Function as a Service Market- Reduction in IT Operation Costs Bolsters Growth, says TMR

Global Function as a Service Market: Reduction in IT Operation Costs
Bolsters Growth, says TMR
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Transparency Market Research (TMR) observes that competitive landscape in the global Function as a Service
(FaaS) is quite dynamic and has a distinct presence of a few big players. Amazon Web Services Inc., Microsoft
Corporation, VMware Inc., and Google Inc. are some of the leading players in the global market. As of 2016, these
companies held a whopping share of above 80% in the global market. Research and development and mergers and
acquisitions are anticipated to be key strategies of these players in the near future.
According to the research report, the global FaaS market was valued at US$1230.0 mn in 2016 and is expected to
be worth US$4280.0 mn by the end of 2025. Over the forecast period of 2017 and 2025, the global market is
expected to progress at a CAGR of 15.3%. Among the various end users, the global FaaS market is likely to be
driven by the telecommunications segment in the coming years as it is slated to surge at a CAGR of 15.3% during
the forecast period. From a geographic point of view, the North America FaaS market is estimated to progress at a
steady pace in the near future due to strong adoption of technology in the region. As of 2016, this region held a
share of 34.0% in the overall market.
Possibility of Server-less Computing Draws Attention to FaaS Solutions
The global FaaS market has been gaining traction in recent years as the service allows end users to conduct
programming, manage and run application along with other functionalities without the need to manage services.
Thus, the convenience of a platform that eliminates the requirement of building and maintaining infrastructure in
developing and run new applications has augmented the demand for FaaS. The biggest advantage of this service is
that has considerable reduced the cost of operations for various organizations. The only cost organizations have to
bear is that of resource used during execution, as FaaS allows easy to scale independent services triggered to action
by events.

The global market is also being driven by the fact that FaaS offers real time file and data processing. Analysts
indicate that FaaS can be deployed for transcoding thumbnail images, videos, process logs, filter, index files, and
aggregate data in real time. These factors are likely to bolster the growth of the global market in the near future.
Furthermore, the server less computing is anticipated to be its unique selling point over the forecast period. This
evolutionary process in promoting cloud computing is estimated to leverage the market to its full potential.
Lack of Flexibility within Cloud Environments to Hamper Growth
Despite the strong market drivers the global FaaS market is being stymied by a few factors. Currently, the key
restraint in the global market is the inability of FaaS to move data and applications formats from one cloud
environment to the other without any disruptions. This could translate into big losses for companies that save data
on multiple cloud environments. Thus, this factor anticipated to be a major restraint for the global market.
This review is based on Transparency Market Research’s report, titled “Function as a Service Market (Type -
Developers Centric FaaS and Operator Centric FaaS; Service - Service Monitoring and Management,
Automation Integration Services, Maintenance Services, and Consulting Services; End-use Industry -
Defense and Surveillance, Telecommunication, Banking and Finance, Healthcare, Media and Entertainment,
Hi-tech Industry, and Manufacturing) - Global Industry Analysis Size Share Growth Trends and
Forecast 2017 - 2025.”
The market has been segmented as follows:
Function as a Service Market, by Type

Developer centric FaaS
Operator centric FaaS
Function as a Service Market, by Service
Service Monitoring and management
Automation integration services
Maintenance Services
Consulting Services
Others
Function as a Service Market, by End Use Industry
Defense and Surveillance
Telecommunication
Banking and Finance
Healthcare
Media and Entertainment
Hi tech Industry
Manufacturing
Others
Function as a Service Market, by Geography
North America
o
o
o
Europe
o
o
o
o
The U.S.
Canada
Mexico
Asia Pacific
o
o
o
The U.K.
Germany
The Netherlands
Rest of Europe
China(Including Taiwan)
India
Japan

o
o
Oceania
Rest of Asia Pacific
Middle East & Africa
o
o
o
o
UAE
Saudi Arabia
South Africa
Others
Latin America
o
o
o
Brazil
Argentina
Others
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information
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