USD 60.12 billion
Report ID: SQMIG45D2040 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 115 | Figures: 75
Global PaaS Market size was valued at USD 60.12 billion in 2021 and is poised to grow from USD 71.72 billion in 2022 to USD 351.09 billion by 2030, growing at a CAGR of 19.3% in the forecast period (2023-2030).
Platform-as-a-Service (PaaS) is a category of cloud computing services that offers a comprehensive collection of cloud-based application infrastructure and middleware (AIM) services. On its infrastructure, a PaaS provider hosts hardware and software. As a result, PaaS eliminates developers of the need to install on-premises hardware and software to develop or execute a new application.
Platform-as-a-service (PaaS) reduces costs and improves operational efficiency for companies and developers by delivering templates and app development tools as a utility, allowing for simple and inventive application development and delivery. Increased enterprise engagement at the appliance level, fueled by rising mobile penetration, is expected to fuel PaaS growth in the region. Many large cloud providers have entered the PaaS area in recent years, indicating the growing popularity of the service.
US PaaS Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 60.12 billion
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The Global Platform as a Service (PaaS) market is segmented based on Type, Services, Deployment, Organization, Application and Region. Based on Type it is categorized into: Software, Service. Based on Services it is categorized into: Consulting, Implementing, Training. Based on Deployment it is categorized into: Cloud, On-Premise. Based on Organization it is categorized into: Large Enterprises, Small and Medium Enterprises (SMEs). Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
PaaS Market Analysis by Deployment
Public cloud deployment holds a largest PaaS Market size in 2020. The public cloud industry is expanding as more SMEs adopt public PaaS. It provides a broad range of data recovery services as well as infrastructures such as hardware, operating systems, software, and middleware servers for running applications across several platforms. Furthermore, because public cloud services are simple to use, businesses are embracing them. Furthermore, with the use of public cloud solutions, platform solutions such as big data, data analytics, and the Internet of Things become more accessible (IoT). Various enterprises are migrating toward public cloud offerings to meet the growing demand for public cloud solutions. for instance, Red Hat OpenShift, is an open-source enterprise PaaS. The company's public PaaS version of OpenShift is available on Red Hat Enterprise Linux (RHEL).
PaaS Market Analysis by Organization Size
Large enterprises are expected to hold a majority of the PaaS Market share during the forecast period. Digitalization is becoming increasingly popular among large organizations. Because of the presence of a large workforce, major organizations are seeing increased interconnection of bandwidths and mobility trends. Large organizations have a large corporate network and numerous revenue streams. These firms are likewise ready to invest in new and cutting-edge technologies to run their operations more efficiently. The PaaS market has a stronghold in large organizations, as IT infrastructure in large enterprises becomes more complicated than in SMEs. The increased demand for employees to access computer resources and apps from any location and at any time has made it difficult for businesses to effectively preserve their data, maintain and manage their data centers, and focus on their core competencies.
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The Global PaaS Market is divided into five primary geographic regions: North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. For major verticals such as IT, BFSI, and telecoms, North America is projected to be the most potential market. The growing budget allocation for cloud services among organizations is likely to boost the market in North America even further. North America is expected to be the most potential market for main verticals such as telecommunications, information technology, and information technology-enabled services (ITeS), business and financial services (BFSI), and government and public sector. The North American PaaS market is likely to increase steadily throughout the forecast period, as organizations use innovative application development technologies at various levels as part of their plan to remain competitive.
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PaaS Market Driver
PaaS Market Restraint
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In today's highly competitive industry, increasing work agility and providing better client experiences have become critical. PaaS is being used by businesses in the BFSI, healthcare, IT and Telecom, and other industries to boost productivity and efficiency while lowering labor costs for repetitive operations.
By contributing to the delivery of a better client experience, these services have reduced manual intervention. Thereby, the need to automate repeated tasks across business domains, such as tech support, technology, finance, HR, operation, and procurement, is contributing to the PaaS Market growth.
PaaS Market Top Players Company Profiles
PaaS Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research has identified that increased cyber-attacks during the COVID-19 pandemic, along with an increase in cloud and virtualization technology applications in modern businesses, are some of the primary factors driving the PaaS Market growth during the forecast period. However, the platform as a service market's growth is hampered by more difficult and expensive initial installation, limited customization, and complex network management strategies.
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|Market size value in 2021||USD 60.12 billion|
|Market size value in 2030||USD 71.72 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global PaaS Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global PaaS Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global PaaS Market:
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