Platform as a Service market size accounted for $45.21 billion in 2020 globally and is projected to reach $321 billion by 2030, registering a CAGR of 23.1% from 2021 to 2030.
Platform as a Service/Application Platform as a Service are categories of cloud computing services. In PaaS, customers are provided with a computing platform and various solutions or tools for application development. PaaS helps develop applications or services without the complexity of provisioning hosted functions and the cost of managing and purchasing underlying software and hardware. As such, PaaS provides low upfront costs, resource sharing, incremental costs as service usage grows, managed services, automated deployment, reuse, and lifecycle management.
Market Dynamics:
Drivers:
Rapid digitization across the globe is increasing the adoption of the Platform as a Service (PaaS) market, contributing to market growth. Increasing usage of PaaS by enterprises is fueling market growth during the forecast period because it is easy to operate, cost-effective, and provides development tools and templates. A growing number of digital enterprises combined with increased capital investment in enterprise, web, and mobile application development is expected to create lucrative opportunities for market growth. Additionally, advances in technology such as AI capabilities and integration are expected to provide major opportunities for market expansion.
Restraints:
High segmentation of the market is expected to hamper the global Platform as a Service (PaaS) market growth during the forecast period. Lack of awareness leading to low adoption by SMEs is expected to hamper the growth of the platform as a service (PaaS) market over the forecast period.
Key players:
-
AWS
-
Microsoft
-
Alibaba Cloud
-
IBM
-
Salesforce
-
Google
-
Oracle
-
SAP
-
Zoho Corporation
-
Mendix
Market Segmentation:
Platform As a Service (Paas) Market, By Type
-
Database PaaS (dbPaaS)
-
Application PaaS (aPaaS)
-
Integration PaaS (iPaaS)
-
Others
Platform As a Service (Paas) Market, By Deployment Mode
-
Private
-
Public
Platform As a Service (Paas) Market, By Organization Size
-
Large Enterprises
-
SMEs
Platform As a Service (Paas) Market, By Industry Verticals
-
BFSI
-
Consumer goods and retail
-
Telecommunication
-
IT and ITeS
-
Manufacturing
-
Healthcare and life sciences
-
Energy and utility
-
Others
Platform As a Service (Paas) Market, By Region
-
North America
-
U.S.
-
Canada
-
-
Europe
-
UK
-
Germany
-
France
-
Spain
-
Italy
-
Finland
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
India
-
Japan
-
India
-
Australia
-
South Korea
-
Southeast Asia
-
Rest of Asia-Pacific
-
-
LAMEA
-
Latin America
-
Middle East
-
Africa
-
Regional Analysis:
Asia Pacific is projected to expand at the highest CAGR of XX% from 2022 to 2030. China and India are contributing to the market growth due to the increasing adoption of cloud services along with a rising number of SMEs in the region. SMEs greatly adopt cloud-based services such as PaaS to reduce the cost and complexity of software development. Moreover, significant growth in the IT industry is expected to provide ample opportunities for the market. Additionally, increasing spending by SMEs on cloud infrastructure in China and India further contributed to the market growth during the forecast period.
North America is estimated to hold a major market share of over 50% in 2021. The US is fully contributing to market revenue growth. The presence of well-established PaaS providers such as Amazon Web Services Inc, Google LLC, Microsoft Corp, etc. is one of the reasons for market growth. In addition, well-established IT infrastructure encourages the easy deployment of cloud-based virtual services, contributing a major share of the global PaaS market. Additionally, enterprises' high budget allocation for adopting cloud applications for software development further contributed to the top market share.
Europe held the second largest share of the global PaaS market with over 20% in 2021 and is expected to expand at a significant CAGR of 19.0% during the forecast period. The growth of the market is due to the increasing adoption of PaaS in enterprises and data centers due to its various benefits. Moreover, increasing usage of mobile applications is expected to further propel the platform as a service (paas) market growth. Additionally, the growing demand for PaaS adoption over on-premise infrastructure and legacy is further fueling the platform as a service (paas) market growth in the region.
|
Report Metric |
Details |
|
Market Size Available for Years |
2020–2030 |
|
Base Year Considered |
2020 |
|
Forecast Period |
2021–2030 |
|
Forecast Unit |
Value (USD) |
|
Segments Covered |
Offering, Technology, Application, End-User, and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, and LAMEA |
|
Companies Covered |
AWS, Alibaba Cloud, Microsoft, IBM, Salesforce, Google, Oracle, SAP, Zoho Corporation, Mendix |
User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
Avail 25% Discount
Report Benefits
-
Free Customization Available
-
30% discount on your next purchase
-
Dedicated account manager
-
Query resolution within 24 hours
-
Permission to print the report