What is Azure Function Consumption plan?

When you're using the Consumption plan, instances of the Azure Functions host are dynamically added and removed based on the number of incoming events. The Consumption plan is the fully serverless hosting option for Azure Functions.

The Consumption plan scales automatically, even during periods of high load. When running functions in a Consumption plan, you're charged for compute resources only when your functions are running. On a Consumption plan, a function execution times out after a configurable period of time.

Billing is based on number of executions, execution time, and memory used. Usage is aggregated across all functions within a function app.