Function-as-a-Service Market to Reach $24.0 Billion, Globally, by 2026 at 29.7% CAGR: Allied Market Research

PORTLAND, Oregon, April 20, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Function-as-a-Service Market by User Type (Developer-Centric, and Operator-Centric), Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size (Large Enterprises, and Small and medium enterprises), and Industry Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Media & Entertainment, Public Sector, Retail & e-commerce, and Others): Global Opportunity Analysis and Industry Forecast, 2019 - 2026."According to the report, the global function-as-a-service industry was estimated at $3.0 billion in 2018, and is anticipated to hit $24.0 billion by 2026, growing at a CAGR of 29.7% from 2019 to 2026.

Drivers, restraints, and opportunities:

Rise in the app development market, increase in shift from DevOps to serverless computing, and surge in need to eliminate server management challenges drive the growth of the global function-as-a-service market. On the other hand, issues associated with third-party APIs impedes the growth to some extent. However, emergence of function-as-a-service applications in growing IoT landscape, and growth in the cloud infrastructure service market are expected to create lucrative opportunities in the industry.

Download Report Sample for Growth Factors:

The developer-centric segment to dominate by 2026:

Based on user type, the developer-centric segment accounted for the highest share in 2018, contributing to nearly three-fifths of the total revenue of the global function-as-a-service market. This is attributed to significant rise in usage of FaaS as developers, and increased utility in FaaS for simpler coding and developing as compared to other monolithic architectures. On the other hand, the operator-centric segment would manifest the largest CAGR of 31.3% from 2019 to 2026. As operators are shifting towards function-as-a-service model to provide secure & reliable multi-cloud connectivity services. In addition, it aids to introduce SDN to improve existing networks and achieve rapid service provisioning and network optimization which fuels the growth of the market.

The public cloud segment to retain the dominant share:

Based on deployment model, the public cloud segment accounted for the maximum share in 2019, holding nearly three-fifths of the total share of the global function-as-a-service market. This is owing to increase in adoption of function as a service in public cloud as it can improve the functionality as well as overall development process. On the other hand, the hybrid cloud segment is estimated to portray the highest CAGR of 34.8% during the forecast period. This is attributed to the increase in adoption of hybrid cloud in IT service management models and growing demand for cost-effective, scalable and agile computing.

For Purchase Inquiry:

North America to dominate the market by 2026:

Geographically, North America held the largest share, holding nearly half of the global function-as-a-service market share in 2019, and will maintain its dominant contribution during the forecast period. As the region is most advanced in terms of technology adoption. In addition, the growth in demand for scalable and cost-effective computing, and availability of major market players in this region fuels the growth of the market. Contrarily, the region across Asia-Pacific is expected to grow at the highest CAGR of 34.1% during the forecast period. This is attributed to rise in adoption of cloud technology trend in Asia-Pacific countries. Furthermore, increase in presence of major market players and expansion of existing players in Asian countries is expected to drive the market growth in this region

Key players in the industry:

    --  Amazon Web Services
    --  Google LLC
    --  IBM Corporation
    --  Microsoft Corporation
    --  Oracle Corporation
    --  Tibco Software Inc.
    --  SAP SE
    --  Infosys Limited
    --  Rogue Wave Software, Inc.
    --  Dynatrace LLC

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

Similar Reports:

Risk Analytics Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Telecom Analytics Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Coherent Optical Equipment Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Customer Journey Analytics Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Data Wrangling Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975


Follow Us on: LinkedIn Twitter

View original content:

SOURCE Allied Market Research