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You’ve likely heard of SaaS, and you may have heard of PaaS and IaaS, but have you heard of Function as a Service (FaaS)?
The FaaS market is growing quickly. According to Allied Market Research, the market was worth $3.01 billion in 2018. This number is expected to grow to $24 billion by 2026 — meaning the industry will grow at a Compound Annual Growth Rate (CAGR) of 29.7% from 2020 to 2026.
Looking at that growth, it’s safe to say FaaS is a pretty big deal.