The Function-as-a-Service (FaaS) market is expected to grow from USD 1.88 Billion in 2016 to USD 7.72 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 32.7%, owing to developed cloud infrastructure ideal for hosting these services.
The major players in FaaS include IBM (U.S.), Google Inc. (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), SAP SE (Germany), Dynatrace LLC (U.S.), Infosys Ltd. (India), Rogue Wave Software Inc. (U.S.), TIBCO Software Inc. (U.S.), and Fiorano Software and Affiliates (U.S.). These players have adopted various growth strategies such as expansions, acquisitions, partnerships, joint ventures & collaborations, and new product launches. New product launches and partnerships were the two major strategies adopted by these players to achieve a strong foothold in the FaaS market.
IBM is an eminent player in the FaaS market. The company operates through five major business segments: Global Technology Services (GTS), Global Business Services (GBS), software, systems hardware, and global financing. The GTS segment consists of cloud services that assist its customers with building customized dedicated managed clouds thereby allowing clients to leverage standardized cloud infrastructure services from SoftLayer and cloud managed services offerings. The company has expanded its product offerings with the help of technological developments & collaborations. For instance, in May 2015, IBM announced the addition of Microsoft’s .NET language and runtime capabilities to its Bluemix platform. Moreover, in December 2016, IBM and Delos entered into a partnership, where Delos would be using IBM’s cloud and cognitive technologies to support Delos data insights and find the impact of indoor spaces on human health.
Further, SAP is the key player in FaaS ecosystem. SAP Hybris is a unified brand resulting from the acquisition of Hybris by SAP. SAP Hybris consolidates all eCommerce solutions from SAP and Hybris. The Hybris-as-a-Service (YaaS) microservices offered by the company help customers to quickly develop custom application. The company focuses on improving its product portfolio with recent launches and upgradations. For instance, in December 2015, SAP SE announced the acquisition of Akabus, a cloud-based solution for cross-channel marketing measurements and optimization. This acquisition would help to accelerate the leadership position in SAP Hybris marketing cloud solution. Additionally, in July 2016, SAP SE announced the launch of SAP Hybris solution that helps businesses in delivering enhanced shopping experience.
The FaaS market research report analyzes global adoption trends, future growth potentials, key drivers, vendor portfolio analysis, restraints, opportunities, and value chain in this market.
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
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