Technavio’s latest market research report on the global
platform-as-a-service (PaaS) market predicts the market to witness a
CAGR of 22% during the forecast period. However, the market is expected
to decelerate over the forecast period as the year-over-year growth in
declining. This research report segments the market by deployment
(public, private, and hybrid) and geography (North America, Europe,
APAC, South America, and MEA).
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Technavio has published a new market research report on the global platform-as-a-service (PaaS) market from 2019-2023. (Graphic: Business Wire)
Emergence of video communication PaaS to gain popularity
Video communication PaaS enables developers to add various attributes
including real-time video communication feature to cloud computing to
enable communication among various customers without the requirement of
building back-end infrastructure and interfaces. Video communication
technology also offers various end-users with a medium to conduct
commercial services. Therefore, various organizations and customers are
adopting the video communication platform to strengthen the bonding
between various communicating end-users as it diminishes geographical
boundaries. The rising demand for this service in the business, media,
education, and healthcare sectors is another key reason for the
increasing use of video communication PaaS solutions. Thus, with growing
number of end-users adopting this platform the global
platform-as-a-service (PaaS) market is anticipated to witness
significant growth during the next few years.
Public cloud segment garnered the highest share during 2018
Public cloud segment accounted for the highest share of the market
during 2018. Cloud vendors are offering the public cloud services on
subscription-based model. Various organizations are adopting public
cloud services due to the several advantages offered which include
high-scalability, flexibility, high-availability, reduced complexity,
and minimal investments. The adoption of public cloud solutions makes it
convenient for SMEs to access advanced solutions including big data,
data analytics, and the Internet of Things (IoT). Therefore, with more
and more SMEs embracing public PaaS, the public cloud segment will
witness significant growth in the forthcoming years.
“Various organizations are shifting toward public cloud offerings as
they are easy to implement. In addition, public cloud vendors are also
offering a framework to be used by developers to create or customize
cloud-based applications,” says a senior research analyst at Technavio.
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Platform-as-a-service (PaaS) to witness fastest adoption in the APAC
region
The PaaS market is witnessing a steady growth in the APAC region mainly
due to the increasing revenue contribution from emerging economies
including China, Japan, and India. The key reason for the growth of this
region are favorable government initiatives targeted at promoting the
adoption of cloud solutions. In addition, the increased use of
smartphones and various mobile applications are boosting the development
of new applications. This is encouraging companies to deploy PaaS due to
its flexibility and scalability. Thus, the growing adoption of
smartphones coupled with launch of PaaS solutions to cater to the
evolving end-user requirement will drive the PaaS market growth during
the next few years.
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
Some of the key topics covered in the global
platform-as-a-service (PaaS) market analysis include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190607005253/en/