This IDC study provides the worldwide functions as a service (FaaS) market forecast for 2024 to 2028. It also presents regional forecasts and a discussion of significant market developments and leading market participants. “The FaaS market is forecast to grow from $3.2 billion in 2023 to $13.4 billion in 2028, representing a 33.1% CAGR,” said Adam Reeves, research director, PaaS for Developers of Modern and Edge Applications at IDC. “Market growth will continue to be driven by PaaS providers serving developer needs for tools to make them more efficient in delivering cutting-edge applications.”
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Market Context
Drivers and Inhibitors
Drivers
PaaS Installed Base
Developer Enablement
Provider Ecosystem
Inhibitors
Vendor Lock-In
Technical Fit
Significant Market Developments
Microsoft Azure Functions
AWS Lambda
Google Cloud Run Functions
Changes from Prior Forecast
Market Definition
Methodology
Related Research
Research Assistance
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