Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- The "Platform as a Service (PaaS) Market by Type (APaaS, IPaaS, DBPaaS), Deployment (Public and Private), Organization Size (Large Enterprises and SMEs), Vertical (Consumer Goods and Retail, BFSI, Manufacturing), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global PaaS market size is estimated to grow from USD 56.2 billion in 2020 to USD 164.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period.
Key factors that are expected to drive the growth of the market are the increasing need to reduce time to market and cost of application development and focus on streamlining application management. However, cloud washing hindering the growth of PaaS, and security concerns related to the adoption of public cloud are expected to limit the market growth. Apart from drivers and restraints, there are a few lucrative opportunities for PaaS providers in the market. The rapid development of the mobile app ecosystem and the emergence of video communication PaaS are some of the opportunities for vendors in the PaaS market. These opportunities are expected to present new market growth prospects for PaaS vendors.
The other PaaS type is expected to grow at a higher CAGR during the forecast period
Other PaaS types include Business Analytics (baPaaS) and API management PaaS (APImPaaS). baPaaS offers analytical capabilities and tools as a service for visualization data discovery and predictive modeling. BI and analytics are data management solutions that are implemented in organizations to collect historical and present data, while using statistics and software to analyze raw information and deliver insights for making better future decisions. BI is the process of collecting, storing, and analyzing data from business operations. It further provides comprehensive business metrics, in near-real-time, to support better decision-making. The BI software offers several benefits, including powerful reporting and data analytics capabilities. BI's data visualization mechanisms, such as real-time dashboards, helps generate readable reports that contain relevant and actionable data.
BFSI industry vertical to hold the highest market share in 2020
BFSI institutions are facing challenges due to the changing business environment. The advent of advanced technologies is expected to play a crucial role in the growth of the BFSI vertical. Digital technologies have enabled banking customers to access real-time banking and financial information services on any device. Financial crisis, changing customer behavior, increased risk awareness, focus on cost reduction, and the entry of new financial players are some of the factors behind the changing landscape in the BFSI vertical. The BFSI vertical is adopting digitalization initiatives at a rapid pace to meet the rising customer expectations and sustain the highly competitive market. Cloud-based applications help vendors efficiently meet IT needs, while saving CAPEX and OPEX.
APAC to grow at the highest CAGR during the forecast period
The PaaS market in APAC is driven by the increased use of smartphones and various mobile applications. One of the major reasons for the increase in smartphone penetration in APAC is the growing demand for low-cost smartphones (<USD 200). Thus, the rising use of smartphones is supporting the development of new applications. To develop these applications easily and at high speed, application development companies are using PaaS solutions and services as they provide data agility, enterprise cloud services, support for any device, declarative app-building tools, flexibility, and scalability.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Paas Market
4.2 North America: Paas Market, by Vertical and Country
4.3 Asia-Pacific: Paas Market, by Component and Country
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need to Reduce Time and Cost of Application Development
5.2.1.2 Focus on Streamlining Am
5.2.2 Restraints
5.2.2.1 Cloud Washing Hinders the Paas Market Growth
5.2.2.2 Security Concerns Related to Public Cloud
5.2.3 Opportunities
5.2.3.1 Rapid Development of Mobile App Ecosystem
5.2.3.2 Emergence of Video Communication Paas
5.2.4 Challenges
5.2.4.1 Vendor Lock-In Issues
5.3 Patent Analysis
5.4 Porter's Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 Regulatory Landscape
5.5.1 General Data Protection Regulation
5.5.2 Payment Card Industry-Data Security Standard
5.5.3 Health Insurance Portability and Accountability Act
5.5.4 Gramm-Leach-Bliley Act
5.5.5 Sarbanes-Oxley Act
5.5.6 Soc2
5.6 Industry Trends
5.6.1 Case Study Analysis
5.6.1.1 Use Case 1: Consumer Goods and Retail
5.6.1.2 Use Case 2: Media and Entertainment
5.6.1.3 Use Case 3: Bfsi
5.6.1.4 Use Case 4: Information Technology
5.6.1.5 Use Case 5: Healthcare
5.7 Pricing Analysis
5.8 Value Chain Analysis
5.9 Technology Analysis
5.9.1 Blockchain
5.9.2 Machine Learning
5.9.3 Internet of Things
5.9.4 Augmented Reality
5.9.5 Artificial Intelligence
5.10 Platform as a Service Market: COVID-19 Impact
5.10.1 COVID-19 Impact on Paas Market: Assumptions
5.10.2 Drivers and Opportunities
5.10.3 Restraints and Challenges
6 Paas Market, by Type
6.1 Introduction
6.1.1 Type: Platform as a Service Market Drivers
6.1.2 Type: COVID-19 Impact
6.2 Application Platform as a Service
6.3 Infrastructure Platform as a Service
6.4 Database Platform as a Service
6.5 Others
7 Platform as a Service Market, by Deployment
7.1 Introduction
7.1.1 Deployment: Paas Market Drivers
7.1.2 Deployment: COVID-19 Impact
7.2 Public
7.3 Private
8 Platform as a Service Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Paas Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Platform as a Service Market, by Vertical
9.1 Introduction
9.1.1 Vertical: Paas Market Drivers
9.1.2 Vertical: COVID-19 Impact
9.2 Banking, Financial Services, and Insurance
9.3 Consumer Goods and Retail
9.4 Information Technology and Information Technology-Enabled Services
9.5 Telecommunications
9.6 Manufacturing
9.7 Healthcare and Life Sciences
9.8 Energy and Utility
9.9 Other Verticals
10 Platform as a Service Market, by Region
10.1 Introduction
10.2 North America
10.2.1 North America: Paas Market Drivers
10.2.2 North America: COVID-19 Impact
10.2.3 North America: Regulatory Landscape
10.2.4 United States
10.2.5 Canada
10.3 Europe
10.3.1 Europe: Platform as a Service Market Drivers
10.3.2 Europe: COVID-19 Impact
10.3.3 Europe: Regulatory Landscape
10.3.4 United Kingdom
10.3.5 Germany
10.3.6 France
10.3.7 Rest of Western Europe
10.3.8 Central and Eastern Europe
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Paas Market Drivers
10.4.2 Asia-Pacific: COVID-19 Impact
10.4.3 Asia-Pacific: Regulatory Landscape
10.4.4 China
10.4.5 Japan
10.4.6 Rest of Asia-Pacific
10.5 Middle East and Africa
10.5.1 Middle East and Africa: Platform as a Service Market Drivers
10.5.2 Middle East and Africa: COVID-19 Impact
10.5.3 Middle East and Africa: Regulatory Landscape
10.5.4 Kingdom of Saudi Arabia
10.5.5 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Latin America: Paas Market Drivers
10.6.2 Latin America: COVID-19 Impact
10.6.3 Latin America: Regulatory Landscape
10.6.4 Brazil
10.6.5 Mexico
10.6.6 Rest of Latin America
11 Competitive Landscape
11.1 Market Evaluation Framework
11.2 Market Ranking
11.3 Market Share Analysis
11.4 Historical Revenue Analysis of Leading Players
11.5 Key Market Developments
11.5.1 New Product Launches
11.5.2 Deals
11.5.3 Others
11.6 Company Evaluation Matrix
11.6.1 Star
11.6.2 Emerging Leaders
11.6.3 Pervasive
11.6.4 Participants
11.7 Startup/SME Evaluation Matrix, 2020
11.7.1 Responsive Companies
11.7.2 Progressive Companies
11.7.3 Dynamic Companies
11.7.4 Starting Blocks
12 Company Profiles
12.1 Introduction
12.2 Aws
12.2.1 Business Overview
12.2.2 Products Offered
12.2.3 Recent Developments
12.2.4 Aws: COVID-19 Developments
12.2.5 Analyst's View
12.2.5.1 Key Strengths
12.2.5.2 Strategic Choices Made
12.2.5.3 Weaknesses and Competitive Threats
12.3 Microsoft
12.3.1 Business Overview
12.3.2 Platforms Offered
12.3.3 Recent Developments
12.3.4 Microsoft: COVID-19 Developments
12.3.5 Analyst's View
12.3.5.1 Key Strengths
12.3.5.2 Strategic Choices Made
12.3.5.3 Weaknesses and Competitive Threats
12.4 Alibaba Cloud
12.4.1 Business Overview
12.4.2 Services Offered
12.4.3 Recent Developments
12.4.4 Alibaba Cloud: COVID-19 Developments
12.4.5 Analyst's View
12.4.5.1 Key Strengths
12.4.5.2 Strategic Choices Made
12.4.5.3 Weaknesses and Competitive Threats
12.5 IBM
12.5.1 Business Overview
12.5.2 Products Offered
12.5.3 Recent Developments
12.5.4 IBM: COVID-19 Developments
12.5.5 Analyst's View
12.5.5.1 Key Strengths
12.5.5.2 Strategic Choices Made
12.5.5.3 Weaknesses and Competitive Threats
12.6 Salesforce
12.6.1 Business Overview
12.6.2 Services Offered
12.6.3 Recent Developments
12.6.4 Salesforce: COVID-19 Developments
12.6.5 Analyst's View
12.6.5.1 Key Strengths
12.6.5.2 Strategic Choices Made
12.6.5.3 Weaknesses and Competitive Threats
12.7 Google
12.7.1 Business Overview
12.7.2 Products Offered
12.7.3 Recent Developments
12.7.4 Google: COVID-19 Developments
12.7.5 Analyst's View
12.7.5.1 Key Strengths
12.7.5.2 Strategic Choices Made
12.7.5.3 Weaknesses and Competitive Threats
12.8 Oracle
12.8.1 Business Overview
12.8.2 Products Offered
12.8.3 Recent Developments
12.9 SAP
12.9.1 Business Overview
12.9.2 Services Offered
12.9.3 Recent Developments
12.10 Mendix
12.10.1 Business Overview
12.10.2 Services Offered
12.10.3 Recent Developments
12.11 Zoho Corporation
12.11.1 Business Overview
12.11.2 Products Offered
12.11.3 Recent Developments
12.12 Engine Yard
12.12.1 Business Overview
12.12.2 Products Offered
12.13 Apprenda
12.14 Vmware
12.15 Servicenow
12.16 Plesk
12.17 Render
12.18 Circleci
12.19 Tray.Io
12.20 Cloud 66
12.21 Appharbor
12.22 Jelastic
12.23 Platform.sh
12.24 Scalingo
12.25 Pythonanywhere
13 Adjacent and Related Markets
13.1 Introduction
13.1.1 Related Markets
13.1.2 Limitations
13.2 Cloud Computing Market
13.2.1 Market Overview
13.2.2 Market Size and Forecast by Service Model
13.2.3 Geographic Analysis
14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details
For more information about this report visit https://www.researchandmarkets.com/r/emy8io