Platform as a service is a solution of cloud computing that provide computing platform with environment to deploy cloud application and services over the internet. PaaS is very helpful to users to create software application easily by using cloud tools delivered by cloud provider. The PaaS solution is used to provide many benefits to the software companies such as flexibility, low maintenance and high efficiency. In addition, increasing adoption of cloud-based services among SMEs is expected to drive market growth during the forecast period.
The Global Platform as a Service Market is estimated to account for US$ 101,168.9 Mn in terms of value by the end of 2030.
Increasing demand for public cloud is expected to drive market growth during the forecast period. Most of companies are migrating to cloud services due to advantages offered by this software such as high flexibility, high availability, high efficiency, minimum investments, reduced complexity and many others. The increased adoption of cloud-based services among SMEs is expected to drive market growth during the forecast period. The cloud-based services enable SMEs to access advanced solutions such as big data, data analytics, internet of things (IoT) and others. Thus, large number of SMEs are implementing cloud services in order to improve efficiency in the organizations. This, in turn, increases the demand for platform as a service (PaaS) market.
Availability of pay-per-use feature is expected to propel the global platform as a service (PaaS) market growth over the forecast period. PaaS offers subscribers pay-per-use features wherein the user is required to pay a subscription fee, depending upon the business requirements. This is highly beneficial since the subscribers can use the platforms to develop, run, test, and deploy the applications as well as scale the number of users of the application as per requirement. Therefore, PaaS simplifies application development management, deployment, and scaling, thereby facilitating higher developer productivity and innovation. Moreover, Paas also provides a self-service, flexible and agile utility model which permits the uploading of compiled code in .NET or J2EE framework, and instantly deploys and runs standard- as well as custom-built applications. This lengthy process can now be completed faster, rather than consuming weeks/months. Hence, these factors are expected to propel the global platform as a service (PaaS) market growth over the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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