Market Highlights
The diverse range of capabilities, multi-functionality platform with low IT infrastructure cost benefits offered by cloud computing services has spurred the Platform as a Service market worldwide. The Platform as a Service model provides sophisticated computing platform and tools that enable many enterprises to develop and manage applications in order to improve IT frameworks and technological power.
The Market of Platform as a service (PaaS) is growing due to unification of cloud & mobile platforms, increasing investment in disruptive technologies, high digital data explosion & integration and digital revolution among others. The continuously rising demand of cloud based services is increasing the adoption of platform as a service among various enterprise and business.
Global Platform as a Service (PaaS) Market is expect to grow at USD 213.68 billion by the end of 2030 period with CAGR of approx.- 18.63%.
Taste the market data and market information presented through more than 40 market data tables and figures spread over 108 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "The Global Platform as a Service (PaaS) Market Research Report -Forecast to 2030"
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Platform as a Service Market:
The Platform as a Service is the one of three main categories of cloud computing services that provides major business benefits such as on-demand payments, low cost and quick deployment of software, among others. The platform as a service market is increasing due to the growing adoption of PaaS model in cloud based services to help enterprises and business.
Many companies such as Apprenda Inc. (U.S.), IBM Corp. (U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.) are investing in platform as a service solution that is supporting the market of platform as service (PaaS).
The Major Key players of platform as a service market are: Apprenda Inc. (U.S.), International Business Machines Corporation (U.S.), Google, Inc.(U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Dell Inc.(U.S.), Engine Yard, Inc. (U.S.), Cloud Bees, Inc.(U.S.), Pivotal Software, Inc.(U.S.), Red Hat, Inc.(U.S.) among others.
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Market Research Analysis:
Market Research Future Analysis shows that Platform as a Service Market is growing rapidly and during the forecast period, it is expected to grow at CAGR of ~26%. Upcoming trends in the Cloud Based Services and Internet of Things Technology is expected to lead the market at new heights.
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Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Platform as a service (PaaS) Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/platform-as-a-service-paas-market/download-sampleMarket Dynamics The global platform as a service market has experienced double-digit growth in the past five years.
The market future is anticipated to remain healthy and lucrative in the coming years.
Rising need to reduce the time and cost of application development and focus on streamlining application management primarily drive the global platform as a service (PaaS) market growth.
Businesses are digitally transforming and increasingly taking advantage of cloud computing.
On the other side, cloud washing and security concerns associated with public cloud adoption is expected to hinder the growth of the PaaS market.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The report "Platform as a Service Market by Type (APaaS, IPaaS, DBPaaS), Deployment (Public and Private), Organization Size (Large Enterprises and SMEs), Vertical (Consumer Goods and Retail, BFSI, Manufacturing), and Region - Global Forecast to 2026", size is expected to grow from USD 56.2 billion in 2020 to USD 164.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period.
Key factors that are expected to drive the growth of the market are the increasing need to reduce time to market and cost of application development and focus on streamlining application management.
However, cloud washing hindering the growth of PaaS, and security concerns related to the adoption of public cloud are expected to limit the market growth.
These opportunities are expected to present new market growth prospects for PaaS vendors.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=814Application PaaS segment to hold a larger market size during the forecast periodaPaaS is a service that provides deployment and development environments for application services.
The aPaaS allows businesses and IT teams to effectively collaborate and deliver new web and mobile applications faster so that organizations can innovate business practices, differentiate within the market, and streamline operational workflows.
They require a flexible payment model for better cost optimization of their business processes.Consumer goods and retail industry vertical to grow at the highest CAGR during the forecast periodThe consumer goods and retail vertical is one of the fastest-growing verticals with respect to the adoption of advanced technologies, such as cloud computing, big data analytics, DevOps, digital stores, and social networks.
