PUBLISHER: SkyQuest | PRODUCT CODE: 1447874
PUBLISHER: SkyQuest | PRODUCT CODE: 1447874
Global Function-as-a-Service Market Size, Share, Growth Analysis, By Type, By Deployment Model, By Organization Size, By Industry Vertical - Industry Forecast 2024-2031
Global Function-as-a-Service Market size was valued at USD 10.35 Billion in 2022 and is poised to grow from USD 13.08 Billion in 2023 to USD 84.94 Billion by 2031, growing at a CAGR of 26.35% in the forecast period (2024-2031).
The function-as-a-service (FaaS) market is witnessing strong growth owing to its inherent benefits in deployment, management, and operation. This surge is propelled by the advancement of hosted services and a fundamental transition from conventional DevOps to the more efficient serverless computing model.
Top-down and bottom-up approaches were used to estimate and validate the size of the Function-as-a-Service Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Function-as-a-Service Market Segmental Analysis
The global function-as-a-service market is segmented into five major segments i.e. by user type, deployment model, organization size, industry vertical and region. Based on user type the market is segmented as, developer-centric, operator-centric. Based on deployment model the market is segmented as, public cloud, private cloud, hybrid cloud. Based on organization size the market is segmented as, large enterprises, small and medium enterprises. Based on industry vertical the market is segmented as, BFSI, IT & telecom, healthcare, manufacturing, media & entertainment, public sector, retail & e-commerce, others. Based on region the market is segmented as, North America, Europe, Asia-Pacific, MEA, Latin America.
Drivers of the Function-as-a-Service Market
The transition from DevOps to Serverless Computing is marked by notable shifts in the Global Function-as-a-Service (FaaS) market. One significant driver is the increasing demand for blood and blood components, particularly evident in regions like India where there is a substantial need for blood transfusions. With approximately 60 million daily surgeries, 240 million primary operations, 331 million cancer-related procedures, and 10 million pregnancy complications, the demand for blood remains consistently high.
Restraints in the Function-as-a-Service Market
The FaaS market faces challenges related to application portability. Ensuring seamless application portability across diverse cloud environments becomes increasingly complex, especially as organizations adopt multi-cloud or hybrid cloud configurations.
Market Trends of the Function-as-a-Service Market
A key trend in the market is the rising activity in application development. Businesses across various industries are leveraging FaaS solutions to streamline and accelerate the application development and deployment lifecycle. By embracing FaaS, organizations can significantly reduce time-to-market, a crucial advantage in today's fiercely competitive landscape.
Table of Contents
Executive Summary
- Market Overview
- Wheel of Fortune
Research Methodology
- Information Procurement
- Secondary & Primary Data Sources
- Market Size Estimation
- Market Assumptions & Limitations
Parent Market Analysis
- Market Overview
- Market Size
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Key Market Insights
- Technology Analysis
- Pricing Analysis
- Supply Chain Analysis
- Value Chain Analysis
- Ecosystem of the Market
- IP Analysis
- Trade Analysis
- Startup Analysis
- Raw Material Analysis
- Innovation Matrix
- Pipeline Product Analysis
- Macroeconomic Indicators
- Top Investment Analysis
- Key Success Factor
- Degree of Competition
Market Dynamics & Outlook
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
- Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Global Function-as-a-Service Market by Type
- Market Overview
- Developer-Centric
- Operator-Centric
Global Function-as-a-Service Market by Deployment Model
- Market Overview
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global Function-as-a-Service Market by Organization Size
- Market Overview
- Large Enterprises
- Small and medium enterprises
Global Function-as-a-Service Market by Industry Vertical
- Market Overview
- BFSI
- IT & Telecom
- Healthcare
- Manufacturing
- Media & Entertainment
- Public Sector
- Retail & e-commerce
- Others
Global Function-as-a-Service Market Size by Region
- Market Overview
- North America
- USA
- Canada
- Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
- Top 5 Player Comparison
- Market Positioning of Key Players, 2021
- Strategies Adopted by Key Market Players
- Top Winning Strategies
- By Development
- By Company
- By Year
- Recent Activities in the Market
- Key Companies Market Share (%), 2021
Key Company Profiles
- SixSq SA.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- IBM
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Microsoft
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Google LLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Amazon Web Services, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- SAP SE
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Dynatrace LLC.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Infosys Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Preforce Software, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- TIBCO Software Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Fiorano Software and Affiliates.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Manjrasoft Pty Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Flowgear
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- VMware, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Oracle
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
