Global Platform as a service (PaaS) Market Overview 2033 : Forecasted Market Size And Growth Rate | Amazon Web Services Inc., Salesforce Inc., International Business Machines Corporation, Microsoft Corporation

"The new report published by The Business Research Company, titled Platform as a service (PaaS) Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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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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.

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.

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

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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

Contents of the report:
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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