Platform-as-a-Service Market (2023-2030)
Platform-as-a-Service Market is projected to reach $227.5 billion by 2030, at a CAGR of 16.8% during the forecast period 2023–2030.
- Published
- May 2023
- Pages
- 207
- Format
- PDF + Excel
- Report ID
- MRICT - 104760
- Base year
- 2022
- 2030 · FORECAST
- $227.5B
- 2030
- $227.5B
- CAGR 2023–2030
- 16.8%
2022 baseline · 2023–2030 forecast at 16.8% CAGR · hover a bar for the value
Key highlights
Platform-as-a-Service Market is projected to reach $227.5 billion by 2030, at a CAGR of 16.8% during the forecast period 2023–2030.
Hybrid PaaS Segment is Expected to Account for the Largest Market Share
In 2023, North America is expected to account for the largest share of the global PaaS market.
However, Asia-Pacific is projected to register the highest CAGR during the forecast period. Asia-Pacific’s industrial sectors, such as IT & telecom, healthcare, manufacturing, BFSI, energy & utility, are rapidly adopting cloud technologies.
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 227.50 billion |
| CAGR (2023–2030) | 16.8% |
| Format | PDF, Excel & Cloud Portal · 207 pages |
| Segments Covered | By Deployment Mode: Private PaaS, Public PaaS, Hybrid PaaS · By Organization Size: Small & Medium Enterprises (SMEs), Large Enterprises · By Sector: IT & Telecom, Retail & E-commerce, BFSI, Healthcare, Manufacturing, Energy & Utility, Government & Defense, Other Sectors · By Type: Application PaaS, Integration PaaS, Database PaaS, Other PaaS |
| Countries Covered | North America (Canada), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), Latin America (Brazil) |
| Key Companies | Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Salesforce, Inc. (U.S.), SAP SE, Amazon Web Services, Inc. (U.S.), Google LLC (U.S.), Mendix Technology BV, Zoho Corporation Pvt. Ltd., VMware, Inc. (U.S.), ServiceNow, Inc. (U.S.), Alibaba Group Holding Limited, Software AG, Cisco Systems, Inc. (U.S.), Atos SE, IBM Corporation (U.S.) |
Report overview
Segments covered: deployment mode, organization size, sector, type. Regions: North America, Europe, Asia-Pacific, Latin America.
The growth of this market is driven by the increasing adoption of cloud computing technology, the growing implementation of IoT technology, and the rising need to reduce time to market and application development costs. However, data security & privacy concerns restrain the growth of this market. The increasing penetration of Artificial Intelligence (AI) and Machine Learning (ML) technologies and the growing demand for video PaaS are expected to create growth opportunities for the stakeholders in this market. However, cloud migration and vendor lock-in are major challenges for market growth.
Report infographic
Market dynamics
1 factors across 1 forceGrowth in IoT Adoption is Expected to Drive the Platform-as-a-Service Market
IoT technology is being increasingly implemented across industries. Most IoT-centric solutions are implemented on PaaS platforms such as application PaaS (aPaaS) and integration PaaS (iPaaS), which is expected to boost the demand for PaaS cloud. Additionally, PaaS is used for IoT device management, orchestration, and business process management Platform-as-a-Service (bpmPaaS), database Platform-as-a-Service (dbPaaS) and analytics services. PaaS reduces coding requirements and time to market; hence, developers can customize apps without having to worry about maintaining software and easily and cost-effectively develop and deploy apps.
Table of contents
12 chapters · 153 sections · 207 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Type | Database PaaS | — |
| By Deployment Mode | Hybrid PaaS | Further, this |
| By Organization Size | Large enterprises | SMEs |
| By Sector | — | Further, this |
By Type
- The Platform-as-a-Service market is segmented into application PaaS (aPaaS), integration PaaS (iPaaS), database PaaS (dbPaaS) and other PaaS such as Communication PaaS, Mobile PaaS, Open PaaS, and AIPaaS.
- The database PaaS segment is expected to account for the largest share of the global Platform-as-a-Service market.
- In addition, this segment is projected to register the highest CAGR during the forecast period. dbPaaS offers benefits such as automatic tuning, an autonomous artificial intelligence-based performance tuning option for fixing any performance-related problems without user involvement; business continuity with remarkable backup and data restoring capabilities; long-term backup retention, allowing to keep data backup for up to ten years; and geo-replication, where user can virtually create readable secondary databases in different data center locations.
By Deployment Mode
- Hybrid PaaS Segment is Expected to Account for the Largest Market Share
- The hybrid PaaS segment is expected to account for the largest share of the global PaaS market.
- This segment's large market share is attributed to its benefits, such as increased flexibility, improved security, and better resource utilization.
- Further, this segment is projected to register the highest CAGR during the forecast period.
- The growth of this segment is driven by its benefits, such as orchestration, management, and application portability across all three clouds, offering a unified and flexible distributed computing environment where an organization runs and scales its traditional (legacy) or cloud-native workloads on the most appropriate computing model.
By Organization Size
- The market is segmented into small & medium enterprises and large enterprises.
- The large enterprises segment is expected to account for the largest share of the global PaaS market.
- However, the SMEs segment is projected to register the highest CAGR during the forecast period.
- The growth of this segment is driven by factors such as the flexibility and scalability offered by the PaaS providers to help SMEs quickly change their cloud storage and application requirements as per their business demands.
By Sector
- The market is segmented into BFSI, retail & e-commerce, IT & telecom, manufacturing, healthcare, energy & utility, government & defense, and other sectors.
- The IT & telecom sector is expected to account for the largest share of the global PaaS market.
- Further, this segment is expected to register the highest growth rate during the forecast period.
- PaaS solutions offer direct support for business agility to software development teams in IT companies, enabling rapid development with faster and more frequent delivery of functionality.
Geographic analysis
North America
Largest shareIn 2023, North America is expected to account for the largest share of the global PaaS market.
Asia-Pacific
Fastest growthHowever, Asia-Pacific is projected to register the highest CAGR during the forecast period. Asia-Pacific’s industrial sectors, such as IT & telecom, healthcare, manufacturing, BFSI, energy & utility, are rapidly adopting cloud technologies. Countries such as China and India are investing in building a strong infrastructure. These countries are amidst the construction of smart cities integrated with advanced technologies, such as 5G, IoT, and big data, to improve the lives of their citizens. Such projects have influenced the demand for cloud technologies that support and analyze the data generated from smart cities.
Competitive landscape
- Microsoft Corporation (U.S.)
- Oracle Corporation (U.S.)
- Salesforce, Inc. (U.S.)
- SAP SE · Germany
- Amazon Web Services, Inc. (U.S.)
- Google LLC (U.S.)
- Mendix Technology BV · Netherlands
- Zoho Corporation Pvt. Ltd. · India
- VMware, Inc. (U.S.)
- ServiceNow, Inc. (U.S.)
- Alibaba Group Holding Limited · China
- Software AG · Germany
- Cisco Systems, Inc. (U.S.)
- Atos SE · France
- IBM Corporation (U.S.)
Frequently asked questions
The Platform-as-a-Service market is projected to reach $227.5 billion by 2030, at a CAGR of 16.8% during the forecast period.
Cite this report
Meticulous Research. (2023). Platform-as-a-Service-Market - Global Opportunity Analysis and Industry Forecast (2023-2030) (Report No. MRICT - 104760). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/platform-as-a-service-market-5444