Press "Enter" to skip to content

Function-as-a-Service Market size is expected to grow $7.72 Billion by 2021 at a CAGR of 32.7%

According to a new market research report Function-as-a-Service Market by User Type (Developer-Centric and Operator-Centric), Application (Web & Mobile Based, Research & Academic), Service Type, Deployment Model, Organization Size, Industry Vertical, and Region – Global Forecast to 2021″, published by MarketsandMarkets, the Function-as-a-service (FaaS)market size is expected to grow from USD 1.88 Billion in 2016 to USD 7.72 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period.

The developer-centric Function-as-a-Service is estimated to dominate the Function-as-a-Service Market share during the forecast period 

The developer-centric Function-as-a-Service segment is estimated to have the largest market share in the Function-as-a-Service Market.  Developers are finding increased utility in Function-as-a-Service for simpler coding and developing as compared to other monolithic architectures which is further driving the market.

Request for Report Brochure:

The micro service monitoring and management segment is expected to grow at a high CAGR during the forecast period 

The micro service monitoring and management services of the Function-as-a-Service Market is witnessing a potential growth in comparison to other applications owing to the benefits it offers such as, easy deployment, operation, and management. The BFSI, healthcare & life sciences, manufacturing, and other verticals are opting for this application to quickly address customer queries and concerns, keeping in mind the long-term benefits. They are additionally achieving a competitive advantage.

North America is the leading region in terms of market share in the Function-as-a-Service Market space 

North America is expected to hold the largest market share and dominate the Function-as-a-Service Market in 2016, due to the *********** of large enterprises situated in this region with strong technically sound employees providing continuous innovative technologies, high *********** into the growing industries of the market, and greater efficiency of cloud-based solution in the front office. These are some of the major driving factors contributing to the growth of Function-as-a-Service in North America.

Inquiry Before Buying:

The major drivers of this market include instant provisioning, auto-scaling, pay-as-you-go model, and the availability of mature hosted services. Major vendors covered in the Function-as-a-Service Market for the study are 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.), and  Fiorano Software and Affiliates (U.S.).

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

Be First to Comment

Leave a Reply

%d bloggers like this: