Global PaaS Market

PaaS Market Size, Share, Growth Analysis, By Type(Software, Service), By Services(Consulting, Implementing, Training), By Deployment(Cloud, On-Premises), By Organization(Large Enterprises, Small, Medium Enterprises (SMEs)), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45D2040 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 115 | Figures: 75

PaaS Market Dynamics

PaaS Market Driver

  • Companies' technology landscapes are evolving at an alarming rate, including how infrastructure is constructed and maintained, as well as how software applications are produced and distributed. Time to Market (TTM) is the time it takes a company to offer a product or feature; it is an important aspect in determining an organization's performance, along with the development cost of its products. It is easier to introduce a product when you have more control over the development process. Almost all businesses value TTM and strive to enhance it, however, the majority of businesses fail to achieve the required TTM due to inefficiencies in the whole digital landscape.
  • The key to empowering developers and improving customer engagement and experiences is digital transformation. Companies want to launch the product as quickly as possible because it is projected that the first software product to hit the market would capture up to 70% of the market share. Companies will incur financial damages if their TTM targets are not met. It has been discovered that introducing a product six months later to the market results in a 33% decrease in profit over five years. On the other hand, if a product is launched on time but is 50% over budget, the profit will be lowered by about 4%.

PaaS Market Restraint

  • When marketing teams label their program to make it more appealing, the term cloud washing is used. PaaS systems that have been cloud-washed differ from cloud-native offerings. PaaS systems that have been cloud-washed provide similar architecture and programming approaches. These systems have limited cloud capabilities and provide only incremental improvements. Cloud-native solutions that inject behavior into the application, on the other hand, divorce application code from run-time infrastructure details, boost application density and enable dispersed interactions. End users are frequently unable to discern whether a PaaS is cloud-washed or cloud-native. Cloud-washed solutions use a lot of system resources (such as CPU and memory) and require a lot of administration work. As a result, the usage of cloud-washed solutions is projected to stifle industry growth.
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FAQs

PaaS Market size was valued at USD 60.12 billion in 2019 and is poised to grow from USD 71.72 billion in 2023 to USD 351.09 billion by 2031, growing at a CAGR of 19.3% in the forecast period (2024-2031).

In today's highly competitive industry, increasing work agility and providing better client experiences have become critical. PaaS is being used by businesses in the BFSI, healthcare, IT and Telecom, and other industries to boost productivity and efficiency while lowering labor costs for repetitive operations. 'AWS', 'Microsoft', 'Alibaba Cloud', 'Mendix', 'Salesforce.com, Inc.', 'IBM Corporation', 'Google LLC', 'Red Hat, Inc.', 'Oracle Corporation', 'SAP SE', 'Pivotal Software, Inc.', 'Heroku (Salesforce)', 'Engine Yard, Inc.', 'CloudBees, Inc.', 'OpenShift (Red Hat)', 'Cloud Foundry Foundation', 'Docker, Inc.', 'Cloud66 Ltd.'

Companies' technology landscapes are evolving at an alarming rate, including how infrastructure is constructed and maintained, as well as how software applications are produced and distributed. Time to Market (TTM) is the time it takes a company to offer a product or feature; it is an important aspect in determining an organization's performance, along with the development cost of its products. It is easier to introduce a product when you have more control over the development process. Almost all businesses value TTM and strive to enhance it, however, the majority of businesses fail to achieve the required TTM due to inefficiencies in the whole digital landscape.

The mobile ecosystem is rapidly expanding, and app development is emerging as a critical component powering its expansion. Because of the emergence of digital enterprises, the creation of corporate mobile apps is becoming a major concern for businesses. According to a 451 Research report, 50% of IT businesses aim to implement at least ten mobile apps during the next two years. The COVID-19 outbreak has caused a surge in demand for several mobile applications.

The PaaS Market is divided into five primary geographic regions: North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. For major verticals such as IT, BFSI, and telecoms, North America is projected to be the most potential market. The growing budget allocation for cloud services among organizations is likely to boost the market in North America even further. North America is expected to be the most potential market for main verticals such as telecommunications, information technology, and information technology-enabled services (ITeS), business and financial services (BFSI), and government and public sector. The North American PaaS market is likely to increase steadily throughout the forecast period, as organizations use innovative application development technologies at various levels as part of their plan to remain competitive.

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Global PaaS Market

Report ID: SQMIG45D2040

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