Market Research Future published a research report on “Function as a Service Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Function as a Service Market:
Market Scenario:
Function as a service provides a platform allowing customers to develop, run, and manage application functionalities without the complexity of building and maintaining the infrastructure typically associated with developing and launching an app. It is a category of cloud computing services that offers server less architecture.
Major forces driving the growth of function as a service market are maturity of hosted services and a gradual shift to server less architecture. Other factors responsible for driving the growth of function as a service market are agility and scalability.
The function as a service market has been segmented on the basis of user type, service type, application, deployment and vertical. The application segment is further bifurcated into web based and mobile application and research and academic application. Out of which, the web based and mobile applications segment is expected to hold the largest market share while the research and academic applications segment is expected to grow at the highest CAGR during the forecast period. This is owing to the easy deployment solutions and hence offers performance optimization.
The global function as a service market is expected to grow at approx. USD 12 Billion by 2023, at 30% of CAGR between 2017 and 2023.
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Study Objectives of Function as a Service Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the function as a service market.
- To provide insights about factors affecting the market growth.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future perspective.
- To provide country level analysis of the market for segmentation on the basis of user type, service type, application, deployment and vertical.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for function as a service
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the function as a service
Key Players:
- IBM (U.S.), Google Inc. (U.S.),
- Microsoft Corporation (U.S.),
- Amazon Web Services (U.S.),
- SAP SE (Germany),
- Dynatrace LLC (U.S.),
- Infosys Ltd. (India),
- Rogue Wave Software Inc. (U.S.),
- TIBCO Software Inc. (U.S.),
- Fiorano Software & Affiliates (U.S.),
Segments:
Function as a service market can be segmented on the basis of following:
By User Type
- Operator Centric
- Developer Centric
By Service Type
- Automation & Integration
- Microservice Monitoring & Management Services
- API Management Services
- Support & Maintenance Services
- Training & Consulting
- Others
By Application
- Web Based & Mobile Application
- Research & Academic Application
- Others
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Vertical
- BFSI
- Manufacturing
- Healthcare
- Retail
- Media
- IT & Telecommunication
- Government
- Others
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Regional Analysis:
The regional analysis of function as a service market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in function as a service market in North America is attributed to the technical advancements and increasing investments in cloud based solutions in that region.
Intended Audience
- Technology investors
- Research/Consultancy firms
- Software providers
- Cloud Service providers
- Professional Service providers
- Solution providers
- Integration service providers
- Application development platform providers
- Managed Service Providers (MSPs)
- System integrators
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We are thankful for the support and assistance from Function as a Service Market Research Report- Global Forecast 2023 chain related technical experts and marketing experts during Research Team survey and interviews.
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