Platform as a Service Market Analysis

End-user (Healthcare, Manufacturing, BFSI, IT & Telecommunication, Consumer Goods & Retail) 

The global platform as a service (PaaS) market is segmented and analyzed for demand and supply by vertical into healthcare, manufacturing, BFSI, IT & telecommunication, consumer goods & retail, and others. Out of the six types of verticals, the manufacturing segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing demand for faster product delivery and heightened production in the manufacturing industry. Owing to the rising e-commerce the demand of the products is constantly increasing, along with this need of the manufacturing industry to reduce time to market duration. According to projections in a UNCTAD report, the share of online retail sales in total retail sales rose from 16% to 19% in 2020 as a result of the sharp increase in e-commerce combined with the movement restrictions brought on by COVID-19. Moreover, with the rise in the global retail sales, out of all the nations, the greatest share was reported by the Republic of Korea in 2020, at 25.9%, up from 20.8% the previous year.

Type (Application PaaS, Integration PaaS, Database PaaS)

The global platform as a service (PaaS) market is also segmented and analyzed for demand and supply by type into application PaaS, integration PaaS, database PaaS, and others. Amongst these four segments, the application PaaS (APaaS) segment is expected to garner a significant share. The growth of the segment can be expected on the back of increasing adoption of APaaS applications among various government organizations across the world. Moreover, the benefits of APaaS such as reduced coding time, added development capabilities without involving more staff, accessibility to support tools, support for geographically circulated teams, and efficient administration of application development lifecycle are also assessed to boost the growth of this market segment in the future.

Our in-depth analysis of the global market includes the following segments: