PUBLISHER: Grand View Research | PRODUCT CODE: 1679466
PUBLISHER: Grand View Research | PRODUCT CODE: 1679466
The global function as a service market size was valued at USD 15.02 billion in 2024 and is anticipated to grow at a CAGR of 27.8% from 2025 to 2030. The shift from traditional DevOps to the more streamlined serverless computing model is a significant growth driver for the function as a service (FaaS) market. Serverless computing eliminates the need for infrastructure management, allowing developers to focus solely on writing and deploying code. Moreover, advancements in AI and ML have created opportunities for FaaS to support serverless AI-driven end uses, streamlining complex computational processes without infrastructure concerns.
The widespread adoption of cloud computing is a critical driver of the function-as-a-service industry. Organizations increasingly seek scalable, cost-effective solutions that allow them to innovate without being burdened by infrastructure management. FaaS, as a cloud-native technology, provides a serverless model where businesses can deploy code on-demand, paying only for the resources consumed during execution. This pay-as-you-go model is particularly appealing for startups and SMEs, which can leverage FaaS to scale operations efficiently without significant capital investment. Enterprises also benefit from this model, using FaaS to manage seasonal or fluctuating workloads while maintaining optimal resource utilization.
The transition from monolithic end uses to microservices architecture has also been a significant growth driver for the FaaS market. Microservices enable businesses to break down large end uses into smaller, independent services that can be developed, deployed, and scaled individually. FaaS complements this approach by allowing developers to run individual functions as standalone units, improving end use flexibility and maintainability. This combination reduces interdependence and makes scaling specific end use parts more efficient, leading to faster development cycles and reduced time-to-market.
Industries such as e-commerce, banking, and entertainment increasingly adopt microservices for their ability to handle dynamic workloads and improve system reliability. FaaS plays a crucial role in this shift by supporting event-driven architectures, where specific functions execute in response to real-time triggers. This is particularly valuable for handling high-traffic events, such as online sales or media streaming, without impacting the overall system's performance. The synergy between microservices and FaaS is a key factor driving the adoption of serverless computing across enterprises aiming to modernize their software development practices.
Global Function as a Service Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global function-as-a-service market report based on type, deployment, enterprise size, end use, and region.