Global Function as a Service Market Overview:
Function as a Service (FaaS) is a type of cloud computing service that gives a stage permitting clients to create, run, and oversee application functionalities without the intricacy of building and keeping up with the foundation regularly connected with creating and dispatching an app. Building an application by following this model is one method of accomplishing "serverless" engineering, and is normally utilized when building microservices applications. The benefits of FaaS are it focus more on code, not infrastructure, pay only for the resources you use when you use them, you pay only when an action occurs, scale up or down automatically, FaaS offers inherent high availability because it is spread across multiple availability zones per geographic region.
- FaaS provides easy to deploy, manage, and run the functions
- FaaS create a shift from DevOps to serverless computing
- Application portability on various cloud environments related to architecture
- The high initial cost of the application of FaaS
- Increase in Microservice-based deployment across the industries
- Increase in adoption of FaaS by SMEs in emerging countries
- Solving the different issues with third-party services and reduce architectural complexity
- To reduce the operational complexity
The function as a service market is highly competitive due to there is the availability of many players in the market. The leading organization in the market are using various strategies, techniques like new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their market share.
Some of the key players profiled in the report are IBM (United States), Google Inc. (United States), Microsoft Corporation (United States), Amazon Web Services (United States), SAP SE (Germany), Dynatrace LLC (United States), Infosys Ltd. (India), Rogue Wave Software Inc. (United States), TIBCO Software Inc. (United States) and Fiorano Software and Affiliates (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Function as a Service market by 2026. Considering Market by By User , the sub-segment i.e. Developer-Centric FaaS will boost the Function as a Service market. Considering Market by By Service, the sub-segment i.e. Automation and Integration Service will boost the Function as a Service market. Considering Market by By Industrial Vertical, the sub-segment i.e. BFSI will boost the Function as a Service market. Considering Market by By Organization Size, the sub-segment i.e. Small Size will boost the Function as a Service market.
On 13 July 2021, Microsoft Corp. and NEC Corporation announced an expansion of their decades-long collaboration. Through a new multi-year strategic partnership, the companies will leverage Microsoft Azure, Microsoft 365, NECís network and IT expertise, and each otherís AI and IoT solutions to help enterprise customers and the public sector across multiple markets and industries further accelerate their cloud adoption and digital transformation initiatives.
What Can be Explored with the Function as a Service Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Function as a Service Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Function as a Service
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Function as a Service market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Function as a Service market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes IT Firms, Industrial Associations, Government Regulatory Bodies and Research and Development Organizations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Function as a Service Market?
The Function as a Service market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Function as a Service Market?
Top performing companies in the Global Function as a Service market are IBM (United States), Google Inc. (United States), Microsoft Corporation (United States), Amazon Web Services (United States), SAP SE (Germany), Dynatrace LLC (United States), Infosys Ltd. (India), Rogue Wave Software Inc. (United States), TIBCO Software Inc. (United States) and Fiorano Software and Affiliates (United States), to name a few.
3. What trending factors would impact Function as a Service Market growth most?
"Retailers are continuously seeking to adopt hybrid cloud for their operations
" is seen as one of major influencing trends for Function as a Service Market during projected period 2020-2026.