The global PaaS Market size is expected 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. PaaS solutions and services enable the development, execution, and management of applications without having to build and maintain infrastructure, platform, or hardware. A PaaS can be considered as an application software platform is provided by another party. It enables non-developers to create web applications through features, such as point and click and built-in Application Programming Interface (APIs).
Application PaaS segment to hold a larger market size during the forecast period
aPaaS is a service that provides deployment and development environments for application services. The aPaaS allows businesses and IT teams to effectively collaborate and deliver new web and mobile applications faster so that organizations can innovate business practices, differentiate within the market, and streamline operational workflows. This cloud service offers numerous benefits, such as smooth integration of applications with other services, hassle-free application management without building and maintaining the infrastructure, and others. These benefits make aPaaS one of the preferred services among a wide range of end users. aPaaS enables rapid application development and delivery. This form provides high productivity and high control. The coding process for PaaS can slow down delivery, but aPaaS brings automation in the application lifecycle and also offers a fast way to build apps.
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SMEs segment to grow at the highest CAGR during the forecast period
SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. The majority of SMEs are prone to cyberattacks as compared to large enterprises due to the lack of security infrastructure. According to a survey, nearly 43% of cyberattacks occur in small enterprises. Hence, SMEs need robust infrastructure to fight against cyberattacks and avoid data loss and downtime. In comparison with the large enterprises segment, the SMEs segment is facing various challenges in terms of resources. SMEs focus on reducing the overall cost and adopt enhanced infrastructures. They require a flexible payment model for better cost optimization of their business processes.
The PaaS market comprises major providers, such as AWS (US), Microsoft (US), Alibaba Cloud (China), IBM (US), Salesforce (US), Google (US), Oracle (US), SAP (Germany), Mendix (US), Zoho Corporation (India), Engine Yard (US), Apprenda (US), VMware (US), ServiceNow (US), Plesk (Switzerland), Render (US), CircleCI (US), Tray.io (US), Cloud 66 (UK), AppHarbor (US), Jelastic (US), Platform.sh (France), Scalingo (France), PythonAnywhere (US), and Blazedpath (US). The study includes an in-depth competitive analysis of key players in the PaaS market with their company profiles, recent developments, COVID-19 developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, merger and acquisitions, have been the most dominating strategies adopted by the major players from 2018 to 2021, which helped them strengthen their offerings and broaden their customer base.
AWS was founded in 2006 and is headquartered in Washington, US. The company is a business unit of Amazon.com. It provides a diverse range of cloud computing services, making it easier for customers to receive tailored services as per their business requirements. AWS cloud product offerings include networking and content delivery, compute, and storage. It offers highly reliable, scalable, and low-cost IT infrastructure services on the cloud. It offers other products, such as database, deployment, management, application services, and analytics. Amazon Elastic Beanstalk gives users an easy way to deploy and provision cloud-based resources that automate setting up applications on AWS. The user just has to upload their applications, and everything from load balancing, provisioning, application health monitoring, and auto-scaling will be handled by Amazon Elastic BeanStalk.
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IBM is a leading multinational company that develops hardware and software technologies for computer systems and provides consulting services. The company was founded in 1911 and is headquartered in New York, US. The company is a leading provider of cognitive solutions that have AI capabilities for data and analytics. IBM offers IBM Cloud products categorized as IBM Bluemix PaaS, IBM Cloud IaaS, and IBM SaaS. These categories include products, such as compute, network, storage, management, security, and databases. Additionally, it innovates new platform models based on cloud computing; therefore, it has become a global leader in hybrid cloud enterprise solutions. It has a robust global presence in North America, Europe, MEA, Latin America, and APAC. IBM has robust partner relations with potential and leading market players, such as Infor, ADP, VMware, and Inversoft. The company caters to various verticals, including automotive, aerospace and defense, healthcare, government, insurance, retail, telecommunications, and media and entertainment.
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