The Platform-as-a-Service (PaaS) market is a fast-growing technology that continues to evolve and diversify as demand increases globally. Many organizations are already using the cloud platform services, or Platform as a Service (PaaS) in various applications and other novel purposes, while also providing cloud components to software.
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Time to Market with Cloud Platform-as-a-Service (Paas)
‘Platform as a Service’ PasS is a component of stacked cloud computing services. It provides computing platform and numerous solutions and tools to companies to help them further develop and manage applications which can boost their productivity and scale more efficiency in their businesses. In terms of its importance in the current market, PaaS is regarded as one of the key solutions through which companies can improve their IT frameworks and overhaul technological power.
Coupled with SaaS and IaaS, PaaS functions without any complexity and provides deployment of several applications without the cost of managing and purchasing the basic software and hardware. Therefore, PaaS provides resource sharing, low-initial cost, management services, reuse, and life-cycle management as an ideal solution for service and application development.
The global market for Platform as a Service (PaaS), according to a U.S.-based market research agency, is set to expand at a compounded annual growth rate (CAGR) of 25.7% from 2014 to 2020. The market stood at US$1.60 billion in 2013, and is further expected to reach a market size of US$7.98 billion by 2020.
The PaaS market provides developers with a workable platform and a progressive IT infrastructure for the development, testing and deployment of applications – all on a pay-per-use basis. The PaaS market sees high growth due to the rising preferences of enterprises to expand operational expenditure, in turn reducing the capital expenditure. Lack of awareness of PaaS benefits and low adoption rate by small and medium enterprises (SMEs) are some notable factors hindering growth in this market.
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Global Platform-as-a-Service (PaaS) Market Segmentation
The overall Platform as a Service (PaaS) market has been segmented on the basis of implementation types that are divided into public cloud, private cloud and hybrid cloud. Accounting for more than 60% of the global revenue share, the public cloud segment dominated the PaaS market in 2013 owing to high efficiency, pay-per-use, agility, and scalability features. The segment is expected to continue its dominance and growth throughout the forecast period. The growing need to deploy techniques and incorporate modern application development in various industry applications are some major growth drivers further bolstering the public PaaS market.
Analyzing the Platform-as-a-Service (PaaS) marketplace on the basis of type, the market is further segmented into application development, application infrastructure and middleware (AIM), business intelligence platform and database management systems. Among the varied, the application infrastructure and middleware (AIM) is a significant enabling technology used for business applications. AIM is either deployed on-premise or off-premise.
All the above segments have been estimated for various geographies in terms of income (USD million).
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PaaS Market – by Regional Analysis
By geography, the PaaS market includes North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). North America has been leading the global PaaS market so far. It accounted for over 50% of the global market revenue share in 2013. North America witnesses significant growth due to the high-adoption rate of cloud-based services by various enterprises in this region.
Many other major cloud-based services, as well as PaaS providers are based out of the U.S. too. Asia Pacific, for instance, is expected to be the next-fastest growing markets for PaaS in the world. The PaaS market in Asia-Pacific is picking up pace due to the high growth in big data, telecom, and IT sectors in this region.
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