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.
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Platform as a Service (PaaS) Market Coverage
Report Coverage | Details | ||
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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 |
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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. |
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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
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.
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