Platform-as-a-Service (PaaS) Market

Platform as a Service (PaaS) Market is estimated to witness a strong CAGR of 23.4% during forecast period, reaching a value of USD 191 Billion by 2027, owing to the rising focus of small and medium enterprises for reducing their cost and time for application development and streamlining application management.

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Major Platform-as-a-Service (PaaS) Market Drivers

Factors driving growth of the market includes, rise in the number of organizations are opting to invest in “at-a-service” technology offerings such as the platform-as-a-service, or PaaS model, commercialization of 5G technology, Government initiatives promoting the use of cloud computing solutions and improvements in the living standards. According to the National Digital Communications Policy 2018, Government of India plans to make India a global hub for cloud computing, through this policy Government aims to provide incentives for the establishment of international data centers and content delivery networks, which is expected to accelerate the PaaS Market Growth in the approaching years. PaaS is increasing adopted by enterprises who undergo digital transformation because it helps enterprises to work efficiently, deliver apps quickly, and enhance customer engagement, which is expected to generate tremendous opportunities in the market. Increasing investment in PaaS by cloud mega-vendors such as AWS, Microsoft, and Google on research and development, growing adoption of advanced technologies such as Artificial Intelligence (AI), and Big Data Analytics, rapid urbanization, and complexities in modern day business models, are some of the additional factors supplementing the PaaS Market size. Increasing demand for Platform as a Service (PaaS) solutions across end-use industries such as Banking, Financial Services & Insurance (BFSI), Healthcare and Logistics & Transportation, strategic partnerships and collaborations between key industry players, and pay-per-use features of PaaS solutions, are further pushing the PaaS Market Share. However, security concern related to public cloud usage and lack of awareness are hampering the growth of the Platform as a Service (PaaS) Market.

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Implementation Model: Segment Analysis

Based on an implementation model, hybrid cloud segment is projected to grow at a higher CAGR during the forecast period due to the accelerating adoption of hybrid cloud solutions by major companies such as Amazon, Microsoft, and VMW to enhance efficiency and for minimizing cost. The hybrid cloud is the combination of public, private cloud, and on-premises cloud. PaaS providing companies are leveraging this technology to improve their agility, increase deployment, and lower IT costs. For instance, Amazon Web Service has developed a set of hybrid capabilities in the industry to capitalize on the global market.

On the other hand, Public Cloud segment is predicted to expand at a remarkable CAGR over the forecast period. Public cloud solutions provide infrastructure such as OS, Software, and middleware solutions, do not require maintenance, and enhances scalability, are some of the features propelling growth of the segment.

Vertical: Segment Analysis

Based on vertical, Banking, Financial Services & Insurance (BFSI)segment is expected to grow at a faster CAGR in the global Platform-as-a-Service (PaaS) market over the forecast period due to the increasing adoption of cloud computing and the rising digitalization. The BFSI sector is increasingly adopting PaaS services to enhance productivity, improve customer experience, reduce IT infrastructure cost, and enhance data security.

End-User: Segment Analysis

Based on End-User, Large Enterprises segment is anticipated to capture the largest market share during the forecast period. Rising adoption of latest technologies by large organizations, emerging complexities in the IT infrastructure, and rising connectivity of bandwidths, are some of the factors propelling growth of the segment.

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Regional Analysis

Based on region, Asia-pacific is projected to dominate the global Platform-as-a-Service (PaaS) market over the forecast period. As per the PaaS Market Forecast, the increasing availability of skilled labor and the growing adoption of cloud computing by SMEs and large enterprises, Government policies promoting the adoption of cloud services, rapid industrialization, increasing digitalization and high population growth rates, are propelling the market growth in Asia-Pacific region.

North America is estimated to witness a significant CAGR over the forecast period. According to the PaaS Market Trends, presence of the leading players such as Microsoft Corp., Amazon Web Services Inc, Google LLC., rising budget allocation of companies for adopting cloud services, growing adoption of advanced technologies, are some of the important factors augmenting the market growth in North America.

Top Market Players

Various notable players in the Platform-as-a-Service (PaaS) market include Amazon Web Service, Microsoft Corporation, Google LLC, Salesforce.com, Inc., Oracle Corporation, VMware, Inc., Rackspace Inc., Adobe, Inc., Verizon, SAP SE, and Alibaba Cloud, among others.

Key Developments:

• • In November 2022- Abu Dhabi Global Market (ADGM) decided to enter into a strategic partnership with Rackspace Technology®, to collaborate on a number of technology initiatives.
  • In March 2022, The Adobe decided to expand its partner ecosystem, along with developers for delivering more personal experiences to millions, while boosting content velocity and making customer journeys seamless.
  • In Jan 2021, SAP presented its plant for creating the world’s largest business network with SAP Business Network, which will bring together Ariba Network, SAP Logistics Business Network and SAP Asset Intelligence Network.
  • In Oct 2019, Microsoft entered into USD 10 billion cloud contract from Pentagon. The Joint Enterprise Defence Infrastructure (JEDI) will provide enterprise-level, commercial Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) to support the Department of Defence business and mission operations.
  • In Aug 2019, VMWare acquired Carbon Black, a publicly traded security company that focuses on securing modern cloud-native workloads. Through this acquisition of Carbon Black, the company aimed to expands its scope into Cloud-native IT networking and security solutions powered by Big Data and emerging Cloud Computing technologies.
  • In Sept 2019, Oracle decided to launch 20 new Oracle Cloud regions 2020, for a total of 36 Oracle Cloud Infrastructure regions. This expansion includes regions in such as Brazil, U.K., EU, Japan, South Korea, and India.

Segments covered in the Report:

The Global Platform-as-a-Service (PaaS) market has been segmented based on the solution, application, implementation models, end-user, industry, and region. Based on the solution, the market is categorized into Business Application Platforms, Raw Computing Platforms, Social Application Platforms, and Web Application Platforms. Based on the Application, the market is segmented Application Development and Management PaaS (ADM PaaS), Business Process Management PaaS (BPM PaaS), Application PaaS (APaaS) Integration PaaS (IPaaS), And Other PaaS. Based on the implementation model, the market is segmented into Public Cloud, Private Cloud, And Hybrid Cloud. Based on end-user, the market is segmented into Enterprises, And Small & Medium Businesses (SMB). Based on the Industry, the market is segmented into Banking, Financial Services & Insurance (BFSI), Consumer Goods & Retail, Education, Gaming, Healthcare, Logistics & Transportation, Public Sector & Government, Telecommunications & IT, Travel & Hospitality, And Others.

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Key questions answered in this research report:

• • At what pace is the global Platform-as-a-Service (PaaS) market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Platform-as-a-Service (PaaS) market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Platform-as-a-Service (PaaS) market?
  • Which implementation models generated maximum revenues in 2019 and identify the most promising implementation models during the forecast period?
  • What are the various application areas of global Platform-as-a-Service (PaaS) market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Platform-as-a-Service (PaaS) Market by Solution         

• • Business Application Platforms
  • Raw Computing Platforms
  • Social Application Platforms
  • Web Application Platforms

Global Platform-as-a-Service (PaaS) Market by Application   

• • Application Development and Management PaaS (ADM PaaS)
  • Business Process Management PaaS (BPM PaaS)
  • Application PaaS (APaaS)
  • Integration PaaS (IPaaS)
  • Other PaaS

Global Platform-as-a-Service (PaaS) Market by Implementation Models           

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Platform-as-a-Service (PaaS) Market by End-User       

• • Enterprises
  • Small & Medium Businesses (SMB)

Global Platform-as-a-Service (PaaS) Market by Industry        

• • Banking, Financial Services & Insurance (BFSI)
  • Consumer Goods & Retail
  • Education
  • Gaming
  • Healthcare
  • Logistics & Transportation
  • Public Sector & Government
  • Telecommunications & IT
  • Travel & Hospitality
  • Others

Global Platform-as-a-Service (PaaS) Market by Region

• • North America Platform-as-a-Service (PaaS) Market (Option 1: As a part of the free 25% customization)

    • North America Platform-as-a-Service (PaaS) Market by Solution
    • North America Platform-as-a-Service (PaaS) Market by Application
    • North America Platform-as-a-Service (PaaS) Market by Implementation Mode
    • North America Platform-as-a-Service (PaaS) Market by End-User
    • North America Platform-as-a-Service (PaaS) Market by Industry
    • US Platform-as-a-Service (PaaS) Market All-Up
    • Canada Platform-as-a-Service (PaaS) Market All-Up

  • Europe Platform-as-a-Service (PaaS) Market (Option 2: As a part of the free 25% customization)

    • Europe Platform-as-a-Service (PaaS) Market by Solution
    • Europe Platform-as-a-Service (PaaS) Market by Application
    • Europe Platform-as-a-Service (PaaS) Market by Implementation Mode
    • Europe Platform-as-a-Service (PaaS) Market by End-User
    • Europe Platform-as-a-Service (PaaS) Market by Industry
    • Spain Platform-as-a-Service (PaaS) Market All-Up
    • Germany Platform-as-a-Service (PaaS) Market All-Up
    • UK Platform-as-a-Service (PaaS) Market All-Up
    • France Platform-as-a-Service (PaaS) Market All-Up
    • Rest of Europe Platform-as-a-Service (PaaS) Market All-Up

• • Asia-Pacific Platform-as-a-Service (PaaS) Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Solution
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Application
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Implementation Mode
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by End-User
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Industry
    • China Platform-as-a-Service (PaaS) Market All-Up
    • India Platform-as-a-Service (PaaS) Market All-Up
    • Japan Platform-as-a-Service (PaaS) Market All-Up
    • Rest of APAC Platform-as-a-Service (PaaS) Market All-Up

  • ROW Platform-as-a-Service (PaaS) Market (Option 4: As a part of the free 25% customization)

    • ROW Platform-as-a-Service (PaaS) Market by Solution
    • ROW Platform-as-a-Service (PaaS) Market by Application
    • ROW Platform-as-a-Service (PaaS) Market by Implementation Mode
    • ROW Platform-as-a-Service (PaaS) Market by End-User
    • ROW Platform-as-a-Service (PaaS) Market by Industry
    • Brazil Platform-as-a-Service (PaaS) Market All-Up
    • UAE Platform-as-a-Service (PaaS) Market All-Up
    • South Africa Platform-as-a-Service (PaaS) Market All-Up
    • Saudi Arabia Platform-as-a-Service (PaaS) Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Platform-as-a-Service (PaaS) Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Amazon Web Service
  • Microsoft Corporation
  • Google LLC
  • com, Inc.
  • Oracle Corporation
  • VMware, Inc.
  • Rackspace Inc.
  • Adobe, Inc.,
  • Verizon
  • SAP SE
  • Alibaba Cloud