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Oct 8, 2020 8:00 AM ET

Global Public Cloud Platform as a Service (PaaS) Market Set for Rapid Growth, to Reach around USD 9.12 Billion by 2021


iCrowd Newswire - Oct 8, 2020

With the presence of a large pool of participants, the global public cloud platform as a service (PaaS) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Google Inc., Amazon Web Services Inc., Microsoft Corporation, and IBM are some of the key vendors of public cloud platform as a service across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing services. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the public cloud platform as a service (PaaS) market study.

In a major impetus for public cloud platform as a service (PaaS) market, in August 2018, Dell EMC has enhanced its cloud platform capabilities, infrastructure services, and consumption model to assist end-users control multi-cloud strategies.

Get Free Sample Of Report – https://www.zionmarketresearch.com/sample/public-cloud-platform-as-a-service-market

Citing another instance, this month, C3 IoT and Google Cloud declared that they will join hands to steer the expansion of IoT & AI applications for enterprise digital transformation. The strategic move will help them offer the former’s comprehensive platform as a service on Google’s Cloud platform. Analysts project that the partnership will help in rapid growth of big data, AI, predictive analytics, and IoT software applications for the end users. The initiative will massively impact global public cloud platform as service (PaaS) market revenue in the near future.

As estimated in this report, the global public cloud platform as a service (PaaS) market stood at US$ 2.11 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this public cloud platform as a service (PaaS) market is anticipated to reach US$ 9.12 billion by the end of the forecast period. The main services available in this public cloud platform as a service (PaaS) market are cloud application platforms, cloud data services, cloud application development & life-cycle services, cloud integration services, and other cloud platform services. Among these services, the demand for cloud application platform services is relatively higher and the trend is anticipated to remain so over the next few years, notes the public cloud platform as a service (PaaS) market research report.

Agility, Efficiency, Pay-Per-Use, And Scalability To Soar Market Growth

“The mounting requirement for effective service reducing the burden of end-users to deploy hardware as well software for running & developing a new application is likely to spur  growth of public cloud platform as a service (PaaS) market in the years ahead,” says the author of this study. Apart from this, beneficial features such as high scalability, agility, pay-per-use, and efficiency have generated greater demand for public cloud platform as a service across small, medium, and large enterprises.

High Popularity of PaaS Technology To Help North America Dominate Market

Regionally, North America has been leading the worldwide public cloud platform as a service (PaaS) market and is anticipated to continue on the dominant position in the years to come, states the public cloud platform as a service (PaaS) market study. For the record, North America contributed nearly 58.8% towards public cloud platform as a service (PaaS) market share in 2011. Rising acceptance of PaaS technologies in the U.S. and high spending on public cloud platform as a service in the region is the main factor behind the dominance of the North America’s public cloud platform as a service (PaaS) market dominance. The large number of market players being headquartered in North America is another significant factor that is supporting this regional public cloud platform as a service (PaaS) market.

The global public cloud platform as a service (PaaS) market is segmented as follows:

By Segment

By Region

To view TOC of this report – https://www.zionmarketresearch.com/toc/public-cloud-platform-as-a-service-market



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Keywords:    Global Public Cloud Platform as a Service Market

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