Function as a service is a cloud computing service which provides customers with a platform for developing, managing and running application functionalities without the complexity of building and maintaining the infrastructure. In addition, it provides a serverless way to execute modular pieces of code on the edge. Many organizations are adopting function as a service for improving developer velocity, increases the cost efficiency and built in scalability. It provides software developer to update a piece of code, which can be executed in response to any events, such as user clicking on an element in web application.
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Several benefits such as reduced costs, enhanced scalability, quicker time to release boost and more flexibility boost the adoption of this technology among the enterprises. In addition, Rise in need to eliminate server management and rapid growth of the app development market along with shift from DevOps toward serverless computing drives the growth of the market.
However, issues associated with third-part APIs such as lock-in problems, security & compliance concerns and other architectural complexities hinders the growth of the market. Furthermore, high growth of cloud-based services and rise in IoT-based devices are expected to present major opportunities for the market growth during the forecast period.
The List of companies covered in this Reports are:
Amazon Web Services
Google LLC
IBM Corporation
Microsoft Corporation
Oracle Corporation
Tibco Software Inc.
SAP SE
Infosys Limited
Rogue Wave Software
Inc. and Dynatrace LLC.
The global function as a service market is segmented based on user type, deployment model, organization size, industry vertical, and region. In terms of user type, it is bifurcated into developer-centric and operator-centric. In terms of deployment model, the market is divided into hybrid cloud, public cloud and private cloud. Based on the organization size, it is bifurcated into large enterprises and SMEs. By industry vertical, it is classified into, BFSI, IT & telecom, healthcare, manufacturing, media & entertainment, public sector, retail & e-commerce, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the market, including Amazon Web Services, Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Tibco Software Inc., SAP SE, Infosys Limited, Rogue Wave Software, Inc. and Dynatrace LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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