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Platform-as-a-Service Market
The platform as a service market is segmented on the basis of type, deployment mode, organization size, industry vertical, and region.
PORTLAND , PORTLAND, OR, UNITED STATE, August 18, 2022 /EINPresswire.com / -- According to the report published by Allied Market Research, the global platform as a service (PaaS) market garnered $44 billion in 2020, and is estimated to reach $319 billion by 2030, witnessing a CAGR of 22.0% from 2021 to 2030.
Ease in scalability of PaaS and rise complexity of modern-day businesses drive the growth of the global platform as a service market. However, data safety and privacy issues restrain the market growth. On the other hand, advancements in the field of cloud computing create new opportunities in the coming years.
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Impact of Covid-19 on Platform-as-a-Service Market-
•The demand for platform-as-a-service (PaaS) solutions increased during the Covid-19 pandemic with adoption of the“work from home” culture in organizations and high dependency on cloud resources.
•In addition, online shopping increased during the pandemic to ensure safety and prevent cross-contamination that may take place in visits to physical stores. This led to adoption of PaaS solutions to scale up cloud presence by small and medium level enterprises.
•Many organizations have been planning to use domestic, cross-border, and regional payment solutions through a single interface and manage complexities and difficulties regarding moving funds. This resulted in PaaS adoption.
The report offers detailed segmentation of the global platform as a service market based on type, deployment mode, organization size, industry vertical, and region.
Based on deployment mode, the public segment accounted for the highest share in 2020, contributing to more than four-fifths of the total share, and is estimated to continue its leadership status throughout the forecast period. However, the private segment is projected to witness the fastest CAGR of 23.8% from 2021 to 2030.
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Based on industry vertical, the IT and ITeS segment held the highest share in 2020, accounting for nearly one-fifth of the global platform as a service market, and is projected to maintain its dominance during the forecast period. Moreover, this segment is expected to manifest the largest CAGR of 22.6% from 2021 to 2030. The research also analyzes the segments including BFSI, consumer goods & retail, telecommunication, manufacturing, healthcare & life sciences, energy & utility, and others.
Based on region, North America contributed to the largest share in 2020, holding nearly two-fifths of the total share, and is expected to continue its lead position in terms of revenue by 2030. However, LAMEA is projected to grow at the highest CAGR of 27.4% during the forecast period.
Leading players of the global platform as a service market analyzed in the research include AWS, Alibaba Cloud, Microsoft, Salesforce, IBM, Oracle, Google, Zoho Corporation, SAP, and Mendix.
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Key Benefits For Stakeholders
•The study provides an in-depth analysis of the platform as a service market forecast growth along with current trends and future estimations to elucidate imminent investment pockets.
•Information about key drivers, restraints, and opportunities and their impact analysis on the PaaS market size is provided in the report.
•Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
•The quantitative analysis of platform as a service market opportunity for the period 2020–20230 is provided to determine the market potential.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Analytics LLP
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