Platform as a Service Market Share

North American Market Forecast   

The North American platform as a service (PaaS) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the increasing budget allocation for cloud services among enterprises among different industries including, telecommunication, BFSI, IT, and government and public sectors. In 2019, more than 85% of the cloud experts in the United States stated that cloud is anticipated to revolutionize the banking sector in the country by the end of 2021 by lowering the overall bank costs.  Moreover, around 94% of American businesses use at least one cloud, such as public cloud, private cloud, and hybrid, with hybrid being the most common option.

APAC Market Statistics

The Asia Pacific platform as a service (PaaS) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The market growth in the region is expected on the account of rise in the number of enterprises in the region and increasing use of cloud services. Over 15,000 new business of business service industry was registered in 2022. The sector surpassed all the sector, moreover, manufacturing sector came in second over the examined time period, with over 3000 businesses. Furthermore, growing digital transformation is also expected to boost the market growth. According to the International Trade Administration, the use of cloud services by both central and local government offices is encouraged by the Government of Japan's Digital Agency. For instance, Digital Agency declared in October 2022 that agencies under the Government of Japan will use "Government Cloud" services throughout the fiscal year.