The global PaaS market was valued at USD 55,998.97 million
Westford, USA, May 23, 2022 (GLOBE NEWSWIRE) — The COVID pandemic has been extremely beneficial to the platform as a service (PaaS) industrydue to a significant shift towards the use of online and cloud platforms, as well as an increase in the demand for online shopping models during the forecast period, prompting many small and medium businesses to turn to PaaS solutions to help them grow their cloud presence.
According to SQ’s analysis, we found that PaaS is adopted by organizations because it helps the organization provide insights on partnership strategies, go-to-market approaches, investments, alliance strategies and acquisition and operational best practices. Additionally, PaaS helps to measure, correlate, and analyze business activities to ensure that business operations are in line with customer demands. Many companies are investing in big data, IoT, artificial intelligence and 5G technologies to gain important business insights for decision making. Big data technologies are gaining popularity due to the many benefits they provide, such as data integration, data segmentation, and business intelligence, to name a few. The growing demand for analytics and big data technologies in cloud computing services is creating many new growth opportunities for the platform as a service (PaaS) market.
The PaaS application segment dominated the global platform-as-a-service market share in 2020 and is expected to maintain its dominance during the forecast year. Increasing capital investment in mobile, web and enterprise application development promises significant growth opportunities for the application segment of the platform as a service (PaaS) market. Technological advancements in PaaS services such as AI capabilities are expected to expand the platform-as-a-service industry for application segment growth. Furthermore, the rising popularity of cloud-based services is expected to drive the growth of the platform as a service market for application segment over the forecast period.
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Platform as a Service (PaaS) reduces costs and improves operational efficiency for enterprises and developers by providing application development templates and tools as a utility, enabling seamless development and delivery. simple and innovative applications. Increased enterprise engagement at the device level, fueled by growing mobile adoption, is expected to fuel the growth of PaaS in the region. Many large cloud providers have entered the PaaS space in recent years, indicating the region’s growing momentum.
Read the market research report, “The global PaaS market is segmented by type (software, service), by services (consulting, implementation, training), by deployment (cloud, on-premises), by organization: large enterprises, small and medium-sized enterprises (SMEs) and by region – Forecast and analysis 2020-2027 » by SkyQuest
The COVID-19 pandemic is expected to have a significant impact on businesses, stifling innovation, suppressing profitability and diminishing cash flow and financial reserves. The IT and software development sectors were also affected by this unexpected outbreak. While the COVID-19 outcry has driven personal, professional and community life, it has also driven business opportunity. As a result, PaaS solutions are designed to help teams learn to collaborate, and businesses will find they can operate efficiently without having staff in the office. This scenario is estimated to drive the growth of the Platform as a Service (PaaS) market. A growing number of companies across multiple verticals have embraced the work-from-home model to maintain employee well-being and operational efficiency, which has driven demand for platform-based solutions as a service. (PaaS).
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Modern business models are becoming increasingly complex due to the presence of variables to process, data to manage, and tasks to perform. The platform as a service eases the burden on organizations by focusing on the development and business activity of the organization rather than devoting critical and expensive IT resources to the organization. PaaS can help development teams expand their capabilities while eliminating the need to hire additional skilled personnel for certain operations. A platform can help organizations reduce costs in the most efficient way possible. For example, Amazon’s AWS Lambda provides serverless computing services, allowing organizations to run their applications without having to worry about servers and other backend requirements.
To strengthen their position in the market, major vendors are focusing on introducing new cloud solutions, services and workloads, as well as upgrading the capabilities of their existing offerings. Additionally, vendors are engaging in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For example, in October 2020, SAP SE announced the acquisition of Emarsys, an omnichannel customer engagement platform provider. Following the acquisition, SAP SE was able to integrate the Emarsys customer engagement platform into SAP S/4HANA and experience management technology. SAP Customer Experience solutions could use Emarsys technology to connect business signals to the back office and activate the customer’s preferred channel with a relevant and consistently personalized message, allowing customers to choose their engagements.
SkyQuest has segmented the global PaaS market based on type, service, deployment, organization and region:
- PaaS Market Type Outlook (Revenue, USD Million, 2020 – 2027)
- PaaS Services Market Outlook (Revenue, USD Million, 2020 – 2027)
- PaaS Market Deployment Outlook (Revenue, USD Million, 2020 – 2027)
- PaaS Market Organization Outlook (Revenue, USD Million, 2020 – 2027)
- Large companies
- Small and medium-sized enterprises (SMEs)
- PaaS Market Regional Outlook (Revenue, USD Million, 2020-2027)
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central and South America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of MEA
List of PaaS Market Key Players
- AWS (US)
- Microsoft (US)
- Alibaba Cloud (China)
- IBM (US)
- Salesforce (US)
- Google (US)
- Oracle (US)
- SAP (Germany)
- Mendix (USA)
- Zoho Corporation (India)
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