Platform as a service (PaaS) Market Report 2024-2033 Size, Share, Growth, Trends, Analysis And Forecast

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Platform as a service (PaaS) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $87.48 billion In 2028 At A CAGR Of 8.4% :

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%. The growth in the forecast period can be attributed to digital transformation, hybrid and multi-cloud strategies, edge computing, ai and machine learning. Major trends in the forecast period include hybrid and multi-cloud paas, serverless computing, kubernetes and container orchestration, artificial intelligence (ai) and machine learning (ml) tools.

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Platform as a service (PaaS) Market Major Segments
The platform as a service (paas) market covered in this report is segmented -
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

Key Driver - Rising Internet Penetration Fuels Growth In The Platform As A Service (PAAS) Market

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.

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Prominent Trend - Security Concerns And Threats Hinder Platform As A Service (PAAS) Market

PaaS being an online platform faces risks and security threats that might act as a restraint to the platform as a service (PaaS) market. platform as a service (PaaS) market Companies in the industry consider security perspectives like privacy, access control, and service continuity, to protect both the service provider and the user. According to cyber security statistics by PurpleSec, ransomware attacks are estimated to cost $6 trillion annually by 2021. PaaS services are often subject to certain vulnerabilities such as lax default application configuration and holes in secure socket layers (SSL) protocols. For instance, some of the common risk issues experienced in Microsoft Azure are misplaced or lost Linux updates, lost third-party patches, and unavailability of Microsoft updates.

Platform as a service (PaaS) Market Players
Major companies operating in the platform as a service (paas) market include Amazon Web Services Inc., Salesforce Inc., International Business Machines Corporation, Microsoft Corporation, Google LLC, Red Hat Inc., Oracle Corporation, SAP SE, Engine Yard, ActiveState Software Inc., Software AG, VMware Inc., EMC Corporation, AT&T Inc., Cloud Foundry Inc., Heroku, Mendix Technology BV, Pivotal Cloud Foundry, DigitalOcean Holdings Inc., Jelastic, CloudBees Inc., Apprenda Inc., CenturyLink Cloud, Joyent Inc., Rackspace Technology, Cloudify, Docker Inc., OpenStack, OpenNebula Systems, OpenShift Origin

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Largest And Fastest Growing Region In The Market
North America was the largest region in the Platform as a Service (PaaS) market in 2023. Western Europe was the second largest region in the Platform as a Service (PaaS) market. The regions covered in the platform as a service (paas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Platform as a service (PaaS) Market Report Structure
3. Platform as a service (PaaS) Market Trends And Strategies
4. Platform as a service (PaaS) Market - Macro Economic Scenario
5. Platform as a service (PaaS) Market Size And Growth
…..
27. Platform as a service (PaaS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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