LONDON--(BUSINESS WIRE)--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).
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.
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Some of the key topics covered in the global platform-as-a-service (PaaS) market analysis include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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