Function as a Service Market to Touch US$4280.0 Mn by 2025; Adoption of Cloud Computing Process Propel Market Growth Globally - TMR

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Nov 27, 2018, 04:30 ET

ALBANY, New York, November 27, 2018 /PRNewswire/ --

As per the new report study published in the Transparency Market Research, the revenue generated by the global function as a service market stood at US$1230.0 mn in 2016 and likely to reach valuation of US$4280.0 mn by 2025 end. The global function as a service market likely to expand at a robust 15.3% CAGR.

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The research report by TMR depicts that the competitive landscape of the global market for function as a service presents is dynamic in nature and the report has also listed the presence of some of the key players such as Google Inc., Amazon Web Services Inc., VMware Inc., and Microsoft Corporation. The company also present significant share in 2016. These companies are majorly focusing on North America and Asia Pacific region for the investment opportunity in order to gain significant market share in the global market for function as a service.

The manufacturers are largely focused toward research and development activities and collaboration and participation are the major strategies adopted by the prominent players to strengthen their presence across the globe.

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Healthcare Sector of End Use Industry to Retain Lead in Global Function as a Service Market Through 2025

On the basis of end use industry, healthcare sector likely to register significant growth owing to enhanced research activities and promotion of remote patient care are some of the factor driving demand for healthcare sector during the course of forecast period from 2017 till 2025. On the basis of geography, North America likely to dominate the global function as a service market on the basis of revenue share. Which is followed by Europe for significant share in terms of revenue in the global function as a service market.

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Drop in Operation Cost of Association through App Likely to Boost Market Growth

The global function as a service market is likely to register significant growth on account of data processing and real time file. This can be key factor promoting growth of the function as a service market across the globe. The accessibility of platform that exclude the requirement of maintain and building infrastructure in evolving and usage of new application has boosted demand for the global function as a service market. The reduction in cost of operation in several organization is likely to be key factor supporting growth of the function as a service market in near future. The function as a service market is mainly used for transcoding process logs, filter, and comprehensive data in real time and thumbnail images. These important factor expected to boost demand for function as a service market, globally. The cloud computing process likely to influence growth of this market. In addition, Server less computing can be another factor positively supporting growth of the global function as a service market.

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Inability to Move Data from One Format to Cloud Environment to Limit Growth

In contrast, the incapability of function as a service market to move application format and data from one cloud environment to other is likely to restrain growth of the overall market. This cloud can be converted into the major loss for the company which saves their data on various cloud environment. These factor is likely to limit growth of this market in coming years.

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Function as a Service 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
- The U.S.
- Canada
- Mexico
Europe
- The U.K.
- Germany
- The Netherlands
- Rest of Europe
Asia Pacific
- China(Including Taiwan)
- India
- Japan
- Oceania
- Rest of Asia Pacific
Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Others
Latin America
- Brazil
- Argentina
- Others

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