The Asia Pacific Platform as a Service (PaaS) Market would witness market growth of 18.3% CAGR during the forecast period (2021-2027). Platform as a service is defined as an application platform as a service that is a subset of cloud computing services.
Using PaaS, customers are offered with a computing platform and several solutions or tools with an aim to create applications. PaaS assists in the designing of applications or services without the complication of provisioning hosting capabilities and the price of handling and purchasing the underlying hardware and software. Therefore, less initial cost, management services, resource sharing, the incremental cost with development in your service utilization, automated deployment, reuse, and life-cycle management are offered by PaaS.
Using the internet connection, PaaS can be accessed, hence becoming feasible to develop a complete application in a web browser. Developers are capable of doing work on the application from any place in the world as the building environment is not hosted locally. This helps the widely dispersed teams to establish collaboration. It also gives a low amount of control to developers over the development environment; however, this comes with far less overhead.
There is an abrupt shift in the business of many industries due to the noble coronavirus. As a majority of the countries have imposed strict lockdown and various industries are shutting down their business in order to curb the transmission of the virus, the platform as a service (PaaS) market also witnessed a major impact due to the global pandemic. Moreover, in order to handle the appropriate information with superior speed and flexibility, the health care industry requires a safer and more scalable cloud infrastructure.
The China market dominated the Asia Pacific Platform as a Service (PaaS) Hybrid Cloud Market by Country 2020, thereby, achieving a market value of $2,421.6 million by 2027. The Japan market is showcasing a CAGR of 19.4% during (2021 - 2027). Additionally, The India market is estimated to grow at a CAGR of 20.9% during (2021 - 2027).
Based on Type, the market is segmented into Application PaaS (aPaaS), Integration PaaS (iPaaS), Database PaaS (dbPaaS) and Others. Based on Deployment, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utilities, Manufacturing and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Platform as a Service (PaaS) Market is Projected to reach USD 167.3 Billion by 2027, at a CAGR of 16.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Microsoft Corporation, IBM Corporation, Salesforce.com, Inc., Google, Inc., Oracle Corporation, SAP SE, Siemens AG, Dell Technologies, Inc. (VMware, Inc.), and Zoho Corporation Pvt. Ltd.
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