Platform as a Service (PaaS) Market worth $6.94 Billion by 2018

MarketsandMarkets has segmented the global PaaS market by types of solutions, Implementation models, Applications, End Users, and Industry. The solutions segment comprises of business application platforms, raw computing platforms, social application platforms and web application platforms. Based on the Implementation models PaaS market is segmented into three categories public cloud, private cloud and hybrid cloud. Application Development and Maintenance PaaS (ADM PaaS), Business Process Management PaaS (BPM PaaS), Application PaaS (aPaaS), Integration PaaS (iPaaS) and Other PaaS are the segments categorized based on Applications. Based on the End Users the PaaS market segmented as Enterprise PaaS and Small and Medium size Business (SMB) PaaS. Also the PaaS market is categorized based on the industry segments such as Banking & Financial Sector (BFSI), Consumer Goods & Retail, Education, Gaming, Healthcare, Logistics & Transportation, Public Sector & Government, Telecommunications & IT, Travel & Hospitality and Others.

Each of these sub-segments is further bifurcated by geographies. The geographies covered are North America (NA), Europe, Asia-Pacific including Japan (APAC), Middle East & Africa (MEA), and Latin America (LA).

The major forces driving the PaaS market are the key factors in application development process such as agility, scalability, limited need for expertise, easy deployment, and reduced cost and development time.

PaaS has been the smallest market among the cloud computing segments. But now the trend is experiencing a drift where PaaS market is growing faster in terms of revenue. Though PaaS market is not as huge as IaaS and SaaS which are the other two segments in cloud computing, the proportion of this market is very significant. This trend has been adopted by most of the traditional cloud computing and IT solution providers in the market like Amazon, Google, IBM etc. Also many small players specializing in providing PaaS solutions have emerged and made the market so dynamic and competitive. This trend has benefited most of the application users and has increased the demand for PaaS on various sectors.

The global PaaS market is estimated to grow from $1.28 billion in 2013 to $6.94 billion in 2018 at a compound annual growth rate (CAGR) of 32.54% in this period. In terms of geographies, North America continues to be the biggest market for PaaS solutions.
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