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Platform as a Service (PaaS) Market Segmentation by Type (Application PaaS, Integration PaaS, Database PaaS, and Others); and by Vertical (Healthcare, Manufacturing, BFSI, IT & Telecommunication, Consumer Goods & Retail, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Platform as a Service (PaaS) Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • January, 2021: Microsoft announced the introduction of Wisely, which is the newest addition in the company’s blockchain-enabled CPaaS offerings for enterprises, OTT players, mobile carriers, marketers, and industry regulators to advance their quality of service.

  • September, 2020: Oracle announced the expansion of its security portfolio with new cloud services designed to automatically help data from the risks posed by cyber threats and protect cloud workloads. The three new cloud services, including Oracle cloud guard, Oracle data safe, and Oracle maximum security zones, offer centralized security configuration and automated enforcement of security practices.

  • January, 2019: AWS announced the acquisition of an Israeli-based company, CloudEndure which offers disaster recovery (DR) services. This acquisition would help AWS bring enhanced and innovative migration, backup, and DR solutions to customers.

Global Platform as a Service (PaaS) Market Highlights 2022-2030

The global platform as a service (PaaS) market is estimated to grow with a significant CAGR during the forecast period, i.e., 2022-2030. The demand for PaaS is expected to increase primarily as a result of the growing adoption of cloud and rising need to decrease time to market (TTM) cost. It is calculated that more than 93% of the total enterprises in the world already use cloud services. About 30% of all IT budgets are allocated for cloud computing. Along with this, PaaS simplifies utility improvement management, deployment, and scaling, thereby facilitating better developer productiveness and innovation, which in turn is projected to drive market growth in the coming years. Moreover, PaaS offers a self-serviceable, bendy and agile application version, which allows easy import of compiled code in J2EE and .NET framework and immediate deployment of constructed programs. Furthermore, PaaS is able to provide less cost of application development and lower TTM that help in adjusting the approach to software product development, avoid development wastes, and ensure good cooperation. This factor is evaluated to offer lucrative opportunities to the market in the near future.

Platform as a Service (PaaS) Market Graph

The market is segmented on the basis of vertical into healthcare, manufacturing, BFSI, IT & telecommunication, consumer goods & retail, and others, out of which, the manufacturing segment is expected to capture a significant market share in the forecast period owing to the increase in demand for faster product delivery and heightened production in the manufacturing industry. Additionally, based on type, the application PaaS (APaaS) segment is anticipated to acquire the largest market share during the forecast period, owing to the increasing adoption of APaaS applications among various government organizations across the world. Moreover, the benefits of APaaS such as reduced coding time, added development capabilities without involving more staff, accessibility to support tools, support for geographically circulated teams, and efficient administration of application development lifecycle are also assessed to boost the growth of this market segment in the future.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Platform as a Service (PaaS) Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The North American market is estimated to grab the largest market share over the forecast period, which can be accounted to the increasing budget allocation for cloud services among enterprises among different industries including, telecommunication, BFSI, IT, and government and public sectors. In 2019, more than 85% of the cloud experts in the United States stated that cloud is anticipated to revolutionize the banking sector in the country by the end of 2021 by lowering the overall bank costs. In addition, the strong presence of major cloud specialist corporations in the region is also predicted to boost market growth in the region. Furthermore, the market in Asia Pacific is estimated to grow with a significant CAGR during the forecast period ascribing to the increasing investments by organizations in the ICT sector and colossal amount of data collection in the region.

Platform as a Service (PaaS) Market Share Graph

The global platform as a service (PaaS) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

Market Segmentation

Our in-depth analysis of the global platform as a service (PaaS) market includes the following segments:

By Type

  • Application PaaS
  • Integration PaaS
  • Database PaaS
  • Others

By Vertical

  • Healthcare
  • Manufacturing
  • BFSI
  • IT & Telecommunication
  • Consumer Goods & Retail
  • Others

Growth Drivers

  • Increasing Demand to Reduce Cost of Application Development
  • Reduced Time-to-Market (TTM) Cost Provided by PaaS

Challenges

  • Security Threats Associated with Adoption of Public Cloud

Top Featured Companies Dominating the Market

  • Boomi, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Informatica LLC
  • Mulesoft LLC
  • Snaplogic Inc.
  • Celigo, Inc.
  • IBM Corporation
  • Oracle Corporation
  • Jitterbit, Inc.
  • TIBCO Software Inc.
  • Flowgear
  • SAP Group

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