DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "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" report to their offering.
"Increasing shift from DevOps to serverless computing to drive the overall Function-as-a-Service market"
The Function-as-a-Service (FaaS) market size is estimated 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% owing to growing number of users adopting FaaS due to their easy deployment and execution ability. However, application portability issues on cloud environments acts as a major restraint in the overall growth of the market.
Developers are increasingly using FaaS platform for coding owing to their cost saving benefits. Moreover, they provide simpler methods for coding unlike other monolithic architectures. These benefits have helped drive the market share of the overall FaaS 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.
APAC is expected to grow at the highest 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. North America is expected to hold the largest market share and dominate the FaaS market in 2016.
Market Dynamics
Drivers
- Easy to Deploy, Manage, And Run
- Maturity of Hosted Services
- Shift from Devops to Serverless Computing
Restraints
- Application Portability On Various Cloud Environments
Opportunities
- Microservice-Based Deployment
Challenges
- Issues With Third-Party Services
- Architectural Complexity
- Operational Complexity
Companies Mentioned
- Amazon Web Services Inc.
- Dynatrace Llc
- Fiorano Software And Affiliates
- Flowgear
- Google Inc.
- Infosys Limited
- International Business Machines Corporation
- Manjrasoft Pty Ltd
- Microsoft Corporation
- Rogue Wave Software, Inc.
- Sap Se
- Sixsq Sàrl
- Tibco Software Inc.
For more information about this report visit http://www.researchandmarkets.com/research/nfq5pr/functionasaserv
