Platform as a Service (PaaS) Market is estimated to grow at a CAGR of 23.4% during forecast period and projected to reach USD 191 Billion by 2027.

A Platform as a service (PaaS) or application platform as a service (PaaS) or platform-based service is a category of Cloud Computing services that provides a platform for developing, operating, and managing application without building an IT infrastructure. In a PaaS platform, a third-party provider offers hardware and software tools, usually those required for application development to users through the internet. The PaaS platform is of several types, including private cloud, public cloud, and hybrid cloud.

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The major factors that are driving the growth of the global PaaS market include the growing adoption of cloud computing and the increasing adoption of PaaS in the application development process owing to its agility, scalability, limited need for expertise, easy deployment, and lesser cost and development time. A rising number of organizations are opting to invest in “at-a-service” technology offerings such as the platform-as-a-service, or PaaS model. PaaS is widely adopted by enterprises who goes through a digital transformation as it enables enterprises to work faster, efficiently, able to deliver apps quickly, and engage with the market faster. Increasing investment in PaaS by cloud mega-vendors such as AWS, Microsoft, and Google is further propelling market growth.

The increasing cloud infrastructure spending by major companies is further accelerating the growth of the market. Moreover, the emergence of video communication PaaS is also propelling the growth of the market. Video communication PaaS is obtaining popularity in various sectors such as business, media, education, and healthcare, which further fuels the growth of the market. However, security concern and lack of awareness are hampering the growth of the market.

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Based on an implementation model, the hybrid cloud segment is projected to grow at a higher CAGR during the forecast period due to the accelerating adoption of hybrid cloud solutions by major companies such as Amazon, Microsoft, and VMWare to increase efficiency, advancements, and to minimize cost. The hybrid cloud is the combination of public, private cloud, and on-premises cloud. PaaS providing companies in the industry are leveraging this technology to improve their agility, increase deployment, and lower IT costs. For instance, Amazon Web Service has developed a set of hybrid capabilities in the industry to capitalize on the global market.

Based on the vertical, the Banking, Financial Services & Insurance (BFSI)segment is expected to grow at a faster CAGR in the global Platform-as-a-Service (PaaS) market over the forecast period due to the increasing adoption of cloud computing and the rising digitalization. The BFSI sector is opting for PaaS to enhance productivity, improve customer experience and satisfaction, reduce IT infrastructure cost, and enhance data security. This factor is further fuelling the growth of the market.

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Based on the region, the Asia-pacific is projected to dominate the global Platform-as-a-Service (PaaS) market over the forecast period owing to the increasing availability of skilled labor and the growing adoption of cloud computing among SMEs and large enterprises of this region. In addition to this, industrialization and digitalization are gaining traction in this region, which further fuels the demand for PaaS to enhance the productivity and efficiency of the organization.

Various notable players in the Platform-as-a-Service (PaaS) market include Amazon Web Service, Microsoft Corporation, Google LLC, Salesforce.com, Inc., Oracle Corporation, VMware, Inc., Rackspace Inc., Adobe, Inc., Verizon, SAP SE, and Alibaba Cloud, among others.

Key Developments:

• • In Oct 2019, Microsoft entered into USD 10 billion cloud contract from Pentagon. The Joint Enterprise Defence Infrastructure (JEDI), will provide enterprise-level, commercial Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) to support the Department of Defence business and mission operations.
  • In Aug 2019, VMWare acquired Carbon Black, a publicly traded security company that focuses on securing modern cloud-native workloads. With this acquisition of Carbon Black, the company aimed to expands its scope into Cloud-native IT networking and security solutions powered by Big Data and emerging Cloud Computing technologies.

The Global Platform-as-a-Service (PaaS) market has been segmented based on the solution, application, implementation models, end-user, industry, and region. Based on the solution, the market is categorized into Business Application Platforms, Raw Computing Platforms, Social Application Platforms, and Web Application Platforms. Based on the Application, the market is segmented Application Development and Management PaaS (ADM PaaS), Business Process Management PaaS (BPM PaaS), Application PaaS (APaaS) Integration PaaS (IPaaS), And Other PaaS. Based on the implementation model, the market is segmented into Public Cloud, Private Cloud, And Hybrid Cloud. Based on end-user, the market is segmented into Enterprises, And Small & Medium Businesses (SMB). Based on the Industry, the market is segmented into Banking, Financial Services & Insurance (BFSI), Consumer Goods & Retail, Education, Gaming, Healthcare, Logistics & Transportation, Public Sector & Government, Telecommunications & IT, Travel & Hospitality, And Others.

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Key questions answered in this research report:

• • At what pace is the global Platform-as-a-Service (PaaS) market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Platform-as-a-Service (PaaS) market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Platform-as-a-Service (PaaS) market?
  • Which implementation models generated maximum revenues in 2019 and identify the most promising implementation models during the forecast period?
  • What are the various application areas of global Platform-as-a-Service (PaaS) market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 191 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Solution, By Application, By Implementation Models, By End-User, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Amazon Web Service, Microsoft Corporation, Google LLC, Salesforce.com, Inc., Oracle Corporation, VMware, Inc., Rackspace Inc., Adobe, Inc., Verizon, SAP SE, Alibaba Cloud, among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Platform-as-a-Service (PaaS) Market by Solution         

• • Business Application Platforms
  • Raw Computing Platforms
  • Social Application Platforms
  • Web Application Platforms

Global Platform-as-a-Service (PaaS) Market by Application   

• • Application Development and Management PaaS (ADM PaaS)
  • Business Process Management PaaS (BPM PaaS)
  • Application PaaS (APaaS)
  • Integration PaaS (IPaaS)
  • Other PaaS

Global Platform-as-a-Service (PaaS) Market by Implementation Models           

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Platform-as-a-Service (PaaS) Market by End-User       

• • Enterprises
  • Small & Medium Businesses (SMB)

Global Platform-as-a-Service (PaaS) Market by Industry        

• • Banking, Financial Services & Insurance (BFSI)
  • Consumer Goods & Retail
  • Education
  • Gaming
  • Healthcare
  • Logistics & Transportation
  • Public Sector & Government
  • Telecommunications & IT
  • Travel & Hospitality
  • Others

Global Platform-as-a-Service (PaaS) Market by Region

• • North America Platform-as-a-Service (PaaS) Market (Option 1: As a part of the free 25% customization)
    • North America Platform-as-a-Service (PaaS) Market by Solution
    • North America Platform-as-a-Service (PaaS) Market by Application
    • North America Platform-as-a-Service (PaaS) Market by Implementation Mode
    • North America Platform-as-a-Service (PaaS) Market by End-User
    • North America Platform-as-a-Service (PaaS) Market by Industry
    • US Platform-as-a-Service (PaaS) Market All-Up
    • Canada Platform-as-a-Service (PaaS) Market All-Up
  • Europe Platform-as-a-Service (PaaS) Market (Option 2: As a part of the free 25% customization)
    • Europe Platform-as-a-Service (PaaS) Market by Solution
    • Europe Platform-as-a-Service (PaaS) Market by Application
    • Europe Platform-as-a-Service (PaaS) Market by Implementation Mode
    • Europe Platform-as-a-Service (PaaS) Market by End-User
    • Europe Platform-as-a-Service (PaaS) Market by Industry
    • Spain Platform-as-a-Service (PaaS) Market All-Up
    • Germany Platform-as-a-Service (PaaS) Market All-Up
    • UK Platform-as-a-Service (PaaS) Market All-Up
    • France Platform-as-a-Service (PaaS) Market All-Up
    • Rest of Europe Platform-as-a-Service (PaaS) Market All-Up

• • Asia-Pacific Platform-as-a-Service (PaaS) Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Solution
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Application
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Implementation Mode
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by End-User
    • Asia-Pacific Platform-as-a-Service (PaaS) Market by Industry
    • China Platform-as-a-Service (PaaS) Market All-Up
    • India Platform-as-a-Service (PaaS) Market All-Up
    • Japan Platform-as-a-Service (PaaS) Market All-Up
    • Rest of APAC Platform-as-a-Service (PaaS) Market All-Up
  • ROW Platform-as-a-Service (PaaS) Market (Option 4: As a part of the free 25% customization)
    • ROW Platform-as-a-Service (PaaS) Market by Solution
    • ROW Platform-as-a-Service (PaaS) Market by Application
    • ROW Platform-as-a-Service (PaaS) Market by Implementation Mode
    • ROW Platform-as-a-Service (PaaS) Market by End-User
    • ROW Platform-as-a-Service (PaaS) Market by Industry
    • Brazil Platform-as-a-Service (PaaS) Market All-Up
    • UAE Platform-as-a-Service (PaaS) Market All-Up
    • South Africa Platform-as-a-Service (PaaS) Market All-Up
    • Saudi Arabia Platform-as-a-Service (PaaS) Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Platform-as-a-Service (PaaS) Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Amazon Web Service
  • Microsoft Corporation
  • Google LLC
  • com, Inc.
  • Oracle Corporation
  • VMware, Inc.
  • Rackspace Inc.
  • Adobe, Inc.,
  • Verizon
  • SAP SE
  • Alibaba Cloud