The Global Platform as a Service Market is expected to grow over the CAGR of ~26% during the period 2016 to 2022
The diverse range of capabilities, multi-functionality platform with low IT infrastructure cost benefits offered by cloud computing services has spurred the Platform as a Service (PaaS) Market worldwide. The Platform as a Service model provides sophisticated computing platform and tools that enable many enterprises to develop and manage applications in order to improve IT frameworks and technological power.
The Market of Platform as a service is growing due to unification of cloud & mobile platforms, increasing investment in disruptive technologies, high digital data explosion & integration and digital revolution among others. The continuously rising demand of cloud based services is increasing the adoption of platform as a service among various enterprise and business.
Global Platform as a Service Market is expect to grow at US ~$12 billion by the end of forecast period with CAGR of approx- 26%.
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Platform as a Service Market:
The Platform as a Service is the one of three main categories of cloud computing services that provides major business benefits such as on-demand payments, low cost and quick deployment of software, among others. The platform as a service market is increasing due to the growing adoption of PaaS model in cloud based services to help enterprises and business.
- Apprenda Inc. (U.S.)
- IBM Corp. (U.S.)
- Amazon.com, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- Google, Inc. (U.S.)
- Salesforce.com (U.S.)
- SAP SE (Germany)
- Oracle Corporation (U.S.)
- Dell Inc. (U.S.)
- Engine Yard, Inc. (U.S.)
- Cloud Bees, Inc. (U.S.)
- Pivotal Software, Inc. (U.S.)
- Red Hat, Inc. (U.S.)
- Consumer Electronics
- Software Application Developers
- Cloud service providers
- Telecommunication and IT
- Small and Medium Enterprises (SMEs)
- Research organizations
Market Research Analysis:
Market Research Future Analysis shows that Platform as a Service Market is growing rapidly and during the forecast period, it is expected to grow at CAGR of ~26%. Upcoming trends in the Cloud Based Services and Internet of Things Technology is expected to lead the market at new heights.
North America is dominating the market of Platform as Service Market due to the high-adoption rate of cloud-based services by various enterprises and businesses in this region. Major cloud service providers are such as Google, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), are based in North America thus supporting the platform as a service market.
Asia-Pacific is expected to show major growth in the market of Platform as Service Market due to the high growth in Cloud services & big data, telecom and IT sectors in this region.
Europe is expected to registering healthy growth in the Platform as Service Market due to increased adoption of cloud services by many SMEs & VSMs with higher enterprise engagement at the application level is supporting the market of platform as a service model
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