Product Code: GVR-4-68040-512-1
Function as a Service Market Size & Trends:
The global function as a service market size was valued at USD 15.02 billion in 2024 and is anticipated to grow at a CAGR of 27.8% from 2025 to 2030. The shift from traditional DevOps to the more streamlined serverless computing model is a significant growth driver for the function as a service (FaaS) market. Serverless computing eliminates the need for infrastructure management, allowing developers to focus solely on writing and deploying code. Moreover, advancements in AI and ML have created opportunities for FaaS to support serverless AI-driven end uses, streamlining complex computational processes without infrastructure concerns.
The widespread adoption of cloud computing is a critical driver of the function-as-a-service industry. Organizations increasingly seek scalable, cost-effective solutions that allow them to innovate without being burdened by infrastructure management. FaaS, as a cloud-native technology, provides a serverless model where businesses can deploy code on-demand, paying only for the resources consumed during execution. This pay-as-you-go model is particularly appealing for startups and SMEs, which can leverage FaaS to scale operations efficiently without significant capital investment. Enterprises also benefit from this model, using FaaS to manage seasonal or fluctuating workloads while maintaining optimal resource utilization.
The transition from monolithic end uses to microservices architecture has also been a significant growth driver for the FaaS market. Microservices enable businesses to break down large end uses into smaller, independent services that can be developed, deployed, and scaled individually. FaaS complements this approach by allowing developers to run individual functions as standalone units, improving end use flexibility and maintainability. This combination reduces interdependence and makes scaling specific end use parts more efficient, leading to faster development cycles and reduced time-to-market.
Industries such as e-commerce, banking, and entertainment increasingly adopt microservices for their ability to handle dynamic workloads and improve system reliability. FaaS plays a crucial role in this shift by supporting event-driven architectures, where specific functions execute in response to real-time triggers. This is particularly valuable for handling high-traffic events, such as online sales or media streaming, without impacting the overall system's performance. The synergy between microservices and FaaS is a key factor driving the adoption of serverless computing across enterprises aiming to modernize their software development practices.
Global Function as a Service Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global function-as-a-service market report based on type, deployment, enterprise size, end use, and region.
- Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Developer-Centric FaaS
- Operator-Centric FaaS
- Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
- Large Enterprises
- SMEs
- End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- IT & Telecom
- BFSI
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Government & Defense
- Transportation & Logistics
- Manufacturing
- Others
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Methodology segmentation & scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Function-as-a-Service Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Function-as-a-Service Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Function-as-a-Service Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Function-as-a-Service: Type Movement Analysis, USD Billion, 2024 & 2030
- 4.3. Developer-Centric FaaS
- 4.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Operator-Centric FaaS
- 4.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Function-as-a-Service Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Function-as-a-Service: Deployment Movement Analysis, USD Billion, 2024 & 2030
- 5.3. Public Cloud
- 5.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Private Cloud
- 5.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. Hybrid Cloud
- 5.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Function-as-a-Service Market: Enterprise Size Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Function-as-a-Service: Enterprise Size Movement Analysis, USD Billion, 2024 & 2030
- 6.3. SMEs
- 6.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Large Enterprises
- 6.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Function-as-a-Service Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Function-as-a-Service: End Use Movement Analysis, USD Billion, 2024 & 2030
- 7.3. IT & Telecom
- 7.4. BFSI
- 7.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Retail & Consumer Goods
- 7.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Healthcare & Life Sciences
- 7.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.7. Government & Defense
- 7.7.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.8. Transportation & Logistics
- 7.8.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.9. Manufacturing
- 7.9.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.10. Others
- 7.10.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Function-as-a-Service Market: Regional Estimates & Trend Analysis
- 8.1. Function-as-a-Service Share, By Region, 2024 & 2030, USD Billion
- 8.2. North America
- 8.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.2.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6. U.S.
- 8.2.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7. Canada
- 8.2.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.7.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8. Mexico
- 8.2.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.8.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3. Europe
- 8.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.3.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.3.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6. Germany
- 8.3.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6.3. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6.4. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7. France
- 8.3.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.7.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4. Asia Pacific
- 8.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6. China
- 8.4.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7. India
- 8.4.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.7.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8. Japan
- 8.4.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.8.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9. Australia
- 8.4.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.9.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10. South Korea
- 8.4.10.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.10.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.5. Latin America
- 8.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.5.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.5.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.5.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6. Brazil
- 8.5.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6. Middle East & Africa
- 8.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6. Saudi Arabia
- 8.6.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.6.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7. UAE
- 8.6.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.7.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8. South Africa
- 8.6.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.8.2. Market estimates and forecast by type, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis by Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Market Share Analysis
- 9.4. Company Heat Map Analysis
- 9.5. Strategy Mapping
- 9.5.1. Expansion
- 9.5.2. Mergers & Acquisition
- 9.5.3. Partnerships & Collaborations
- 9.5.4. New Product Launches
- 9.5.5. Research And Development
- 9.6. Company Profiles
- 9.6.1. Amazon Web Services, Inc.
- 9.6.1.1. Participant's Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Recent Developments
- 9.6.2. Google
- 9.6.2.1. Participant's Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Recent Developments
- 9.6.3. Oracle
- 9.6.3.1. Participant's Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Recent Developments
- 9.6.4. IBM
- 9.6.4.1. Participant's Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Recent Developments
- 9.6.5. Microsoft
- 9.6.5.1. Participant's Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Recent Developments
- 9.6.6. SAP SE
- 9.6.6.1. Participant's Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Recent Developments
- 9.6.7. Red Hat
- 9.6.7.1. Participant's Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Recent Developments
- 9.6.8. Dynatrace LLC.
- 9.6.8.1. Participant's Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Recent Developments
- 9.6.9. Infosys Limited
- 9.6.9.1. Participant's Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Recent Developments
- 9.6.10. Fiorano Software and Affiliates
- 9.6.10.1. Participant's Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Recent Developments