The Europe Function as a Service Market would witness market growth of 25.2% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Function as a Service Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,699.9 million by 2031. The UK market is exhibiting a CAGR of 24.1% during (2024 - 2031). Additionally, The France market would experience a CAGR of 26.2% during (2024 - 2031).
The rise of cloud-native applications has played a significant role in adopting FaaS. Traditional monolithic applications are being replaced by microservices-based architectures, where each service is modular, independent, and scalable. FaaS perfectly complements microservices by allowing developers to break down applications into smaller functions that can be executed independently, thus facilitating faster development cycles and reducing time-to-market. This transition has increased demand for serverless computing platforms as businesses aim to build highly scalable, resilient, and cost-efficient applications that dynamically respond to changing demands. The growth of DevOps and continuous integration and continuous deployment (CI/CD) practices has further accelerated the adoption of FaaS, enabling seamless integration and automation of development, testing, and deployment processes.
One of the key factors driving the Function as a Service market is its pay-per-use pricing model, which allows businesses to significantly reduce operational expenses. Unlike traditional Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) models, where organizations have to pay for reserved computing resources, FaaS charges customers only for the actual execution time of functions. This is particularly beneficial for startups, enterprises, and businesses with unpredictable workloads, as it ensures cost optimization without the need for extensive upfront investments. Furthermore, the capacity of FaaS to autonomously scale in accordance with workload requirements obviates the necessity for intricate capacity planning, rendering it an appealing choice for enterprises seeking to improve operational efficiency while simultaneously reducing expenditures.
The retail sector rapidly adopts FaaS-based solutions in Italy as businesses transition toward e-commerce and omnichannel strategies. According to the Italian National Institute of Statistics (ISTAT), online sales significantly grew in 2023, with nearly 40 million Italians shopping online. FaaS architectures empower retailers by automatically scaling resources to handle fluctuating workloads during high-traffic periods, such as seasonal sales and promotional events. FaaS solutions help businesses maintain customer satisfaction and drive revenue growth in Italy’s expanding digital retail landscape by ensuring uninterrupted service availability and enhancing application performance. Therefore, with Europe's strong focus on sustainability, regulatory compliance, and technological advancement, the region is emerging as a key player in the market.
Free Valuable Insights: The Global Function as a Service Market will Hit USD 72.52 Billion by 2031, at a CAGR of 25.6%
Based on Type, the market is segmented into Developer-Centric and Operator-Centric. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Deployment, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on End-use, the market is segmented into BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Government & Defense, Transportation & Logistics, and Other End-use. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Google LLC (Alphabet Inc.)
- Oracle Corporation
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Dynatrace, Inc.
- Infosys Limited
- Alibaba Cloud (Alibaba Group Holding Limited)
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
Europe Function as a Service Market Report Segmentation
By Type
- Developer-Centric
- Operator-Centric
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By End-use
- BFSI
- IT & Telecom
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Manufacturing
- Government & Defense
- Transportation & Logistics
- Other End-use
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Function as a Service Market, by Type
1.4.2 Europe Function as a Service Market, by Enterprise Size
1.4.3 Europe Function as a Service Market, by Deployment
1.4.4 Europe Function as a Service Market, by End-use
1.4.5 Europe Function as a Service Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Strategies Deployed in Function as a Service Market
4.3 Porter Five Forces Analysis
Chapter 5. Europe Function as a Service Market by Type
5.1 Europe Developer-Centric Market by Country
5.2 Europe Operator-Centric Market by Country
Chapter 6. Europe Function as a Service Market by Enterprise Size
6.1 Europe Large Enterprises Market by Country
6.2 Europe Small & Medium-sized Enterprises Market by Country
Chapter 7. Europe Function as a Service Market by Deployment
7.1 Europe Public Cloud Market by Country
7.2 Europe Private Cloud Market by Country
7.3 Europe Hybrid Cloud Market by Country
Chapter 8. Europe Function as a Service Market by End-use
8.1 Europe BFSI Market by Country
8.2 Europe IT & Telecom Market by Country
8.3 Europe Retail & Consumer Goods Market by Country
8.4 Europe Healthcare & Life Sciences Market by Country
8.5 Europe Manufacturing Market by Country
8.6 Europe Government & Defense Market by Country
8.7 Europe Transportation & Logistics Market by Country
8.8 Europe Other End-use Market by Country
Chapter 9. Europe Function as a Service Market by Country
9.1 Germany Function as a Service Market
9.1.1 Germany Function as a Service Market by Type
9.1.2 Germany Function as a Service Market by Enterprise Size
9.1.3 Germany Function as a Service Market by Deployment
9.1.4 Germany Function as a Service Market by End-use
9.2 UK Function as a Service Market
9.2.1 UK Function as a Service Market by Type
9.2.2 UK Function as a Service Market by Enterprise Size
9.2.3 UK Function as a Service Market by Deployment
9.2.4 UK Function as a Service Market by End-use
9.3 France Function as a Service Market
9.3.1 France Function as a Service Market by Type
9.3.2 France Function as a Service Market by Enterprise Size
9.3.3 France Function as a Service Market by Deployment
9.3.4 France Function as a Service Market by End-use
9.4 Russia Function as a Service Market
9.4.1 Russia Function as a Service Market by Type
9.4.2 Russia Function as a Service Market by Enterprise Size
9.4.3 Russia Function as a Service Market by Deployment
9.4.4 Russia Function as a Service Market by End-use
9.5 Spain Function as a Service Market
9.5.1 Spain Function as a Service Market by Type
9.5.2 Spain Function as a Service Market by Enterprise Size
9.5.3 Spain Function as a Service Market by Deployment
9.5.4 Spain Function as a Service Market by End-use
9.6 Italy Function as a Service Market
9.6.1 Italy Function as a Service Market by Type
9.6.2 Italy Function as a Service Market by Enterprise Size
9.6.3 Italy Function as a Service Market by Deployment
9.6.4 Italy Function as a Service Market by End-use
9.7 Rest of Europe Function as a Service Market
9.7.1 Rest of Europe Function as a Service Market by Type
9.7.2 Rest of Europe Function as a Service Market by Enterprise Size
9.7.3 Rest of Europe Function as a Service Market by Deployment
9.7.4 Rest of Europe Function as a Service Market by End-use
Chapter 10. Company Profiles
10.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Recent strategies and developments:
10.1.4.1 Partnerships, Collaborations, and Agreements:
10.1.4.2 Product Launches and Product Expansions:
10.1.5 SWOT Analysis
10.2 Google LLC (Alphabet Inc.)
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 Oracle Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.6 SWOT Analysis
10.4 IBM Corporation
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional & Segmental Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments:
10.4.5.1 Partnerships, Collaborations, and Agreements:
10.4.6 SWOT Analysis
10.5 Microsoft Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.5.6 SWOT Analysis
10.6 SAP SE
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.6 SWOT Analysis
10.7 Dynatrace, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional Analysis
10.7.4 Research & Development Expenses
10.7.5 SWOT Analysis:
10.8 Infosys Limited
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 SWOT Analysis
10.9 Alibaba Cloud (Alibaba Group Holding Limited)
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental Analysis
10.9.4 SWOT Analysis
10.10. Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expenses
10.10.5 SWOT Analysis
TABLE 1 Europe Function as a Service Market, 2020 - 2023, USD Million
TABLE 2 Europe Function as a Service Market, 2024 - 2031, USD Million
TABLE 3 Europe Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 4 Europe Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 5 Europe Developer-Centric Market by Country, 2020 - 2023, USD Million
TABLE 6 Europe Developer-Centric Market by Country, 2024 - 2031, USD Million
TABLE 7 Europe Operator-Centric Market by Country, 2020 - 2023, USD Million
TABLE 8 Europe Operator-Centric Market by Country, 2024 - 2031, USD Million
TABLE 9 Europe Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 10 Europe Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 11 Europe Large Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 12 Europe Large Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 13 Europe Small & Medium-sized Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 14 Europe Small & Medium-sized Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 15 Europe Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 16 Europe Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 17 Europe Public Cloud Market by Country, 2020 - 2023, USD Million
TABLE 18 Europe Public Cloud Market by Country, 2024 - 2031, USD Million
TABLE 19 Europe Private Cloud Market by Country, 2020 - 2023, USD Million
TABLE 20 Europe Private Cloud Market by Country, 2024 - 2031, USD Million
TABLE 21 Europe Hybrid Cloud Market by Country, 2020 - 2023, USD Million
TABLE 22 Europe Hybrid Cloud Market by Country, 2024 - 2031, USD Million
TABLE 23 Europe Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 24 Europe Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 25 Europe BFSI Market by Country, 2020 - 2023, USD Million
TABLE 26 Europe BFSI Market by Country, 2024 - 2031, USD Million
TABLE 27 Europe IT & Telecom Market by Country, 2020 - 2023, USD Million
TABLE 28 Europe IT & Telecom Market by Country, 2024 - 2031, USD Million
TABLE 29 Europe Retail & Consumer Goods Market by Country, 2020 - 2023, USD Million
TABLE 30 Europe Retail & Consumer Goods Market by Country, 2024 - 2031, USD Million
TABLE 31 Europe Healthcare & Life Sciences Market by Country, 2020 - 2023, USD Million
TABLE 32 Europe Healthcare & Life Sciences Market by Country, 2024 - 2031, USD Million
TABLE 33 Europe Manufacturing Market by Country, 2020 - 2023, USD Million
TABLE 34 Europe Manufacturing Market by Country, 2024 - 2031, USD Million
TABLE 35 Europe Government & Defense Market by Country, 2020 - 2023, USD Million
TABLE 36 Europe Government & Defense Market by Country, 2024 - 2031, USD Million
TABLE 37 Europe Transportation & Logistics Market by Country, 2020 - 2023, USD Million
TABLE 38 Europe Transportation & Logistics Market by Country, 2024 - 2031, USD Million
TABLE 39 Europe Other End-use Market by Country, 2020 - 2023, USD Million
TABLE 40 Europe Other End-use Market by Country, 2024 - 2031, USD Million
TABLE 41 Europe Function as a Service Market by Country, 2020 - 2023, USD Million
TABLE 42 Europe Function as a Service Market by Country, 2024 - 2031, USD Million
TABLE 43 Germany Function as a Service Market, 2020 - 2023, USD Million
TABLE 44 Germany Function as a Service Market, 2024 - 2031, USD Million
TABLE 45 Germany Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 46 Germany Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 47 Germany Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 48 Germany Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 49 Germany Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 50 Germany Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 51 Germany Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 52 Germany Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 53 UK Function as a Service Market, 2020 - 2023, USD Million
TABLE 54 UK Function as a Service Market, 2024 - 2031, USD Million
TABLE 55 UK Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 56 UK Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 57 UK Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 58 UK Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 59 UK Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 60 UK Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 61 UK Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 62 UK Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 63 France Function as a Service Market, 2020 - 2023, USD Million
TABLE 64 France Function as a Service Market, 2024 - 2031, USD Million
TABLE 65 France Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 66 France Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 67 France Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 68 France Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 69 France Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 70 France Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 71 France Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 72 France Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 73 Russia Function as a Service Market, 2020 - 2023, USD Million
TABLE 74 Russia Function as a Service Market, 2024 - 2031, USD Million
TABLE 75 Russia Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 76 Russia Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 77 Russia Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 78 Russia Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 79 Russia Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 80 Russia Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 81 Russia Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 82 Russia Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 83 Spain Function as a Service Market, 2020 - 2023, USD Million
TABLE 84 Spain Function as a Service Market, 2024 - 2031, USD Million
TABLE 85 Spain Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 86 Spain Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 87 Spain Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 88 Spain Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 89 Spain Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 90 Spain Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 91 Spain Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 92 Spain Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 93 Italy Function as a Service Market, 2020 - 2023, USD Million
TABLE 94 Italy Function as a Service Market, 2024 - 2031, USD Million
TABLE 95 Italy Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 96 Italy Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 97 Italy Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 98 Italy Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 99 Italy Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 100 Italy Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 101 Italy Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 102 Italy Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 103 Rest of Europe Function as a Service Market, 2020 - 2023, USD Million
TABLE 104 Rest of Europe Function as a Service Market, 2024 - 2031, USD Million
TABLE 105 Rest of Europe Function as a Service Market by Type, 2020 - 2023, USD Million
TABLE 106 Rest of Europe Function as a Service Market by Type, 2024 - 2031, USD Million
TABLE 107 Rest of Europe Function as a Service Market by Enterprise Size, 2020 - 2023, USD Million
TABLE 108 Rest of Europe Function as a Service Market by Enterprise Size, 2024 - 2031, USD Million
TABLE 109 Rest of Europe Function as a Service Market by Deployment, 2020 - 2023, USD Million
TABLE 110 Rest of Europe Function as a Service Market by Deployment, 2024 - 2031, USD Million
TABLE 111 Rest of Europe Function as a Service Market by End-use, 2020 - 2023, USD Million
TABLE 112 Rest of Europe Function as a Service Market by End-use, 2024 - 2031, USD Million
TABLE 113 Key Information – Amazon Web Services, Inc.
TABLE 114 Key Information – Google LLC
TABLE 115 Key Information – Oracle Corporation
TABLE 116 Key Information – IBM Corporation
TABLE 117 Key Information – Microsoft Corporation
TABLE 118 Key Information – SAP SE
TABLE 119 Key Information – Dynatrace, Inc.
TABLE 120 Key Information – Infosys Limited
TABLE 121 Key Information – Alibaba Cloud
TABLE 122 Key Information – Huawei Technologies Co., Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Function as a Service Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Function as a Service Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Function as a Service Market
FIG 6 Europe Function as a Service Market share by Type, 2023
FIG 7 Europe Function as a Service Market share by Type, 2031
FIG 8 Europe Function as a Service Market by Type, 2020 - 2031, USD Million
FIG 9 Europe Function as a Service Market share by Enterprise Size, 2023
FIG 10 Europe Function as a Service Market share by Enterprise Size, 2031
FIG 11 Europe Function as a Service Market by Enterprise Size, 2020 - 2031, USD Million
FIG 12 Europe Function as a Service Market share by Deployment, 2023
FIG 13 Europe Function as a Service Market share by Deployment, 2031
FIG 14 Europe Function as a Service Market by Deployment, 2020 - 2031, USD Million
FIG 15 Europe Function as a Service Market share by End-use, 2023
FIG 16 Europe Function as a Service Market share by End-use, 2031
FIG 17 Europe Function as a Service Market by End-use, 2020 - 2031, USD Million
FIG 18 Europe Function as a Service Market share by Country, 2023
FIG 19 Europe Function as a Service Market share by Country, 2031
FIG 20 Europe Function as a Service Market by Country, 2020 - 2031, USD Million
FIG 21 Recent strategies and developments: Amazon Web Services, Inc.
FIG 22 SWOT Analysis: Amazon Web Services, Inc.
FIG 23 SWOT Analysis: Google LLC
FIG 24 SWOT Analysis: Oracle Corporation
FIG 25 SWOT Analysis: IBM Corporation
FIG 26 SWOT Analysis: Microsoft Corporation
FIG 27 SWOT Analysis: SAP SE
FIG 28 SWOT Analysis: Dynatrace, Inc.
FIG 29 SWOT Analysis: Infosys Limited
FIG 30 SWOT Analysis: Alibaba Cloud
FIG 31 SWOT Analysis: Huawei Technologies Co., Ltd.
