Published Date: 26-May-2021
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According to a new report Global Platform as a Service (PaaS) Market, published by KBV research, The Global Platform as a Service (PaaS) Market size is expected to reach $167.3 billion by 2027, rising at a market growth of 16.4% CAGR during the forecast period.
The PaaS segment is becoming highly popular among companies, due to the several advantages it provides, like lower coding time, extra development capabilities without including more staff, designing the application for various platforms, accessibility to support tools, support for geographically dispersed teams, and effective management of application development lifecycle.
The PaaS market has gained a significant place among large enterprises, as the IT infrastructures become more complicated in large enterprises in comparison to SMEs. The growing demand for employees to gain access to computing resources and applications from a remote location and anytime has made it complicated for enterprises to store their data appropriately, monitor and manage their data centers, and work on their core business competencies.
The North America market dominated the Global Platform as a Service (PaaS) Market by Region 2020, growing at a CAGR of 14.9 % during the forecast period. The Europe market is experiencing a CAGR of 15.5% during (2021 - 2027). Additionally, The Asia Pacific market is poised to witness a CAGR of 18.3% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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