The Global Platform as a Service (PaaS) Market Report by The Business Research Company Covers Platform as a Service Market Drivers And Restraints, PaaS Market Size, Major Players, And The Impact Of COVID-19 On The PaaS Market.
The Platform as a Service (PaaS) market consists of sales from cloud-based platform services. PaaS is a cloud computing model that provides a platform to the customers to develop, run and manage applications over the internet. Revenue in the market is generated by the companies by way of subscriptions and licenses from web/software developers or other business households. There are four different types of PaaS which can be classified as computing platforms, web applications, business application and social applications. The global revenue of this industry is the cumulative revenue of all the companies engaged in providing any of the above services. Some of the PaaS providers are Salesforce, Heroku, Amazon Web Service (AWS), Elastic Beanstalk and Microsoft Azure etc.
Many companies are outsourcing application and webhosting to third party managed hosting services companies to reduce the IT infrastructure costs. Procurement of servers, storage devices and other software applications and hire professionals to develop and maintain websites and host applications are much more expensive for businesses than outsourcing these functions to third party managed services companies.
The global platform as a service (PaaS) market is expected to grow from $47.29 billion in 2020 to $54.09 billion in 2021 at a compound annual growth rate (CAGR) of 14.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The PaaS market is expected to reach $88.11 billion in 2025 at a CAGR of 13%.
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Some platform as a service market trends include companies in the industry increasingly preferring hybrid cloud solutions to increase efficiency, innovation, and reduce costs. Hybrid Cloud refers to a cloud infrastructure environment that is a mixture of private cloud, on-premises computing and public cloud solutions. Platform as a service providing companies in the industry are leveraging this technology to enhance their agility, capability, increase development & deployment speed, and reduce IT costs.
Global platform as a service (PaaS) market segments include:
1) By Type: Application Infrastructure And Middleware (AIM), Database Management Systems (DBMS), Business Intelligence Platform (BIP), Application Development On Cloud.
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud.
3) By End User: Financial Institutions And Services (BFSI), Technology, Retail, Distribution, Education Services, Travel And Transport, Healthcare And Life Sciences, Others.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Platform as a service (PaaS) Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides platform as a service (PaaS) market overviews, analyzes and forecasts market size, share, platform as a service (PaaS) market players, platform as a service (PaaS) market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The platform as a service (PaaS) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Platform as a service (PaaS) Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Amazon web service, Salesforce Platform, IBM Cloud Foundry, Microsoft Azure, Google Cloud Function, Red Hat, Inc., Oracle Cloud PaaS, SAP SE, Engine Yard, ActiveState Software Inc., Software AG, VMware Inc. , Cloud Foundry, EMC Corporation, AT&T Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The platform as a service (PaaS) Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The platform as a service (PaaS) Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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