Public Cloud Platform as a Service (PaaS) Market by Service (Cloud Application Platforms, Cloud Integration Services, Cloud Data Services, Cloud Application Development & Life-Cycle Services and Other Cloud Platform Services): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2021
Wiseguyreports.Com Adds “Public Cloud Platform as a Service (PaaS) – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2021” To Its Research Database.
The global Public Cloud Platform as a Service (PaaS) Market is triggering by a lot of advantages provided by such services. For example, an online collaboration of different documents from various locations, secure remote access, webmail, online office applications and storage of information, and more. It has been observed that most of the companies are now choosing public cloud platforms as they move toward the digital world. This move is getting more popular among companies and corporates as it dramatically reduces the overall maintenance and backup systems cost.
In the year 2018, the global market value was USD 183 billion. However, the growing demand for PaaS in the worldwide market suggests that the market will grow at an excellent Compound Annual Growth Rate. During the forecast period, from 2019 to 2021, the market is expected to grow at around 15 percent of CAGR. Businesses or organizations who require massive capital investment for their infrastructure are choosing these services to manage their applications on it and can also be used by more people.
The public cloud services help the users to use the platforms, interface, or the service without revealing the storage location of the information. Due to all such things, it is anticipated that the global market for such services will enjoy massive growth in the coming years. The experts have predicted that emergence of video communication will be the latest trend in PaaS. Video communication lets the developers add different attributes such as real-time video communication. The increasing number of businesses will also drive the growth of the Public Cloud Platform as a Service (PaaS) Market market.
Global Market Segmentation Analysis
The world Public Cloud Platform as a Service (PaaS) Market is segmented into different submarkets. These are cloud application platforms, cloud data services, cloud application development & life-cycle services, cloud integration services and other services. Based on the statistical data given in this study report, it is forecasted that the cloud application platform and data services segments will dominate the submarket segment. There is a lot of cloud service providers who are now offering public cloud platforms based on the subscription model. Most of the small as well as large organizations are now using such services due to its amazing advantages, such as minimal investments, low complexity, high level of scalability, and more.
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Geographical Market Segmentation Analysis
The Public Cloud Platform as a Service (PaaS) Market, geographically, segmented into different significant regions. Some of them are Asia Pacific, Europe, North America, South America, and Middle East and Africa. Among them, the PaaS market is now enjoying better growth in the Asia Pacific region. The primary reason behind this is growing contribution to revenue by developing Asia countries, such as China, India, and Japan. Another major factor behind the growth of this regional market is various government initiatives to promote the adoption of such solution. On the other side, an increasing number of mobile applications is also propelling market growth.
Global Public Cloud Platform-as-a-Service Market: Region Segment Analysis
Middle East and Africa
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Latest Market Updates
Akami, a leading intelligent edge platform for offering and securing digital assets, in October 2019, informed that it rolled out different updates for its SPS-Security and Personalization Services and Secure Business solutions. The updates are a cloud-based deployment model, enhanced threat coverage, and more. All these will help ISPs to boost revenues and reduce the cost of the services.
The Public Cloud Platform as a Service (PaaS) report covers a detailed study of the competitive dynamics of the Public Cloud Platform as a Service (PaaS) market and the current trends that are projected to disrupt the market. It identifies noteworthy players of the market, including both the primary and emerging players. The report includes the organizations in the market share review to offer a more detailed overview of the key market players. In addition to this, the report also comprises noteworthy strategic developments of the market such as agreements, acquisitions & mergers, new product launches, partnerships, research & development collaborations and joint ventures, and growth of most significant market players on both, a global and regional basis.
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