Global Public Cloud Platform as a Service Market will hit $$319 billion by 2030

A CAGR of 22% is expected between 2021 and 2030 for the global platform as a service market, which was valued at $44 billion in 2020. A cloud computing model known as Platform as a Service (or PaaS) makes it possible to access a wide range of cloud-based application infrastructure and middleware (AIM) services. A PaaS provider owns and manages its own hardware and software. When it comes to developing new applications, PaaS eliminates the need for developers to install in-house gear and software.

Platform as a service (PaaS) is a cloud computing concept that provides applications over the Internet. Software and hardware normally used in application development are provided as a service by a cloud provider under this arrangement. The software and hardware are hosted by the service provider on its own infrastructure. By eliminating the need to set up and maintain hardware and software on-premises, PaaS frees up clients to focus on developing and deploying new applications. PaaS comes in several flavours, including private, public, and hybrid. Public-cloud PaaS was first established before extending to include private and hybrid choices.

If you’re looking to get started with the public cloud platform as a service, you’ll find a variety of options to choose from, such as platform as a service (PaaS) providers, service providers, and others. There are more forms of PaaS, such as the cloud business process management (BPM) PaaS and the cloud horizontal portal services. Cloud application platform services (aPaaS) accounted for 34.0% of the entire PaaS market in 2021, making it the largest section of the public cloud PaaS industry.

PaaS market share is likely to continue to be heavily weighted toward applications in 2019, according to a recent report from Forrester Research. Mobile, online, and corporate application development are all seeing an increase in investment, which bodes well for the future growth of the application segment’s market. Artificial Intelligence (AI) and other technological breakthroughs in PaaS services are expected to drive market growth in the application area. Increase in popularity of cloud-based services is estimated to further boost the platform as service market for application segment growth during the projected timeframe.

Global Public Cloud Platform as a Service Market The segment review

Organization size, vertical sector, and geographic location all play a role in dividing the platform as a service market. The market is broken down into application, integration, database, and other types of PaaS providers. The market is divided into public and private modes based on deployment mode. It is divided into big and small and medium enterprises based on the size of the company. For example, the BFSI, consumer goods and retail, telecommunications, it and ites, manufacturing, healthcare and life sciences as well as energy and utility sectors are all classified as industry verticals. Several regions have been examined in terms of the PaaS market: North America; Europe; Asia; and Latin America and the Middle East

Global Public Cloud Platform as a Service Market Analyses of the Effects of COVID

The worldwide platform-as-a-service market is expected to reach $53,211 million in 2021 after COVID-19 and $319,515 million by 2030, according to estimates.

Cloud computing has been increasingly popular among small and medium-sized businesses (SMEs) due to the COVID epidemic, which has resulted in many SMEs turning to PaaS solutions as a means of increasing the size of their cloud presence, particularly in the SMB market. A growing number of businesses believe that the rise of digital payments will need the employment of a 3rd-party service provider, which will be able to utilise domestic, cross-border and regional payment solutions through a single interface. Providers also intend to deal with the obstacles and complications that come with shifting money. As a result, the platform as a service market is predicted to benefit from digitization and online payment, as well as the development of new products.

Global Public Cloud Platform as a Service Market Key Market Segments

By Type

Application PaaS (aPaaS)
Integration PaaS (iPaaS)
Database PaaS (dbPaaS)
Others

By Deployment Mode

Public
Private

By Organization Size

Large Enterprises
SMEs

By Industry Verticals

BFSI
Consumer goods and retail
Telecommunication
IT and ITeS
Manufacturing
Healthcare and life sciences
Energy and utility
Others

By Region

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Italy
- Finland
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa