PaaS Market.docx

1. Global PaaS Market
The Global Platform as a Service (PaaS) Market was valued at USD 67.12 Billion in 2021, and it is
expectedtoreacha value ofUSD 241.92 Billionby2028, at a CAGRof35.3% overthe forecastperiod
(2022-2028).
Platform-as-a-Service (PaaS) is a category of cloud computing services that offers a comprehensive
collection of cloud-based application infrastructure and middleware (AIM) services. On its
infrastructure,aPaaS providerhostshardware and software.Asa result,PaaS eliminatesdevelopers
of the needtoinstall on-premiseshardware andsoftware to develop or execute a new application.
Platform-as-a-service (PaaS) reduces costs and improves operational efficiency for companies and
developers by delivering templates and app development tools as a utility, allowing for simple and
inventive application development and delivery. Increased enterprise engagement at the appliance
level, fueledby rising mobile penetration,is expectedto fuel PaaS growth in the region.Many large
cloud providershave enteredthe PaaSarea inrecent years,indicatingthe growingpopularityof the
service.
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2. Top Players Company Profiles
 AWS (US)
 Microsoft (US)
 Alibaba Cloud (China)
 IBM (US)
 Salesforce (US)
 Google (US)
 Oracle (US)
 SAP (Germany)
 Mendix (US)
 Zoho Corporation (India)
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Global PaaS Market Dynamics
Driver
 Companies'technologylandscapesare evolvingatanalarmingrate,includinghow
infrastructure isconstructedandmaintained,aswell ashow software applicationsare
producedanddistributed.Time to Market(TTM) isthe time it takesa companyto offera
productor feature;itisan importantaspectindetermininganorganization'sperformance,
alongwiththe developmentcostof itsproducts.Itis easiertointroduce aproduct whenyou
have more control overthe developmentprocess.Almostall businessesvalue TTMand
strive toenhance it,however,the majorityof businessesfailtoachieve the requiredTTM
due to inefficienciesinthe whole digital landscape.
 The keyto empoweringdevelopersandimprovingcustomerengagementandexperiencesis
digital transformation.Companieswanttolaunchthe productas quicklyaspossible because
it isprojectedthatthe firstsoftware producttohit the marketwouldcapture upto 70% of
the marketshare.Companieswill incurfinancial damagesif theirTTMtargets are not met.It
has beendiscoveredthatintroducingaproductsix monthslatertothe marketresultsina
33% decrease inprofitoverfive years.Onthe otherhand,if a productislaunchedontime
but is50% overbudget,the profitwill be loweredbyabout4%.
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