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. Platform as a service (PaaS) refers to the cloud computing offering in which a particular co-op transports a stage to customers, allowing them to develop, run, and monitor business applications without the requirement to assemble and manage the framework such programming development measures generally need.
New York, May 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Platform as a Service Market By Type, By Deployment, By Organization Size, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06075912/?utm_source=GNW
The ability to enhance the efficiency of a designer is one of the major benefits of a platform as a service (PaaS). Platform as a Service (PaaS) Business provides direct assistance for business spryness by supporting rapid development with faster and more successive conveyance of usefulness. PaaS frameworks are generally deployed in security and information insurance, having capacities such as reinforcements and replications. This can enhance security and reduce the need for in-house security capacities. Thus, with the help of PaaS, designers get the freedom from installing in-house equipment and programming to develop or run another application.
Creating, running, and installing on-premise applications is a complicated, costly, and slow task. There is a requirement of a database, middleware, hardware, operating system (OS), web services, and other software in these applications. Moreover, there is also a need for a group of database, system, and network management experts in order to ensure the smooth functioning of everything. Any alteration in business would necessitate an alteration in the application, hence starting another complicated cycle of development, tests, and installation. PaaS offers the complete infrastructure over the Internet, needed to create, test, run, and install the application. The uses can gain access to customer applications developed in the cloud, while independent software vendors (ISVs) and IT departments could aim towards innovation instead of managing complicated infrastructure.
Based on Type, the market is segmented into Application PaaS (aPaaS), Integration PaaS (iPaaS), Database PaaS (dbPaaS) and Others. Application PaaS (APaaS) segment would procure the higher revenue share of the global market over the forecast years. As aPaaS offers modernization efforts while fulfilling every security parameter, hence numerous government organizations are accepting it.
Based on Deployment, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. The public cloud deployment segment would obtain a significant revenue share in 2020. With the increasing adoption of public PaaS, the public cloud segment is rapidly increasing. It provides a broad scope for data recovery and provides infrastructure, such as OS, middleware, hardware, and software in order to run applications across various platforms.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Large enterprises would garner a higher revenue share throughout the forecast period. Large enterprises have been witnessing the rising trend of digitalization. In addition to it, large enterprises are also witnessing the increasing connectivity of bandwidths and mobility trends because of the existence of a massive workforce. There is a big corporate network and various revenue streams in large enterprises.
Industry Vertical Outlook
Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utilities, Manufacturing and Others. The manufacturing industry vertical would garner a bigger revenue share during the forecast period. There is a rapid increment in the demand for quicker delivery and augmented production. Cloud technology helps manufacturing companies in catering to these rising demands. It is necessary for the manufacturing company to be flexible to the worldwide changes in computing and connectivity.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would be the dominating region for important verticals like BFSI, IT, and telecommunications. The regional market would be boosted by the growing budget allocation for cloud services among enterprises. The PaaS market size in North America would grow gradually throughout the forecast period, as companies are embracing new application development technologies at different levels as a part of their strategy to survive in the high competition.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, Google, Inc., and Amazon.com, Inc. are the forerunners in the Platform as a Service (PaaS) Market. Companies such as IBM Corporation, Salesforce.com, Inc., Siemens AG, and Oracle Corporation are some of the key innovators in the market.
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.
Recent strategies deployed in Platform as a Service (PaaS) Market
Partnerships, Collaborations, and Agreements:
Mar-2021: Google Cloud formed a partnership with Tata Communications, an Indian telecommunications company. Under this partnership, Tata Communications aims to expand its managed public cloud services offerings to add the capabilities for Google Cloud. The partnership would enable companies to deploy and access Google Cloud services via Tata Communications’ IZO Managed Cloud and simultaneously offering them ease-of-use along with end-to-end services that include workload migration, cloud architecture planning, and ongoing operational support.
Feb-2021: IBM came into partnership with Palantir Technologies, a public American software company. The partnership includes IBM’s hybrid cloud data platform developed to provide AI for business, with Palantir’s next-generation operations platform for creating applications.
Feb-2021: Google came into partnership with Ford Motor. This partnership is termed for six years and aims to develop new customer services and modernize internal operations. Under this partnership, Ford will include the tech giant’s Android operating system into its Ford and Lincoln vehicles beginning in 2023.
Jan-2021: Microsoft collaborated with Tanla Platforms, a cloud communications company. Together, the companies introduced Wisely, a Blockchain-enabled communications platform-as-a-service (CPaaS) offering based on Azure Cloud. The network-based on Blockchain delivers comprehensive data visibility, allowing one source of truth for every stakeholder.
Dec-2020: Amazon Web Services formed a collaboration with Twitter. Under this collaboration, Twitter selected AWS to offer global cloud infrastructure to provide Twitter timelines. Twitter would leverage AWS’s proven infrastructure and suite of services to complement the delivery of millions of daily Tweets.
Dec-2020: SAP extended its partnership with Microsoft, an American multinational technology company. This expansion aimed to enable users to develop & run intelligent digital supply chain and Industry 4.0 solutions in the cloud and at the edge. The partnership would also shape the future of the supply chain and manufacturing.
Aug-2020: Google Cloud extended its partnership with Informatica, the enterprise cloud data management leader. This expansion aims to include a new joint go-to-market initiative to boost analytics with BigQuery and SAP on Google Cloud. Moreover, Informatica Intelligent Cloud Services (IICS) can be accessible on Google Cloud Marketplace and Informatica Change Data Capture (CDC) would combine with BigQuery.
Aug-2020: SAP partnered with Hewlett Packard Enterprise (HPE), an American multinational enterprise information technology company. This partnership aimed to provide the user version of SAP HANA Enterprise Cloud with HPE GreenLake, as a comprehensive managed service at the edge, in the users’ data center or colocation facility of their choice. Customers could keep their SAP software landscape and data on-premises and also get the advantages of a subscription-based, elastic, agile, and perfect cloud experience from SAP with HPE GreenLake.
Jun-2020: Salesforce partnered with Tanium, the leader in endpoint management and security. This partnership focuses on developing an employee service solution for the latest all-digital, work from any place in: the world, providing IT teams visibility & control of employee gadgets and services on their network.
May-2020: AWS extended its collaboration with Red Hat, an American multinational software company. This expansion aimed to provide Amazon Red Hat OpenShift, a jointly managed and supported enterprise Kubernetes service on AWS. Amazon Red Hat OpenShift is a wholly managed service, which allows IT companies to fastly develop and implement applications in AWS on Red Hat’s powerful, enterprise Kubernetes platform, utilizing similar tools and APIs.
Acquisition and Mergers:
Dec-2020: IBM signed an agreement to acquire Nordcloud, a European leader in cloud implementation, application transformation, and managed services. This acquisition aims to advance IBM’s cloud migration and transformation capabilities, a crucial aspect of its hybrid cloud platform growth strategy.
Dec-2020: IBM acquired Expertus Technologies, a Montreal-based fintech company. The acquisition aimed to strengthen IBM’s portfolio as an end-to-end digital payments solution provider and further improve IBM’s hybrid cloud & AI strategy.
Aug-2020: Google completed the acquisition of StratoZone, a cloud infrastructure management solutions provider. This acquisition focused on helping partners and customers plan & automate data center transformation to Google Cloud Platform.
May-2020: VMware announced the acquisition of Kubernetes security firm Octarine. This acquisition built Octarine’s innovation into the VMware security portfolio and give many major opportunities for the VMware team to further streamline and enhance security for their customers.
Jul-2019: IBM took over Red Hat, an American multinational software company. Under this acquisition, Red Hat’s open hybrid cloud technologies were coupled with the unique scale and depth of IBM’s innovation & expertise, and sales leadership in more than 175 nations. The companies together aimed to boost innovation by providing a next-generation hybrid multi-cloud platform.
Jun-2019: Siemens came into an agreement to acquire assets of ESTEQ, a cybersecurity company. This acquisition would integrate ESTEQ’s knowledge and Siemens expertise to make it easier for manufacturing companies to tap into Siemens’ full software portfolio.
Jan-2019: AWS took over CloudEndure, an Israeli-based company. The acquisition helped AWS deliver improved and advanced migration, backup, and DR solutions to users.
Product Launches and Product Expansions:
Apr-2021: IBM launched the industry’s first financial services-ready cloud platform, IBM Cloud for Financial Services. It includes the support for Red Hat OpenShift and other cloud-native services. IBM Cloud for Financial Services is developed to assist to minimize the risk for financial institutions, their partners & FinTechs, and advance faster with built-in controls, which are performed by the whole ecosystem.
Apr-2021: Salesforce released the next generation of Service Cloud. It is a technology to complement the dynamic user service expectations and offer connected, customized service from any place on one digital engagement platform.
Feb-2021: Microsoft India introduced Azure Stack HCI, a new hyper-converged infrastructure (HCI). This launch enables users to effortlessly adopt a multi-cloud, multi-edge hybrid approach. It offers companies with effortless access to Microsoft Azure for hybrid cloud scenarios over remote offices, data centers, cloud, and edge locations.
Dec-2020: Microsoft introduced the latest data governance solution in public preview on its cloud platform called Azure Purview. This launch automates the discovery of data and cataloging and also reduces compliance risk and assists users to map all their information regardless of where it resides, to offer an end-to-end view of their data estate.
Dec-2020: Salesforce unveiled Salesforce Hyperforce. It is a reimagination of the company’s platform architecture developed to safely and reliably provide the Salesforce Customer 360 that includes Service Cloud, Sales Cloud, Commerce Cloud, Marketing Cloud, Industries, and more, on key public clouds.
Dec-2020: Salesforce launched Service Cloud Workforce Engagement, a new dynamic workforce planning product. This launch aims to help service leaders manage their whole workforce from any place and distribute the right work to the right agents based on the skills and service channel.
Sep-2020: Salesforce introduced Digital 360. It brings together major components and the latest innovations in the Salesforce Customer 360 platform to assist digital leaders to change their customer engagement and boost the growth in the all-digital, work from any place in the world. Digital 360 is developed stronger with expert services, a wide partner ecosystem, and also new learning resources on Trailhead.
Sep-2020: Oracle introduced new cloud services, Oracle data safe, Oracle cloud guard, and Oracle maximum security zones. These services offer centralized security configuration and also automated enforcement of security practices. They are designed to help in safeguarding cloud workloads and data from risks by cyber threats.
Mar-2020: Siemens unveiled the teamplay digital health platform. This launch paved the way for the transformation of healthcare providers and facilitate easy access to solutions for clinical, operational, and shared decision support.
Scope of the Study
Market Segments covered in the Report:
• Application PaaS (aPaaS)
• Integration PaaS (iPaaS)
• Database PaaS (dbPaaS)
• Public Cloud
• Private Cloud
• Hybrid Cloud
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
By Industry Vertical
• IT & Telecom
• Retail & eCommerce
• Government & Defense
• Energy & Utilities
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Amazon.com, Inc.
• Microsoft Corporation
• IBM Corporation
• Salesforce.com, Inc.
• Google, Inc.
• Oracle Corporation
• SAP SE
• Siemens AG
• Dell Technologies, Inc. (VMware, Inc.)
• Zoho Corporation Pvt. Ltd.
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