Platform as a service is an element of cloud computing that assists users to offer, handle, and execute computing tools along with other applications without any complexities. It helps users to pack, develop, and create software bundles. It works as a public infrastructure as a solution, private service, and cloud public solution. The major advantages offered by the platform as a service includes improved maintenance of the application, low complexity of high-level programming, and ramping up of cloud infrastructure.
The growing requirement to lower the marketing time along with the cost of application development is the major factor driving the growth of the global platform as a service (PaaS) market. Moreover, the growing need to streamline the application management to define the workflow in the organization further encourages the adoption of such services. The transforming technological landscape in organizations is significantly changing the way infrastructure is developed and maintained. Digital transformation is empowering developers and service providers to enhance customer experiences and engagement. Moreover, the growth of the mobile ecosystem at alarming rates is likely to steer the growth of the global market in the forthcoming years. Additionally, the new product launches along with the emergence of a cloud-native ecosystem are further expected to create lucrative growth opportunities in the market globally. The onset of the Covid-19 outbreak is expected to offer vigorous growth momentum to the market during the forecast period. The service providers are witnessing a significant rise in demand for a public cloud solution and cloud computing by organizations to boost their business profitability during the coronavirus crisis.
The global platform as a service (PaaS) market can be segmented into type, application, and region.
By type, the market can be segmented into hybrid, private, and public clouds.
By application, the market can be segmented into telecommunication & information technology, manufacturing, healthcare & life sciences, government & public sector, education, consumer goods & retail, media & entertainment, and others.
North America accounts for the largest share in the global platform as a service (PaaS) market due to the growing demand for such services by all-sized organizations in the region. Moreover, the growing use of machine-to-machine connectivity will significantly escalate the growth of the regional market in the forthcoming years.
Some of the significant players in the global platform as a service (PaaS) market are Blazed Path, PythonAnywhere, Scalingo, Platform.sh, Jelastic, AppHarbor, Cloud 66, Tray.io, CircleCI, Render, Plesk, ServiceNow, VMware, Apprenda, Engine Yard, Zoho Corporation, Mendix, SAP, Oracle, Google, Salesforce, IBM, Alibaba Cloud, and Microsoft. To cite, in May 2019, Appian partnered with Smartronix Inc. to deliver a low-code Appian platform to the department of defense (DoD) and federal government through the Microsoft Azure Government cloud platform.