Press release
Platform as a service (PaaS) Market: Major Trends Reshaping the Future of the Industry
Platform as a service (PaaS)
What Will the Platform as a service (PaaS) Industry Market Size Be by 2025?
In recent years, there has been significant growth in the platform as a service (PaaS) market size, expanding from $115.11 billion in 2024 to an estimated $125.69 billion in 2025, with a calculated compound annual growth rate (CAGR) of 9.2%. Factors such as the adoption of cloud computing, enhanced developer productivity, cost-effectiveness, innovation and agility are the primary drivers of growth during the historical period.
What's the Long-Term Growth Forecast for the Platform as a service (PaaS) Market Size Through 2029?
The market size for Platform as a Service (PaaS) is projected to witness a significant surge in the coming years, reaching approximately $186.08 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 10.3%. This growth in the forecast period is likely due to several factors such as digital transformation, the adoption of hybrid and multi-cloud strategies, the rise of edge computing, as well as the advancement of AI and machine learning. Notable trends during this forecast period will be the expansion of hybrid and multi-cloud PaaS, the emergence of serverless computing, the dominance of Kubernetes and container orchestration, and the use of AI and machine learning tools.
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What Are the Key Growth Drivers Fueling the Platform as a service (PaaS) Market Expansion?
The growth of the platform as a service (PaaS) market is projected to be propelled by a rise in internet access worldwide. Thanks to technological advancements, an increasing number of people have access to broadband internet, leading to an elevated use of various online applications and fostering the demand for PaaS providers. For instance, DataReportal, a Singapore-based digital reference repository, stated in October 2022 that 5.07 billion individuals globally were utilizing the internet, translating to 63.5% of the world's total populace. The data also showed an impressive growth of over 170 million internet users around the world in the previous year. Moreover, as quoted by Livemint, a financial news publication based in India, in July 2022, India had 692 million active internet users, including 351 million from rural regions and 341 million from urban areas. The same report forecasted that by 2025, there would be 900 million Indian internet users. Thus, the expanded internet access worldwide is anticipated to stimulate the platform as a service (PaaS) market growth.
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What Are the Key Trends Driving Platform as a service (PaaS) Market Growth?
As an online platform, PaaS encounters potential risk and security threats that could pose limitations to the PaaS market. Companies within this field tend to focus on aspects such as privacy, access control, and service continuity, in order to safeguard both the provider and user. PurpleSec's cybersecurity statistics estimate the cost of ransomware attacks to be around $6 trillion every year. PaaS services may be susceptible to certain weaknesses like lax default application configuration and flaws in secure socket layers (SSL) protocols. For example, Microsoft Azure often faces typical risk issues such as lost or misplaced Linux updates, missing third-party patches, and the absence of Microsoft updates.
How Is the Platform as a service (PaaS) Market Segmented?
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
Subsegments:
1) By Application Infrastructure And Middleware (AIM): Integration Platform As A Service (iPaaS), Middleware As A Service (MWaaS), Cloud Application Platform (CAP), Enterprise Application Platform (EAP)
2) By Database Management Systems (DBMS): Relational Database As A Service (RDaaS), NoSQL Database As A Service, Data Warehouse As A Service (DWaaS), In-memory Database As A Service
3) By Business Intelligence Platform (BIP): Data Analytics As A Service (DAaaS), Reporting As A Service (RaaS), Dashboard As A Service (DaaS), Predictive Analytics As A Service (PAaaS)
4) By Application Development On Cloud: Cloud Development Environment (CDE), Software Development Kits (SDKs) on Cloud, Serverless Application Platforms (FaaS), Low-code/No-code Development Platforms
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Which Companies Are Leading the Charge in Platform as a service (PaaS) Market Innovation?
Major companies operating in the platform as a service (PaaS) market include 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
Which Regions Are Leading the Global Platform as a service (PaaS) Market in Revenue?
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
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