Demand for Function-as-a-Service to Increase as it Boosts IT Agility

San Francisco, California, June 02, 2017: TMR Research in its latest report, studies the global function as a service (FaaS) market. The report is titled “Function-as-a-Service Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 -2025.” As per the report, FaaS has revolutionized cloud computing by boosting IT agility and eliminating the need for developers to manage servers. In addition to this, function as a service leverages and scales complicated automated areas and eliminates the need to administer servers or pay for them when they are unused. In effect, FaaS is an event-driven computing service. It executes codes and functions only when required.

The report is a comprehensive analysis of the global function as a service (FaaS) market and studies each aspect of the market in detail. The key segments and sub-segments of the market are studied and the factors leading towards the growth and decline of the segment along with the reasons behind the market state have been included. The most promising segment has also been pointed out. The market size by 2025 has been given. The report profiles key players and reveals the strategies adopted by each of the players to stay ahead of market competition.

FaaS is a software framework that can be customized to serve an organization’s needs by helping them to quickly develop an application that suits their purpose. Function as a service helps in saving cost to a great extent without the need to invest heavily in hardware and other infrastructure. On the other hand, portability to cloud creates issues and this is expected to be the challenge faced by market players. However, the presence of a robust and existing cloud infrastructure is a bonus for the players. Additionally, the easy management and deployment of FaaS framework are also some of the benefits for market players. Some of the key players operating in the global function as a service market include: SAP SE, Microsoft Corporation, Amazon Web Services, IBM, and Google, Inc.

On the basis of geography, North America is expected to lead in the market on account of the presence of a large number of tech savvy companies which are seeking business flexibility and agility. This is especially true for the U.S. and Canada. Asia Pacific is also likely to see tremendous growth in the function as a service market, with countries such as China, South Korea, Taiwan, and India posing as significant markets. These countries have a number of software firms, thus boosting the growth of the market in the Asia Pacific region.