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 report covers forecast and analysis for the Public cloud platform-as-a-service market on a worldwide and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD million). The study includes drivers and restraints for the Public cloud platform-as-a-service market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Public cloud platform-as-a-service market on a worldwide level.
The global Platform as a service (PaaS) industry, hit a significant high in the year 2018 and is expected to grow at a compound annual growth rate of 26% for the next couple of years. The industry is represented by a set of advanced technologies that play a crucial role in the growth of the sector. In the following model, an organization sells the computing resources and a set of state-of-the-art advanced modules that reduces the software development cycle substantially.
When it comes to Platform as a Service (PaaS), there is a range of factors that affect the growth prospects of the industry. The growth of the software industry, coupled with the advanced software development cycles, has been fueling the growth prospects of the industry. On the other hand, the rapid advancements in the technology industry with the introduction of advanced methodologies like the Internet of Things (IoT) and artificial intelligence have propelled the growth prospects of the industry.
The various government initiatives and the digital boom all across the globe have helped the Platform as a Service (PaaS) grow all around the world. The extensive promotion and the rise in the awareness of the developers have also worked in favor of the industry. The analysts remain positive about the growth prospects and hence, have attracted significant investors all across the globe. The growth-oriented tutorials by the companies and other third parties have also fueled the growth prospects of the industry.
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The Platform as a Service (PaaS) industry can be segmented based on a range of factors, with each element playing a crucial role in the growth of the sector. The segmentation allows one to have a view on the industry from varying angles and hence, in the long run, helps one to have unbiased opinions on the same. Some of the factors based on which the industry can be segmented into are type and application. Based on type, the industry can be segmented into the public cloud, private cloud, and hybrid cloud. On the other hand, based on application, the industry can be segmented into the banking & finance sector, telecommunication & IT, consumer goods & retail, and logistics & transportation.
When it comes to Platform as a Service (PaaS) industry, North America holds the lion share, followed by Europe. The presence of a large number of internet-based industries has helped the industry grow by leap and bound. The Asia Pacific also shows some positive signs of growth with India and China leading the race. The analysts remain positive about the growth prospects, and hence, the industry is expected to proliferate further in the next couple of years.
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In a recent piece of news, Jeff Bezo’s Amazon Web Services won a contract from Pentagon, USA. The company faced a steep competition from Microsoft who would be also a part of the contract. The deal is valued at $10 billion and will help Pentagon enjoy Platform as a Service (PaaS) along with Infrastructure as a Service (IaaS).
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