Platform as a Service Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

A segment of cloud computing, platform as a service (PaaS) provides a virtual platform for users to develop and run applications and software over the internet, eradicating the need of physical infrastructure and extra amount to be spent on purchase of underlying software and hardware. PaaS services can be accessed remotely using web applications such as web browsers. Collectively with other components software as a service (SaaS) and infrastructure as a service (IaaS), a cloud computing service model is formed.

PaaS services come with pre-configured features, thereby privileging users to subscribe for the service as per their requirement and finally paying as per their usage. Consequently, packages includes supplying the infrastructure options for advanced development to simple point-and-click frameworks requiring no client side hosting. PaaS can be delivered as public cloud service from a provider or as a software installed on private data centers or public infrastructure as a service managed by internal IT departments. The major advantage of PaaS is that it allows higher-level programming with dramatically reduced complexity. With in-built infrastructure and easy maintenance and enhancement of the applications, the overall development is triggered. In addition, PaaS provides multi-function options wherein multiple users can work on the same project at the same time located remotely. In addition, PaaS provides low capex with promising substantial growth in service usage, automated deployment, life cycle management, and management services.

The only restriction with this service can be compatibility with a particular platform or software limiting the number of users of other platforms, however, now lock free PaaS solutions are offered to eliminate the compatibility issues. Although, IaaS and SaaS markets are well-established, but a significant growth is expected in PaaS market during the forecast period, owing to a number of key benefits offered such as agility , scalability, pay-as-you-go based pricing thus reducing the time and cost.

As companies worldwide are aiming at standardization of their operations through cloud computing, PaaS market is expected to make a subsequent growth, by accomplishing their needs. PaaS provides a platform to enable the developers to create software using libraries tools provided by the provider. In addition, the introduction of enterprise PaaS that overcomes all the complexity of basic PaaS, is expected to bolster the global PaaS market by capturing significant cloud market share. Large investments flowing from the major IT players in the market coupled with rising demand of cloud-based solutions are factors expected to propel the PaaS market globally.

The global PaaS market has been segmented on the basis of deployment model into public cloud, private cloud, and hybrid cloud. In addition, the global PaaS market has segmented based on solution types into application development, business intelligence platform (BIP), application infrastructure and middleware (AIM), and database management systems (DBMS). Furthermore, the global PaaS market is classified on the basis of end-user verticals into BFSI, retail, distribution & CPG, media & entertainment, online business, healthcare & life sciences, research & education services, IT & telecommunication, government, manufacturing, logistics & transportation, and energy & utility.

Geographically, the PaaS market has been segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). North America with more potential users led the market and is expected to continue its dominance during the forecast period. In addition, with increasing number of users, APAC followed by MEA are expected to be key regions for the global PaaS market over the forecast period. Some of the key players in the global PaaS market include Salesforce.com Inc., Google Inc., Microsoft Corp., Amazon.com Inc., IBM Cooperation, ActiveState Software Inc., Red Hat Inc., Oracle Corporation, SAP SE, Software AG, EMC Corporation, VMware Inc., and AT&T Inc., among others.

Platform as a Service (PaaS) Report Scope