Function-as-a-Service (FaaS) Market to Surpass US$68.4 Billion by 2030, Driven by Cloud-Native and Edge Computing Surge

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Industry Experts, Inc. today introduces "Global Function-as-a-Service (FaaS) Market - Deployment Types, User Types, Company Types and Industry Sectors," forecasting the market to surge from US$16.2 billion in 2024 to US$68.4 billion by 2030 at a CAGR of 27.1%. The report highlights the shift to cloud-native, event-driven architectures, powered by microservices, Kubernetes orchestration and DevOps, alongside the rise of edge computing for ultra-low latency in AR/VR, autonomous vehicles and real-time analytics.

North America leads with 36.4% of revenues in 2024, fueled by early adoption of AWS Lambda, Azure Functions and Google Cloud Functions and mature DevOps cultures. Europe follows on strong enterprise cloud-native uptake in finance and telecom. Asia-Pacific is the fastest-growing region at a 33.9% CAGR through 2030, driven by digital transformation across China, India and Southeast Asia. South America grows at 29.6% and Rest of World at 28.0% as cloud-native use expands in the Middle East and Africa.

Global Function-as-a-Service (FaaS) Market

Public cloud accounted for just over 50% of FaaS market value in 2024, while hybrid cloud grew fastest at a 30.9% CAGR and private cloud at 29.2% as enterprises seek flexibility and compliance. Developer-centric FaaS held a 63% share and large enterprises dominated with 59% of market value. SMEs expanded at a 29.4% CAGR, drawn by pay-per-use models and low-code/no-code integrations. BFSI led industry sectors with a 19.5% share. Retail & eCommerce was the fastest-growing sector at a 32.8% CAGR.

The report profiles over 20 leading providers, including AWS, Microsoft, Google, IBM, Oracle, OpenFaaS and Knative, and analyzes market dynamics across deployment type, user type, company type and industry sector in North America, Europe, Asia-Pacific, South America and Middle East & Africa. Coverage spans 2021-2023 historical data, 2024 as the base year, forecasts through 2030 and detailed country-level analysis across 29 independent country markets.

About Industry Experts, Inc.
Industry Experts, Inc. ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable corporate strategists, analysts, researchers and startups in obtaining crisp, unbiased current and future market data. For more information, contact us at +1-320-497-3787 or visit https://industry-experts.com.

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