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Global Platform as a service (PaaS) Market 2024 - Size, Industry Analysis, Segmentations, Top Key Players, Trends, Future Development, Outlook 2033
Platform As A Service (PaaS) Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Platform As A Service (PaaS) industry. This report on Platform As A Service (PaaS) market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The platform as a service (paas) market size has grown strongly in recent years. It will grow from $60.26 billion in 2023 to $63.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to cloud computing adoption, developer productivity, cost efficiency, innovation and agility. The platform as a service (paas) market size is expected to see strong growth in the next few years. It will grow to $87.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
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Key Market Players:
Amazon Web Services Inc., Salesforce Inc., International Business Machines Corporation, Microsoft Corporation, Google LLC, Red Hat Inc.
Market Drivers:
According to the Platform As A Service (PaaS) Market Report 2024 by The Business Research Company, The increasing internet penetration is expected to drive the growth of the platform as a service (PaaS) market. With an increase in accessible technology, broadband internet is accessible for many consumers. The increased internet penetration increases consumption and usage of different applications over the internet, driving demand for PaaS providers. For example, in October 2022, according to DataReportal, a Singapore-based online reference library, 5.07 billion people around the world were using the internet equivalent to 63.5% of the world's total population. Internet users continue to grow too, with the data, indicating that the world's connected population grew by more than 170 million in the past 12 months. Additionally, in July 2022, according to Livemint, an India-based financial daily newspaper, there were 692 million active internet users in India, including 351 million from rural India and 341 from urban India. The report estimates that there will be 900 million internet users in India by 2025. Therefore, the increasing internet penetration is expected to drive the growth of the platform as a service (PaaS) market.
More information about the Global Platform As A Service (PaaS) Market Report -
https://www.thebusinessresearchcompany.com/report/platform-as-a-service-global-market-report
Market segments for Platform As A Service (PaaS) include:
1) By Type: Application Infrastructure and Middleware (AIM), Database Management Systems (DBMS), Business intelligence platform (BIP), Application development on Cloud
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By End User: Financial Institutions and Services (BFSI), Technology,, Retail, Distribution, Education services,, Travel and transport, Healthcare and life sciences, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
Check Out The Platform As A Service (PaaS) Market Report's Discount Options Here -
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