Posts

Function-as-a-Service (FaaS) Market Size Expected to Reach USD 53.08 Billion at CAGR of 30.90%, By 2028

  The constant need by most companies regarding the management of multiple platforms and optimization of microservices are driving the demand for FaaS market. Market Size – USD 6,045.4 Million in 2020, Market Growth - CAGR of 30.90%, Market Trends –Maturity of hosted services. The global  Function-as-a-Service (FaaS) market  is forecast to reach USD 53.08 Billion by 2028, according to a new report by Reports and Data. Function-as-a-service (FaaS) allows users to develop applications and deploy functionalities without any need to maintain a server. This cloud computing model increases efficiency. It is generally used when creating microservices such as data processors, web applications, IT automation, and chatbots. Function-as-a-service (FaaS) is a software framework provided by the service providers. The software is customized to explicitly serve the requirements of the users by helping them to develop an application or system quickly. FaaS saves costs by removing any need for hardw