Ability to Run and Manage Applications Without Need for Infrastructure Building and Management to Drive FaaS Market
Functionas a Service (FaaS) enables users to program, run applications, and manage
applications among other functionalities, without the tedious task of managing
these services. FaaS provides a platform that enables running of new
applications without the need to build and maintain infrastructure and thus, it
is in high demand. In addition to this, the reduced cost of operations is
driving organizations to adopt these services, thus fueling the growth of the
global FaaS market. A recent report published by Transparency Market Research
(TMR) states that the global Function as a Service (FaaS) market was worth US$1230.0
mn in 2016 and is expected to reach US$4280.0 mn by the end of 2025, expanding
at a whopping CAGR of 15.3% CAGR of 15.3%.between 2017 and 2025.
Given
below are some of the key questions answered by TMR analysts regarding the
global FaaS market:
Q. What are the factors poised to
boost the global FaaS market in the future?
The
implementation of FaaS enables organizations to easily scale independent
services triggered by events. The real time processing of data and file offered
by Function as a Service is encouraging organizations to make use of these
services. FaaS is being deployed for transcoding videos, thumbnail images,
process logs, index files, filter, and aggregate the data in real time, and
this is bolstering the demand for these services. The server less computing
provided by Function as a Service is anticipated to ensure the growth of this
market worldwide because server less computing is the unique selling point of
FaaS over any other service platforms. This evolutionary process in promoting cloud
computing is projected to drive the growth prospects of the global FaaS market.
Q. What are the challenges which
market players may face during the forecast period?
The
inability of Function as a Service to move applications and data formats from one
cloud environment to another without any disruptions is one of the key
challenges faced by organizations and is acting as the biggest challenge for
players operating in the FaaS market. This inability to move data and
applications formats from one cloud to a second one, without disruption can
spell huge amount of losses for organizations that are saving data on multiple
cloud environments.
Browse the Press Release : http://www.transparencymarketresearch.com/pressrelease/packaging-robot-market.htm
Q. Which end use industry will
emerge lucrative in the coming years?
The
function as a key service has many applications in the healthcare industry.
During the time of disaster, FaaS enables greater reach and enhanced
collaboration. Better use of big data to treat patients and more storage at low
cost are some of the factors boosting the adoption of FaaS in the healthcare
industry. The adoption of FaaS also enables remote patient care and enhanced
medical research which will further the function as a service market during the
years to come. The remote patient care
enables health professionals across the globe to access the desired patient
data instantly in times of need and patients are given treatment without any
further delay, which could otherwise result in fatality. It is thus predicted
that the healthcare segment in the global FaaS market is expected to exhibit a
CAGR of 15.4% between 2017 and 2025.
Categories:
Function as a Service market,
technology and media
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