- Report ID: BMRC 1309 | Number of pages: 200 | Publish Date: Jan 2021
Status: Published | Category: Technology And Media | Delivery Timeline:
Platform as a service (PaaS) Market is valued at USD 12.06 Billion in 2020 and expected to reach USD 86.48 Billion by 2027 with the CAGR of 32.50% over the forecast period.
Platform as a service (PaaS) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2020- Increasing adoption of cloud based services and IoT technology among SMEs, growing demand of application development platforms in PaaS services with among others are the major driving factor for PaaS market.
Platform-as-a-service (PaaS) is a type of cloud computing offering in which a service provider delivers a platform to consumers, allowing them to develop, run, and manage business applications without the need to build and maintain the infrastructure such software development processes naturally require. One of the major benefits of platform as a service (PaaS) is its ability to improve a developer's productivity. PaaS provides direct support for business agility by enabling rapid development with faster and more frequent delivery of functionality. PaaS systems typically build in security and data-protection features including flexibility capabilities such as replication and backups. This can improve security and reduce the need for in-house security skills. As a result, PaaS frees developers from having to install in-house hardware and software to develop or run a new application.
Global Platform as a service (PaaS) market report is segmented on the basis of type and application. Based upon type Platform as a service (PaaS) is classified into Public cloud, Private cloud and Hybrid cloud. Based upon application Platform as a service (PaaS) is classified into Banking, Financial Services, and Insurance (BFSI), Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences, Manufacturing, Media and entertainment, Telecommunication and Information Technology Enabled Services (ITES) and others.
The regions covered in this global Platform as a service (PaaS) market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level market of Platform as a service (PaaS) is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Platform as a service (PaaS) market Report covers prominent players are like, Dell Boomi, Informatica, Mulesoft, Snaplogic, Celigo, IBM, Oracle, Jitterbit, Scribe Software, Dbsync, Flowgear, SAP , Others.
IBM to expand client base for cloud services
News: - Sep 17, 2019, IBM will focus beyond its top 200 enterprise customers for its cloud business in India as more clients start hosting applications on the internet, a senior company executive told ET. Until now, the company had focused on the top 200 enterprises for its cloud offerings. On a smaller base, they are seeing triple-digit revenue growth in the commercial segment as we focus on acquiring more customers. Meanwhile, they are going deeper with existing enterprise customers,” said Vikas Arora, IBM cloud and cognitive software leader for India region.
Increasing adoption of cloud based services and IoT technology among SMEs, growing demand of application development platforms are the factors, which are expected to drive the growth of PaaS market. Cloud adoption is a strategy used by enterprises to improve the scalability of Internet-based database capabilities while reducing cost and risk. To accomplish this, businesses engage in the practice of cloud computing or using remote servers presented on the Internet to store, manage, and process critical data. According to International Data Corporation, Professional services account for 12.2% of the global cloud spending. Furthermore, experts say 60% of workloads are running on a hosted cloud service in 2019. For position, the cloud hosted 45% of workloads in 2018. Cloud adoption is a strategy used by enterprises to improve the scalability of Internet-based database capabilities while reducing cost and risk. Incorporating IoT into processes is essential for SME business growth and data is a big part of that. Recovering and analyzing big data analytics allows SMEs to better interact with their customers and therefore improve efficiency, reduce operational costs, validate decisions and identify trends. Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. SMEs account for the majority of businesses worldwide and are important contributors to work creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide. Recognized SMEs contribute up to 40% of national income (GDP) in emerging economies. These numbers are significantly higher when informal SMEs are involved. According to our estimates, 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world. However, high risk of vendor lock-in due to loss of business continuity on switching is expected to hinder the growth of the PaaS market, during the forecast period. The increasing level of investments by business leaders and public/ private capital holders towards the development of advanced and sophisticated mobile, enterprise, and web applications, promises an opportunity for the growth of the a PaaS market in near future.
North America is expected to dominate the growth of Platform as a service (PaaS) Market, due the rising needs of IT solutions such as agility, scalability, Pay-per-use based pricing, and reduced cost & time. According to international trade administration, the United States has the most advanced software and information technology (IT) services industry in the world. More than 40 percent of the USD5 trillion global IT market is in North America, primarily the United States. The industry accounts for USD1.8 trillion of U.S. value-added GDP and 11.8 million Occupations. According to CompTIA, there are more than 525,000 software and IT services companies in the United States. Europe is second largest region for the growth of Platform as a service (PaaS) Market, due to growing popularity of cloud based services among enterprises, higher employer productivity by reducing application development efforts and resource sharing enhancements among various projects. Asia Pacific are expected to the fastest growing markets for PaaS owing to the rapid technological as well as infrastructural advancements coupled with high growth in sectors such as telecom, and IT in the regions in forecast period.
Key Benefits for Global Platform as a service (PaaS) Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Product: Public cloud, Private cloud, Hybrid cloud
By Application: Banking, Financial Services, and Insurance (BFSI), Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences, Manufacturing, Media and entertainment, Telecommunication and Information Technology Enabled Services (ITES), Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Platform as a service (PaaS) Market Size By Product (Public cloud, Private cloud, Hybrid cloud), By Application (Banking, Financial Services, and Insurance (BFSI), Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences, Manufacturing, Media and entertainment, Telecommunication and Information Technology Enabled Services (ITES), Others) Forecast 2021-2027