Market Share of Function As A Service Industry
The function as a service Market is highly competitive due to the many players in the market. Key players in the market include Google, AWS, SAP, IBM, and Microsoft, among others. Players in the market use new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, etc., to increase their market share. Some of the key developments in the market are mentioned below.
In June 2022, Kyndryl, the world's largest IT infrastructure services provider, partnered with Oracle to help customers accelerate their journey to the cloud by delivering managed cloud solutions to enterprises worldwide. As part of the alliance, Kyndryl will become a key delivery partner for Oracle Cloud Infrastructure (OCI), expanding upon its deep experience of working with and supporting customers using Oracle products and services.
Moreover, in May 2022, Red Hat Inc., the world's leading provider of open source solutions, and Accenture expanded their nearly 12-year strategic partnership further to power open hybrid cloud innovation for enterprises worldwide. The companies are jointly investing in the co-development of new solutions to help organizations more seamlessly navigate a multi- and hybrid cloud world, define their strategy, and accelerate their pace of innovation to get to value faster.
Further, in August 2022, Ridge, a provider of edge clouds, launched a hybrid cloud, a brand-new all-inclusive cloud service. According to Ridge, its distributed cloud architecture allows businesses to unify business-critical apps across all their locations, whether on-premises or managed locations run by Ridge. According to the company, workloads can be transferred easily between different environments. Businesses can also manage them through a single portal, providing companies with a cohesive cloud experience across all public and private locations..
Function as a Service Market Leaders
Amazon Web Services Inc.
IBM Corporation
Google Inc.
Microsoft Corporation
SAP SE
*Disclaimer: Major Players sorted in no particular order
