This is what is written on Reacts official website. Now to summarize why to use functional components over class components.

1. Simpler syntax: Functional components are easier to read, write, and maintain.
2. Hooks: Enable state and lifecycle features in functional components, making them just as powerful as class components.
3. No this: Avoids confusion and bugs related to the this keyword.
4. Reusability: Hooks promote reusable and modular code.
5. Performance: Functional components with hooks like React.memo offer easier performance optimizations.
6. Future-proof: Functional components align with the future direction of React.