The platform as a service (paas) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Platform as a service (PaaS) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The platform as a service (paas) market size has grown strongly in recent years. It will grow from $60.26 billion in 2023 to $63.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to cloud computing adoption, developer productivity, cost efficiency, innovation and agility.
The platform as a service (paas) market size is expected to see strong growth in the next few years. It will grow to $87.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to digital transformation, hybrid and multi-cloud strategies, edge computing, ai and machine learning. Major trends in the forecast period include hybrid and multi-cloud paas, serverless computing, kubernetes and container orchestration, artificial intelligence (ai) and machine learning (ml) tools.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing internet penetration is expected to drive the growth of the platform as a service (PaaS) market. With an increase in accessible technology, broadband internet is accessible for many consumers. The increased internet penetration increases consumption and usage of different applications over the internet, driving demand for PaaS providers. For example, in October 2022, according to DataReportal, a Singapore-based online reference library, 5.07 billion people around the world were using the internet equivalent to 63.5% of the world’s total population. Internet users continue to grow too, with the data, indicating that the world’s connected population grew by more than 170 million in the past 12 months. Additionally, in July 2022, according to Livemint, an India-based financial daily newspaper, there were 692 million active internet users in India, including 351 million from rural India and 341 from urban India. The report estimates that there will be 900 million internet users in India by 2025. Therefore, the increasing internet penetration is expected to drive the growth of the platform as a service (PaaS) market.
Market Trends –
PaaS being an online platform faces risks and security threats that might act as a restraint to the platform as a service (PaaS) market. platform as a service (PaaS) market Companies in the industry consider security perspectives like privacy, access control, and service continuity, to protect both the service provider and the user. According to cyber security statistics by PurpleSec, ransomware attacks are estimated to cost $6 trillion annually by 2021. PaaS services are often subject to certain vulnerabilities such as lax default application configuration and holes in secure socket layers (SSL) protocols. For instance, some of the common risk issues experienced in Microsoft Azure are misplaced or lost Linux updates, lost third-party patches, and unavailability of Microsoft updates.
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
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Regional Insights –
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
Key Companies –
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
Table of Contents
1. Executive Summary
2. Platform as a service (PaaS) Market Report Structure
3. Platform as a service (PaaS) Market Trends And Strategies
4. Platform as a service (PaaS) Market – Macro Economic Scenario
5. Platform as a service (PaaS) Market Size And Growth
…..
27. Platform as a service (PaaS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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