A recent report published by Infinium Global Research on the function-as-a-service market provides an in-depth analysis of segments and sub-segments in the global as well as the regional function-as-a-service market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional function-as-a-service market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global function-as-a-service market. According to the report, the global function-as-a-service market is projected to grow at a CAGR of 30.2% over the forecast period of 2019-2025.
Function-as-a-service is serverless computing via serverless architectures. It allows developers to execute code with respect to events without building out or maintaining a complex infrastructure. Companies in the function-as-a-service market are adopting strategies such as mergers, acquisitions, and collaborations that maximize their market share. For instance, in 2017, TIBCO collaborated with Amazon Web Services to deliver serverless integration solutions. TIBCO is the first integration vendor that gives support for AWS Lambda Serverless Compute by creating function-as-a-service with its ultralight edge microservices framework.
The rising need for optimization of microservices and the management of multiple platforms drives the growth of the function-as-a-service market. Factors such as maturity of hosted services, scalability, and agility contribute to the growth of the function-as-a-service market. Services such as automation and integration and microservice management and monitoring promote the growth of the function-as-a-service market. The increasing adoption of function-as-a-service by several companies to run, manages, and deploy applications boosts the growth of the function-as-a-service market. The shift from DevOps to serverless computing stimulates the growth of the function-as-a-service market. On the flip side, issues related to portability to the cloud hamper the growth of the function-as-a-service market. Moreover, microservice-based deployment creates several opportunities for the growth of the function-as-a-service market.
Based on geography, the global function-as-a-service market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have a premium share in the global function-as-a-service market. The presence of a large number of function-as-a-service providers in North America drives the growth of the function-as-a-service market in North America. Asia-Pacific region is anticipated to grow in the global function-as-a-service market with a significant CAGR over the forecast period. The increasing number of software firms in Asia-Pacific stimulates the growth of the function-as-a-service market in the Asia-Pacific region. Europe is showing growth in the global function-as-a-service market.
The report on the global function-as-a-service market covers segments such as type, application, and deployment model. On the basis of type, the sub-markets include service type, vertical type, and user type. On the basis of application, the sub-markets include research and academic application, web-based and mobile application, and other applications. On the basis of the deployment model, the sub-markets include private cloud, public cloud, and hybrid cloud.
The report provides profiles of the companies in the market such as Google LLC, Amazon Web Services Inc., TIBCO Software Inc., SAP SE, Microsoft Corporation, International Business Machines Corporation, Dynatrace LLC, Fiorano Software, Inc., Rogue Wave Software Inc., Infosys Ltd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the function-as-a-service market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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