Platform as a Service (PaaS) Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030

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Platform as a Service (PaaS) Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030

Status : June, 2021 | Technology & Media

Report Digest

Platform as a Service (PaaS) Market: Overview

The Platform as a Service (PaaS) market is estimated to maintain a positive growth trajectory across the assessment period of 2020-2030. The PaaS market will extensively gain on the advantages it provides to various companies and organizations. PaaS is very beneficial for small and medium-sized enterprises due to a large number of benefits and hence, this factor bodes well for the growth of the PaaS market.

PaaS falls under the category of cloud computing services. It is a cloud-based service that helps in building applications effectively and efficiently. The speed of the application development is extremely fast as compared to in-house development. The service helps in eliminating the complexity and cost of application development on a massive scale. It supports complete application development right from testing, building, updating, managing, and deploying. Thus, all these aspects are helping in increasing the growth prospects of the PaaS market.

Precisely, PaaS technology offers many companies a virtual infrastructure that includes storage and network equipment, software, data centers, app-building tools, servers, and others, which make them a great pick for many companies and firms. These factors have a large share in boosting the growth opportunities across the PaaS market.

Various types of services are covered under PaaS such as database PaaS, application PaaS, integration PaaS, and others. On the basis of deployment, the PaaS market can be segmented into private and public. The overwhelming use of PaaS across various end-users such as healthcare, BFSI, telecommunication, energy, life sciences, consumer goods, IT, retail, manufacturing, energy, and others will bring good growth opportunities during the assessment period.

Platform as a Service (PaaS) Market: Competitive Insights

The PaaS market is fragmented with a large number of players in the ring for achieving a dominant position among the end-users. The players indulge in research and development activities and strategic collaborations for discovering novel insights.

Some well-established players in the PaaS market are;

  • Microsoft Corporation
  • Red Hat, Inc.
  • Oracle
  • AT&T
  • ActiveState
  • Software Inc.
  • VMware Inc.

Key Trends

Pay-Per-Use Features to Accelerate the Growth of the PaaS Market

PaaS has the feature of pay-per-use that enables a user to use the platform for developing, testing, running, and deploying the applications after paying a minimal amount. This feature is cost-effective and helps various organizations and firms to develop applications at very low costs. This aspect serves as a growth multiplier for the PaaS market.

High Efficiency and Ease of Use to Add Extra Stars of Growth

PaaS platforms offer the entire infrastructure required for app development over the internet to the users. These platforms are better than setting up the entire infrastructure for application development. Instead of going through an entire round of deployment tests and development, PaaS platforms have it all inbuilt, which prove to be major growth generators.

Recent Developments

The PaaS market is abuzz with developments that help in generating extensive growth. Some of the recent developments in the PaaS market are as follows:

  • Brim Financial, a fintech company from Canada recently announced a partnership with the Canadian Western Bank for rolling out Brims PaaS infrastructure
  • IBM unified its cloud services through IBM Cloud Code Engine. It is a managed service that enables the unification of PaaS and container-as-a-service (CaaS) environment.
  • Vectra, a threat detection and response vendor has raised nearly US$ 130 mn for securing PaaS technologies

Platform as a Service (PaaS) Market: Regional Aspects

North Americas PaaS market will observe dominant growth across the forecast period of 2020-2030. The growing influence of such platforms across various companies and organizations will serve as a vital growth-generating factor.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?