USD 65.49 billion
Global Platform-as-a-Service Market Size, Share, Growth Analysis, By Type(Application PaaS (aPaaS), Integration PaaS (iPaaS)), By Implementation Model(hybrid cloud and private cloud), By Deployment Mode(Public, Private. Based on Organization Size the market is segmented as), By Organization Size(Large Enterprises, SMEs), By Industry Verticals(BFSI, Consumer goods and retail) - Industry Forecast 2024-2031
Report ID:
SQMIG45F2103 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
148 |
Figures:
75
Global Platform-as-a-Service Market Insights
Global Platform-as-a-Service Market size was valued at USD 65.49 billion in 2022 and is poised to grow from USD 79.90 billion in 2023 to USD 392.12 billion by 2031, growing at a CAGR of 22% in the forecast period (2024-2031).
Platform-as-a-Service (PaaS) stands as a pivotal facet within cloud computing, offering an extensive array of cloud-based application infrastructure and middleware (AIM) resources. This innovative model provides developers with a comprehensive suite of tools and services accessible through the cloud. By partnering with a PaaS provider, businesses gain access to a hosted environment where both hardware and software are maintained and managed by the service provider.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hybrid cloud
Fastest Growth
private cloud
Growth Rate
22% CAGR
Global Platform-as-a-Service Market ($ Bn)
Country Share for North America Region (%)
Global Platform-as-a-Service Market By Implementation model ($ Bn)
Global Platform-as-a-Service Market By Implementation model (%)
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Global Platform-as-a-Service Market Segmental Analysis
The global platform-as-a-service market is segmented on the basis of implementation model, type, deployment mode, organization size, industry verticals and region. Based on the implementation model the market is segmented into hybrid cloud and private cloud. Based on type the market is segmented as, application paas (apaas), integration paas (ipaas), database paas (dbpaas), others. Based on deployment mode the market is segmented as, public, private. Based on organization size the market is segmented as, large enterprises, SMEs. Based on industry verticals the market is segmented as, bfsi, consumer goods and retail, telecommunication, IT and ITeS, manufacturing, healthcare and life sciences, energy and utility, others. Based on region the market is segmented as, North America, Europe, Latin America, Asia Pacific, and MEA.
Analysis By Implementation Model
The forecasted period anticipates a surge in the growth rate of the hybrid cloud segment, primarily propelled by the rapid adoption of hybrid cloud solutions by industry giants such as Amazon, Microsoft, and VMWare. These major companies are embracing hybrid cloud architectures to optimize operational efficiency and curtail expenses effectively. Hybrid cloud, characterized by its amalgamation of public, private, and on-premises cloud infrastructures, is gaining prominence as a preferred solution.
The public cloud segment is poised for substantial expansion, forecasted to exhibit a remarkable compound annual growth rate (CAGR) over the projected period. This surge in growth is propelled by the inherent features and advantages offered by public cloud solutions. These solutions deliver a comprehensive infrastructure inclusive of operating systems, software, and middleware solutions, relieving users from the burdens of maintenance and upkeep.
Analysis By Organization Size
The large enterprises segment is projected to secure the largest market share within the landscape. This dominance is attributed to several pivotal factors driving its expansion. Large organizations are increasingly embracing cutting-edge technologies, fueling their demand for advanced cloud services and solutions.
The SMEs (Small and Medium-sized Enterprises) segment plays a pivotal role in the Platform-as-a-Service (PaaS) market, contributing significantly to its dynamism and growth. For SMEs, PaaS offerings serve as a catalyst for innovation and growth by providing accessible, cost-effective, and scalable solutions. These businesses often have limited resources and IT capabilities, making PaaS an attractive option to streamline their operations, accelerate development cycles, and foster agility.
Global Platform-as-a-Service Market By Implementation model , 2023 (%)
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Global Platform-as-a-Service Market Regional Insights
North America emerges as a highly promising region, particularly for significant verticals including information technology (IT), banking, financial services, and insurance (bfsi), as well as telecommunications. This region is poised to witness substantial growth, driven by the escalating budget allocations dedicated to cloud services by enterprises. The strategic emphasis on cloud adoption within North American enterprises serves as a pivotal force propelling the market.
The Asia Pacific region is poised to experience the highest CAGR in the forecasted period within the platform-as-a-service (PaaS) market. This upward trajectory is attributed to a growing emphasis on enhancing business scalability, bolstering performance, fortifying security measures, and optimizing operations. These strategic initiatives aim to ensure business resilience, sustainability, and effective control of infrastructure expenses.
Global Platform-as-a-Service Market By Region, 2024-2031
- Largest
- Fastest
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Global Platform-as-a-Service Market Dynamics
Drivers
Increase in Complexity of Modern-Day Businesses
- Complexity burgeons with an array of variables to process, vast volumes of data to manage, and an extensive list of tasks demanding completion. Platform-as-a-Service (PaaS) emerges as a strategic ally, alleviating the burden on organizations by redirecting the focus towards development and core business operations. This shift allows businesses to circumvent the allocation of crucial and costly IT resources solely for infrastructure management.
Restraints
Rising Cyber-Attacks to Hinder Market Growth
- The surge in cyber-attacks witnessed amid the COVID-19 pandemic has significantly contributed to the heightened demand for platform-as-a-service (PaaS) solutions. This uptick in attacks, coupled with the expanding application of cloud and virtualization technologies across contemporary businesses, acts as a driving force fueling the market's growth prospects. However, despite this momentum, certain challenges impede the unfettered expansion of the PaaS market.
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Global Platform-as-a-Service Market Competitive Landscape
The competitive environment of the Global Platform-as-a-Service Market is characterized by a dynamic interplay of key players and evolving strategies within the food processing industry. Innovation is a key competitive factor. smaller and niche players are making a notable impact by focusing on specialized solutions.
Top Player’s Company Profiles
- Alibaba Cloud
- Salesforce
- Oracle
- SAP
- Zoho Corporation
- Mendix
- Render
- CircleCI
- Tray.io
- Cloud 66
- AppHarbor
- Jelastic
- Platform.sh
Recent Developments
- In January 2023, The U.S. defense contractor known for its significant dominance by major players, is on the verge of further consolidation following L3Harris Technologies' substantial USD 4.7 billion acquisition of Aerojet Rocketdyne.
- In January 2023, the biopharmaceutical industry witnessed its most substantial transaction of the year with Amgen's late-stage proposal to acquire Horizon Therapeutics for a staggering USD 26.4 billion.
Global Platform-as-a-Service Key Market Trends
Technological Advancements in the Field of Cloud Computing
- Cloud computing has revolutionized technology, enhancing productivity, efficiency, and scalability to meet the evolving demands of the business landscape. Within this transformation, Platform-as-a-Service (PaaS) offerings have emerged as a game-changer. These services now offer accessibility with minimal or no-code experience, granting small and medium enterprises unprecedented agility in strategizing and executing operations.
Global Platform-as-a-Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global platform-as-a-service market analyses, the market is driven by the imperative to reduce both time to market and application development costs while optimizing application management processes. However, amidst these growth drivers, certain obstacles stand as potential hurdles. The phenomenon of cloud washing, where services are misrepresented as cloud-based despite not offering genuine cloud benefits, poses a challenge by muddling market clarity and hindering PaaS growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 65.49 billion |
| Market size value in 2031 | USD 392.12 billion |
| Growth Rate | 22% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Platform-as-a-Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Platform-as-a-Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Platform-as-a-Service 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 Platform-as-a-Service 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Platform-as-a-Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Platform-as-a-Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Platform-as-a-Service Market Report Snapshots
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