LONDON--(BUSINESS WIRE)--The global platform-as-a-service (PaaS) market is expected to grow by USD 28.4 billion during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The PaaS model provides software development tools, APIs, and codes to help organizations streamline their operations. It also ensures effective utilization of infrastructure and eliminates unnecessary human configuration tasks by providing self-service interfaces. Moreover, as PaaS is supported by cloud-based service vendors, enterprises are not required to set up and maintain the servers. Owing to many such benefits, organizations are increasingly adopting PaaS to streamline their operations. This is one of the key factors driving the growth of the PaaS market.
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As per Technavio, the emergence of video communication PaaS will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Platform-as-a-Service (PaaS) Market: Emergence of Video Communication PaaS
Companies are increasingly leveraging video communication platforms to strengthen their relationship with customers. This has increased the use of video communication PaaS across sectors such as business, media, education, and healthcare. It enables developers to include various attributes right from real-time video communication features to cloud computing which enables communication with various customers without the need for back-end infrastructure or interfaces.
“Rapid development of mobile app ecosystem and the emergence of xPaaS will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Platform-as-a-Service (PaaS) Market: Segmentation Analysis
This market report segments the global platform-as-a-service (PaaS) market by deployment (public cloud, private cloud, and hybrid cloud) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the increasing adoption of cloud computing services in the US. Additionally, the pay-as-you-go model offered by service providers in the region has influenced the adoption of PaaS solutions.
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 report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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