Platform as a Service (PaaS) Market - Trends Forecast Till 2028

Market Overview

The global Platform as a Service (PaaS) Market size is projected to reach a CAGR of 20.6% from 2022-2028.

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.

The increasing need to reduce time to market and cost of application development and focus on streamlining application management are some of the factors that have supported long-term expansion for Platform as a Service (PaaS) Market.

Regional Analysis

North America is expected to be the most promising region for major verticals, such as IT, BFSI, and telecommunications. The increasing budget allocation for cloud services among enterprises is further expected to drive the market in North America.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• AWS
• Microsoft
• Alibaba Cloud
• IBM
• Salesforce
• Google
• Oracle
• SAP
• Zoho Corporation
• Mendix

Recent Developments

• In January 2021, Microsoft introduced a new Wisely blockchain-enabled cPaaS offerings for enterprises, mobile carriers, OTT players, marketers, and industry regulators to improve their quality of service.
• In Septmber 2020, Oracle expanded its security portfolio with new cloud services designed to automatically help protect cloud workloads and data from risks posed by cyber threats. The three new cloud services, including Oracle data safe, Oracle cloud guard, and Oracle maximum security zones, provide centralized security configuration as well as automated enforcement of security practices.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Platform as a Service (PaaS) Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope