Global Function as a Service Market Is Estimated To Grow By ~34% of CAGR According to Market Research Future analysis, global function as a service market has been valued at USD ~11,932 million by the end of forecast period with ~34% of CAGR during forecast period 2017 to 2022 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.
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By user type, developer centric is dominating the market and has generated 1.1906 million in 2016 and is expected to grow at 33% CAGR.
By services, automation & integration service is dominating the market and has generated USD 538.9 million revenue in 2016 and is expected to grow with 36.5% CAGR.
By vertical manufacturing and BFSI sector is leading the market and is projected to grow with 37% and 36.4% respectively.
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.
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 segmented on the basis of user type, service type, application, deployment, vertical and region. On the basis of user type the segment is further classified into operator centric and developer centric. On the basis of service type the segment is further classified into automation and integration, microservice monitoring and management services, API management services, support and maintenance services and others. On the basis of application the segment is further classified into web based and mobile application, research and academic application. On the basis of cloud the segment is further divided into public cloud, private cloud and hybrid cloud. The function as a service covers wide area of verticals such as BFSI, manufacturing, healthcare, IT and telecommunication and many more.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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The regional analysis of active electronic components market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is expected to hold the largest market share and dominate the function as a service market in 2016, due to the penetration of large enterprises situated in this region with strong technically sound employees providing continuous innovative technologies, high penetration 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. Asia-Pacific is projected to grow at the fastest rate during the forecast period. Companies in APAC are continuously trying to improve market efficiency and further enhance customer satisfaction. This creates an opportunity for the FaaS solution and service providers.
Electronic component manufacturers
Original equipment manufacturers
network equipment vendors
user equipment manufacturers
network infrastructure integrators
LIST OF TABLES
Table 1 Global Function As A Service Market By User Type, 2017-2023 (Usd Million) 18
Table 2 Global Function As A Service Market, By Deployment Type, 2017-2023 (Usd Million) 20
Table 3 Global Function As A Service Market, By Services, 2017-2023 (Usd Million) 23
Table 4 Global Function As A Service Market, By Application 2017-2023 (Usd Million) 25
LIST OF FIGURES
Figure 1 Global Function As A Service Market: Drivers & Restraints 13
Figure 2 Function As A Service Principles And Logic 16
Figure 3 Global Function As A Service Market: Porter’s Five Forces Analysis 17
Figure 4 Global Function As A Service Market By User Type, 2017-2023 (Usd Million) 18
Figure 5 Global Function As A Service Market, By Deployment Type, 2017-2023 (Usd Million) 20
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