The Europe Platform as a Service (PaaS) Market would witness market growth of 15.5% CAGR during the forecast period (2021-2027). PaaS (platform as a service) refers to a cloud computing model where third-party vendors offer software and hardware equipment to users over the internet.
These types of equipment are generally required for application development. Hardware, as well as software, is hosted by PaaS vendors on its own infrastructure. Due to this, PaaS provides freedom to developers from having to implement in-house hardware as well as software to create or run a new application. PaaS tools are often regarded as easy to use and convenient. Users will generally have to make a payment on the basis of per-use. A company that adopts PaaS may find it forceful based on potential cost savings over utilizing on-premises options.
PaaS provides subscribers with pay-per-use features in which the user is needed to pay a subscription fee, based on the business needs. This is extremely useful as the subscribers can utilize the platforms to create, run, test, and install the application as well as increase the users of the application on the basis of need. Thus, PaaS streamlines application development management, scaling, and installation, hence enabling larger developer efficiency and innovation. In addition, PaaS also offers a self-service, flexible and robust utility model which allows the uploading of compiled code in .NET or J2EEE framework, and immediately installs and runs standard- and custom-built applications. This complicated process can be finished rapidly, instead of consuming weeks/months. Therefore, these aspects would fuel the platform as a service (PaaS) market growth during the forecast period.
The Germany market dominated the Europe Government & Defense Platform as a Service (PaaS) Market by Country 2020, thereby, achieving a market value of $1,054.9 million by 2027. The UK market is exhibiting a CAGR of 16.4% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 18.1% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Platform as a Service (PaaS) Market Size will Hit $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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