Platform as a Service (PaaS) is a cloud-based offering that provides a virtual setting for developers to build and deploy software applications. A primary factor propelling market expansion is the rising demand from businesses to cut costs and accelerate time-to-market (TTM) for application development. Moreover, the worldwide uptake of cloud services and the increasing number of businesses are also driving market expansion. For example, in October 2024, Egen Solutions, LLC, a provider of technology services, declared its purchase of Qarik Group. Combined, the united company will feature a workforce of more than 800 certified specialists in cloud, data, AI, and platform technologies, enabling organizations to create innovative, optimized solutions that address their most intricate challenges while promoting growth, operational efficiency, and human performance.
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Platform as a Service (PaaS) Market Growth Drivers:
Escalating the need to reduce the time for promotion of the product along with the requirement for cost minimization of app creation will steer market trends. Apart from this, highlighting continuously streaming app management will further steer the business growth over 2024 – 2032. In addition to this, the humungous requirement for integrating services & shifting the workload to the cloud will steer the market demand. Apparently, PaaS supports business agility and allows many app development units in sharing available resources. It also helps in eliminating the necessity of allocating not-so-efficient assets of the same kind in different silos. This, in turn, will further expedite the market value in the near future.
Moreover, growing digitization & rise in the online mode of payments will enlarge the PaaS market size. Additionally, new product launches and the evolution of cloud-native ecosystems will create lucrative growth avenues for the platform as a Service (PaaS) industry over the projected period.
Major Players in Platform as a Service (PaaS) Markets are:
AWS (US), Microsoft (US), Capgemini, Alibaba Cloud (China), IBM (US), Salesforce (US), Google (US), Oracle (US), Czech, SAP (Germany), Mendix (US), Zoho Corporation (India), Engine Yard (US), Apprenda (US), VMware (US), ServiceNow (US), Plesk (Switzerland), Render (US), CircleCI (US), Tray.io (US), Cloud 66 (UK), AppHarbor (US), Jelastic (US), Platform.sh (France), Scalingo (France), PythonAnywhere (US), and Blazedpath (US).
Industry News:
In December 2024, Capgemini announced the completion of its acquisition of Syniti, a leading provider of enterprise data management services and software, following the fulfillment of all regulatory requirements. Syniti's global team of over 1,200 data specialists will strengthen Capgemini's data-driven digital transformation services, particularly in large-scale SAP migrations, including transitions to SAP S/4HANA.
In December 2024, Czech Radiokomunikace a.s.,an internet service provider, selected Netmore Group AB’s, IoT operator, Operator Platform-as-a-Service (PaaS) to update and streamline the process of delivering commercial Internet of Things (IoT) services. Netmore Group AB’s PaaS allows Czech Radiokomunikace a.s. to provide LoRaWAN network connectivity while also improving its network monitoring and technical support for IoT deployments across various industries.
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Global Platform as a Service (PaaS) Market Segmentation:
Platform as a Service Market Based on the type:
Application PaaS (aPaaS)
Integration PaaS (iPaaS)
Database PaaS (dbPaaS)
Others
Based on the deployment:
Public
Private
Based on the organization size:
Large Enterprises
SMEs
Platform as a Service Market Based on the vertical
BFSI
Consumer goods and retail
Telecommunication
IT and ITeS
Manufacturing
Healthcare and life sciences
Energy and utility
Others
The following areas and countries are covered in the worldwide Platform as a Service (PaaS) Market file:
North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)
North American Market To Witness Geometric Surge Over 2024 – 2032. The regional market growth over an anticipated period can be credited to the use of cloud technology by many of the manufacturing & logistics companies in the U.S. and Canada for raising the output and reducing product delivery time. Apart from this, the government has increased the budget allocation for cloud solutions and this has further driven the business expansion in the region over the assessment timeline. Additionally, the use of machine-to-machine connectivity and connected things has brought a paradigm shift in the manufacturing processes in the countries like the U.S. This has favorably impacted the growth of the platform as a Service (PaaS) market in North America.
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Key Features of the Platform as a Service (PaaS) Market Report: –
Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
Examine the market opportunities for stakeholders by identifying higher growth sections.
To study and analyze the global Platform as a Service (PaaS) Market industry status and forecast including key regions.
An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter’s Five Forces analysis to provide a deeper understanding of the market.
It helps you make strategic business decisions and investment plans.
Finally, Platform as a Service (PaaS) Market is a valuable source of guidance for individuals and companies.
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