Function as a Service (FaaS) is the concept of
serverless computing via serverless architectures. Software developers can
leverage this to deploy an individual “function”, action, or piece of business
logic. The serverless architecture has many benefits as, it reduces time to
market, lowers the operational costs, reduces the complexity of software and
others. Therefore, the demand for serverless architecture is driving the
function as a service market.
The factors driving this sector include the need to
quickly and efficiently integrate the associated microservices. Automation and
integration services help reduce the computation time and drive the overall
efficiency of the application which is further contributing to the growth of
this market.
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Function as a service indicates computing without a
physical sever i.e. via serverless architecture. The software developers take
advantage of it to deploy an individual “function”, action, or piece of
business logic. It enables individual processing in a less time. Function as
service is trending in developers, many developers are adopting function as a
service platform for developing new applications. On the basis of deployment
type, the function as a service market is sub segmented into public cloud,
private cloud and hybrid cloud.
Global Function as a Service Market
Segmentation
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.
Key players
Some of the key players in the market 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.), Fiorano Software &
Affiliates (U.S.), among others
Market Research Analysis:
On geographic basis, global active electronic
components market is studied in different regions as North America, Europe,
Asia-Pacific and Rest of world.
Asia Pacific is expected to grow at the highest rate
during the forecast period. Companies in Asia Pacific are continuously trying
to improve market efficiency and further enhance customer satisfaction. This
creates an opportunity for the FaaS solution and service providers. North
America is expected to hold the largest market share and dominate the FaaS market
in 2016.
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