function as a
service market are Amazon Web Services Inc., Microsoft Corporation, VMware
Inc., and Google Inc. are some of the leading players in the global market.
As indicated by the report, the global market for
function as a service stood at US$ 1.23bn in 2016 and is foreseen to achieve
US$ 4.28bn by the end of 2025, expanding at a CAGR of 15.3% during 2017 to
2025. As far as regions are concerned, North America ruled the worldwide
function as a service market in 2016.
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Function as a service is a cloud service which enables
service less management and app development. Function as a service enables the
end users to conduct programming and other task without having to manage their
servers. String of code are generated with events on the end users and
outsourced to servers which are located away from the user who can execute the
planned function. The application of function as a service to develop a new app
enables the end user to have a server less architecture. The function as a
service is mostly used while building micro services applications.
Growing Applications to have Positive Impact on Market
The global function as a service market is predicted to grow
in the black at a knockout CAGR as organizations shift from DevOps to
serverless computing. During the forecast period, there could also be other
factors supporting the market growth, which include maturity of hosted
services, scalability, and agility. The global market could be driven by the
constant need articulated by most companies regarding the optimization of micro
services and management of multiple platforms. As a result, services such as
micro service management and monitoring, and automation and integration are
anticipated to gain impetus.
North America is expected to lean on a colossal count of the
global function as a service market provider. By surging the want for business
agility and flexibility, and towering rate of penetration into a gamut of
industry verticals in the U.S
The global function as a service market has been
segmented as follows:
Type
- Developer
centric Function as a service
- Operator
centric Function as a service
Service
- Service
Monitoring and management
- Automation
integration services
- Maintenance
Services
- Consulting
Services
- Others
End Use Industry
- Defense
and Surveillance
- Telecommunication
- Banking
and Finance
- Healthcare
- Media
and Entertainment
- Hi
tech Industry
- Manufacturing
- Others
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