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Platform As A Service Market: Growth, Trends, Covid-19 Impact, And Forecasts 2022 - 2028 | Introspective Market Research
Global Platform as a Service Market Size Was Valued At USD 93.97 Billion In 2021 And Is Projected To Reach USD 325.10 Billion By 2028, Growing At A CAGR Of 19.4% From 2022 To 2028.
Cloud computing services include platform as a service, also known as an application platform as a service. In PaaS, customers are provided with a computing platform and various application development solutions or tools. PaaS facilitates the development of applications or services without the complexity and expense of managing and purchasing the underlying software and hardware. Consequently, PaaS offers low initial costs, resource sharing, incremental costs as service usage increases, management services, automated deployment, reuse, and lifecycle management.
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The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
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Market Dynamics:
Driver:
Increasing cyber-attacks during the COVID-19 pandemic, as well as the rising adoption of cloud and virtualization technologies in contemporary businesses, are among the key factors driving the market's expansion over the forecast period. The rapid global adoption of digitization is altering the business environment. In addition, advancements in cloud computing and faster networks, as well as a greater understanding of Platform-as-a-benefits, Services are anticipated to offer market growth.
Opportunities:
The market players engaged in the development of new technologies in the PaaS service that creates the opportunity for the market. For Instance, Microsoft, a technology company, launched a new blockchain-enabled PaaS service for businesses, mobile carriers, OTT providers, marketers, and industry regulators to improve the quality of service in January 2021. Also, Google Cloud, a suite of cloud computing services, debuted Vertex AI in May 2021. A managed machine learning platform that enables businesses to manage models more efficiently in order to keep up with changing business requirements. One more opportunity for PaaS service providers could be that banking customers can now access real-time banking and financial information services on any device, thanks to digital technologies.
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help
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Segmentation Analysis Of Platform as A Service Market
By Type
• Application PaaS (aPaaS)
• Integration PaaS (iPaaS)
• Database PaaS (dbPaaS)
• Others
By Deployment
• Public
• Private
By Vertical
• BFSI
• Consumer Goods & Retail
• Telecommunication
• IT & ITeS
• Healthcare & Life Sciences
• Other Verticals
Regional Analysis In Platform as a Service Market
North America is anticipated to lead the growth of the Platform as a service (PaaS) market for the forecasted period due to the early adoption of the technology and current domination in the market throughout the world. Additionally, the growing demands for IT solutions like as agility, pay-per-use pricing, scalability, and cost and time reduction could be the turning factor for the region.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Top Key Players Covered In Platform as a Service Market
• Amazon Web Services Inc.
• AT&T Inc.
• Cisco Systems Inc.
• Computer Science Corporation
• Cornerstone OnDemand Inc.
• EMC Corporation
• Fujitsu Ltd.
• Gartner Inc.
• Google LLC
• HCL Technologies Ltd.
• IBM Corporation
• Informatica LLC
• Intel Corporation
• KDDI Corporation
• LM Ericsson Telefon AB
• Microsoft Corporation
• NTT Communications Corporation
• OpenText Corporation.
Key Industry Development In The Platform as a Service Market
In April 2021, Red hat has introduced new hybrid cloud services to improve the delivery of cloud-native apps. Customer option for open hybrid cloud computing is extended with fully hosted and managed cloud services, reducing complexity and growing IT expenditures.
In January 2021, Microsoft launched a novel Wisely blockchain-enabled cPaaS providing for enterprises, mobile carriers, OTT players, marketers, and industry regulators to enhance their quality of service.
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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