The Business Research Company’s Platform As A Service (PaaS) Global Market Report 2021: COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 13, 2021 /EINPresswire.com/ — According to the new market research report ‘Platform As A Service (PaaS) Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the platform as a service (PaaS) market is expected to grow from $47.29 billion in 2020 to $54.09 billion in 2021 at a compound annual growth rate (CAGR) of 14.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $88.11 billion in 2025 at a CAGR of 13%.
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The Platform as a Service (PaaS) market consists of sales from cloud-based platform services. PaaS is a cloud computing model that provides a platform to the customers to develop, run and manage applications over the internet. Revenue in the market is generated by the companies by way of subscriptions and licenses from web/software developers or other business households. There are four different types of PaaS which can be classified as computing platforms, web applications, business application and social applications. The global revenue of this industry is the cumulative revenue of all the companies engaged in providing any of the above services. Some of the PaaS providers are Salesforce, Heroku, Amazon Web Service (AWS), Elastic Beanstalk and Microsoft Azure etc.
Trends In The Global Platform As A Service (PaaS) Market
Companies in the industry are increasingly preferring hybrid cloud solutions to increase efficiency, innovation, and reduce costs. Hybrid Cloud refers to a cloud infrastructure environment that is a mixture of private cloud, on-premises computing and public cloud solutions. Platform as a service providing companies in the industry are leveraging this technology to enhance their agility, capability, increase development & deployment speed, and reduce IT costs. For instance, Amazon Web Service, a cloud computing platform, has developed a set of hybrid capabilities in the industry to capitalize on the global market. Some of the major hybrid cloud providers are Amazon, Microsoft, and VMWare, followed by other technology companies IBM, Apple, Google, Cisco, Hewlett-Packard, Dell, Oracle, and Rackspace.
Global Platform As A Service (PaaS) Market Segments:
The global platform as a service (PaaS) market is further segmented based on type, deployment, end user and geography.
By Type: Application Infrastructure And Middleware (AIM), Database Management Systems (DBMS), Business Intelligence Platform (BIP), Application Development On Cloud
By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
By End User: Financial Institutions and Services (BFSI), Technology, Retail, Distribution, Education Services, Travel And Transport, Healthcare And Life Sciences, Others
By Geography: The global platform as a service market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Platform As A Service (PaaS) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides platform as a service (PaaS) market overviews, analyzes and forecasts market size and growth for the global platform as a service (PaaS) market, platform as a service (PaaS) market share, PaaS market players, platform as a service (PaaS) market segments and geographies, platform as a service (PaaS) market’s leading competitors’ revenues, profiles and market shares. The platform as a service (PaaS) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Platform As A Service (PaaS) Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Platform As A Service (PaaS) Market Organizations Covered: Amazon Web Service, Salesforce Platform, IBM Cloud Foundry, Microsoft Azure, Google Cloud Function.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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