Platform as a Service Market Size, Trends and Forecast to 2030

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

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 (PaaS) Market Share by Region

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.

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.