Global Platform as a service (PaaS) Market Growth 2024, Forecast To 2033
18 Jan, 2024
The Platform as a Service (PaaS) market has witnessed strong growth, increasing from $60.26 billion in 2023 to $63.37 billion in 2024, showcasing a 5.2% CAGR. Historical expansion is attributed to the adoption of cloud computing, developer productivity, cost efficiency, and innovation and agility. Expecting continued growth, the market is projected to reach $87.48 billion in 2028, reflecting an 8.4% CAGR. Anticipated growth is linked to digital transformation, hybrid and multi-cloud strategies, edge computing, and AI and machine learning. Major trends include hybrid and multi-cloud PaaS, serverless computing, Kubernetes and container orchestration, and AI and ML tools.
Global Platform as a service (PaaS) Market Key Driver
Increasing internet penetration fuels the Platform as a Service (PaaS) market. Broadband accessibility drives internet usage, with 5.07 billion global users in October 2022. Internet users grew by over 170 million in the past year. India boasts 692 million active users, estimated to reach 900 million by 2025. This rising internet penetration is a catalyst for PaaS market growth.
Get A Free Sample Of The Global Platform as a service (PaaS) Market ReportGlobal Platform as a service (PaaS) Market 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
By Geography: 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, and Africa. Among these regions
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
Major Platform as a service (PaaS) Industry Players
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
Get The Full Global Platform as a service (PaaS) Market Report
Platform as a service (PaaS) Market Overview
Platform-as-a-Service (PaaS) refers to a cloud computing model that provides a platform for cloud providers to build apps for developers.
Platform as a service (PaaS) Global Market Report 2023 provides data on the global platform as a service (paas) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The platform as a service (paas) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.