Global Platform as a Service Market Research Report- Forecast 2027, Global Trends, Size, Share, COVID – 19 Outbreak, Industry Segments, Regional Study, Top Key Players Profiles and Future Prospects
                     Global Platform as a Service Market Research Report- Forecast 2027, 
Global Trends, Size, Share, COVID – 19 Outbreak, Industry Segments, 
Regional Study, Top Key Players Profiles and Future Prospects
Market Research Future (MRFR)’s latest study reveals that the global 
platform as a service market is projected to grow saliently at a CAGR of 26% 
during the forecast period 2020 to 2027. The market is expected to reach a value 
over USD 12 Bn by the end of the assessment period.
Market Insights
The platform as a service market is predicted to touch USD 12 billion at a healthy 26% CAGR 
between 2020-2027, states the recent Market Research Future (MRFR) analysis. Platform as a 
service/ PaaS, simply put, is a cloud service delivery model where third-party cloud service providers 
offer software and hardware tools to people in need of complete deployment and development of 
applications online. Such services offer a platform that enables customers in developing, running, 
and managing services sans dealing with complex building & maintenance of infrastructure to create 
an app. Hybrid cloud, private, and the public are its different deployment that is widely used in 
telecommunication and IT, consumer goods and retail, education, healthcare, and life sciences, 
government and public sector, banking and financial sector, and others. 
 
Various factors are propelling the global paas market share. According to the recent MRFR report, 
such factors include the growing adoption of cloud based services & IoT technology among small 
and medium enterprises, burgeoning demand of application development platforms, & technological 
advances in the platform as a service. Besides, the growing demand for platform as a service during 
the COVID-19 pandemic is also adding market growth. 
 
On the contrary, customer captivity, limited flexibility, and data security are factors that may limit the 
global platform as a service market growth over the forecast period. 
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global platform as a 
service market based on industry, end user, type, and deployment. 
 
By deployment, the global platform as a service market is segmented into hybrid cloud, 
private, and public. 
 
By type, the global platform as a service market is segmented into data management, 
integration, application, and others. 
 
By end user, the global platform as a service market is segmented into SMES and 
others. 
 
By industry, the global platform as a service market is segmented telecommunication 
and IT, consumer goods and retail, education, healthcare and life sciences, government 
and public sector, banking and financial sector, and others. 
Regional Analysis
Based on the region, the global platform as a service market report covers the growth opportunities 
and recent trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the 
World (RoW). Of these, North America will spearhead the market over the forecast period. The 
growing use of cloud-based services by different businesses and enterprises, the presence of 
highly digitalized enterprises, and the presence of leading cloud service providers are adding to the 
global platform as a service market growth in the region. 
 
In the APAC region, the platform as a service market is predicted to grow at a fast pace over the 
forecast period. High growth in IT sectors, telecom, big data, and cloud services, the booming IT 
infrastructure, developing corporate sector in China, India, Philippines, and Japan, supportive 
investments by the government to propel the IT industry, and increasing digitalization in different 
sectors. Besides, its operational efficiency, support, agility, scalability, and cost-effective pricing, 
and the presence of several leading manufacturers are also adding market growth. 
 
The platform as a service market in Europe is predicted to have notable growth over the forecast 
period. The growing use of cloud services by several VSMs and SMEs at the application level with 
the higher enterprise is adding to the global platform as a service market growth in the region.
 
Competitive Dashboard
Leading contenders profiled in the global platform as a service market report 
include Red Hat, Inc. (U.S.), Fujitsu Ltd. (Japan), Engine Yard, Inc. (U.S.), Oracle 
Corporation (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), 
Amazon.com, Inc. (U.S.), Google, Inc.(U.S.), Apprenda Inc. (U.S.), and 
Salesforce.com (U.S.).  
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About Market Research Future
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