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Platform as a service or also referred to as an application platform as a service is a category of cloud computing services. In PaaS customers are provided with a computing platform and various solutions or tools to develop applications. PaaS helps in the development of applications or services without the complexity of provisioning hosting capabilities and the cost of managing and buying the underlying software and hardware. Thus, PaaS provides low initial cost, resource sharing, incremental cost with growth in your service usage, management services, automated deployment, reuse, and life-cycle management.

The global platform as a service (PaaS) market is estimated to account for US$ 101,168.9 Mn in terms of value by the end of 2030.

Recent Developments:

  • In January 2021, Microsoft, a technology corporation, launched a new wisely blockchain-enabled PaaS service that was made available for businesses, mobile carriers, OTT providers, marketers, and industry regulators to enhance their level of service.
  • In May 2021, Google Cloud, a suite of cloud computing services, introduced Vertex AI. A managed ML platform that enables businesses to manage models more quickly and easily in order to keep up with changing business requirements.

Restraint:

  • High fragmentation of the market is expected to hamper the global platform as a service (PaaS) market growth over the forecast period
  • Lack of awareness leading to low adoption by SMEs is expected to hinder growth of the global platform as a service (PaaS) market during the forecast period
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Platform as a Service (PaaS) Market Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 10,243.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 29.2% 2030 Value Projection: US$ 101,168.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Implementation Type: Public Cloud, Private Cloud and Hybrid Cloud
  • By Type: Application Development, AIM, Business Intelligence Platform and Database Management Systems
Companies covered:

ActiveState Software Inc., AT&T Inc., Salesforce.com, Inc., VMware Inc., Amazon.com, Inc., Software AG, Google, Inc., EMC Corporation, Microsoft Corporation, SAP SE, IBM Corporation, Red Hat, Inc., and Oracle Corporation.

Growth Drivers:
  • Rising demand for flexibility, scalability, and agility is expected to drive growth of the global platform as a service (PaaS) market during the forecast period
  • Availability of pay-per-use features and high efficiency are expected to propel the global platform as a service (PaaS) market growth over the forecast period
Restraints & Challenges:
  • High fragmentation of the market is expected to hamper the global platform as a service (PaaS) market growth over the forecast period
  • Lack of awareness leading to low adoption by SMEs is expected to hinder growth of the global platform as a service (PaaS) market during the forecast period

Platform as a Service Market - Impact of Coronavirus (Covid-19) Pandemic:

Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. There was a significant impact on the platform as a service (PaaS) market, as most countries had announced lockdowns and many industries rapidly closed their business to reduce the spread of the COVID-19 pandemic. Further, the healthcare sector needed more secure and scalable cloud infrastructure in order to maintain proper patient information with high speed and flexibility. Hence, during the pandemic, there was a high need for advanced technologies such as cloud computing, and big data analytics for the analysis of patient data.

All such factors lead to the high growth of the platform as a service (PaaS) market during a pandemic

Figure 1: Global Platform as a Service (PaaS) Market Share (%), By Region, 2021

Platform as a Service  | Coherent Market Insights

North America held a dominant position in the global platform as a service (PaaS) market in 2021

Statistics:

North America region dominated the global platform as a service (PaaS) market in 2021, accounting for a 31.2% share in terms of value, followed by Asia Pacific, Europe, and Latin America, respectively

Figure 2: Global Platform as a Service (PaaS) Market (US$ Mn) Analysis and Forecast, 2017 - 2030

The global platform as a service (PaaS) market was valued at US$ 10,243.5 Mn in 2021 and is expected to reach US$ 101,168.9 Mn by 2030, growing at a CAGR of 29.2% between 2022 and 2030.

Major players operating in the global platform as a service (PaaS) market are ActiveState Software Inc., AT&T Inc., Salesforce.com, Inc., VMware Inc., Amazon.com, Inc., Software AG, Google, Inc., EMC Corporation, Microsoft Corporation, SAP SE, IBM Corporation, Red Hat, Inc., and Oracle Corporation.

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.

Market Dynamics

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:

  • This report provides an in-depth analysis of the global platform as a service (PaaS) market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global platform as a service (PaaS) market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global platform as a service (PaaS) market are ActiveState Software Inc., AT&T Inc., Salesforce.com, Inc., VMware Inc., Amazon.com, Inc., Software AG, Google, Inc., EMC Corporation, Microsoft Corporation, SAP SE, IBM Corporation, Red Hat, Inc., and Oracle Corporation.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global platform as a service (PaaS) market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global platform as a service (PaaS) market.

Detailed Segmentation

  • Global Platform as a Service Market, By Implementation Type:
    • Public Cloud
    • Private Cloud
    • Hybrid Cloud
  • Global Platform as a Service Market, By Type:
    • Application Development
    • AIM
    • Business Intelligence Platform
    • Database Management Systems
  •  Global Platform as a Service Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • ActiveState Software Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • AT&T Inc.
    • Salesforce.com, Inc.
    • VMware Inc.
    • Amazon.com, Inc.
    • Software AG
    • Google, Inc.
    • EMC Corporation
    • Microsoft Corporation
    • SAP SE
    • IBM Corporation
    • Red Hat, Inc.
    • Oracle Corporation.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global platform as a service (PaaS) market is expected to reach US$ 101,168.9 million by 2030.
The market is expected to witness a CAGR of 29.2% during the forecast period (2022-2030).
Major factor driving the growth of market during the forecast period is availability of pay-per-use and high efficiency. 
Hybrid cloud segment held the major market share in 2021 owing to many advantages provide by hybrid cloud such as high flexibility, high scalability and high efficiency
North America held the largest share in the market in 2021.
Key players operating in the market are ActiveState Software Inc., AT&T Inc., Salesforce.com, Inc., VMware Inc., Amazon.com, Inc., Software AG, Google, Inc., EMC Corporation, Microsoft Corporation, SAP SE, IBM Corporation, Red Hat, Inc., and Oracle Corporation.

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