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:
Restraint:
| 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: |
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| Segments covered: |
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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.
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:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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