Platform as a Service Market

Posted by Monali Raghuwanshi on July 29th, 2019

The global platform as a service (PaaS) market is predicted in a report by Transparency Market Research (TMR) to find players using the business tactic of reducing annual subscription fees to gain traction. Another tactic that could be adopted in the market is focusing on Asia Pacific and the Rest of the World where PaaS solutions are used at a rising rate. Such developing and cost-sensitive geographies of the market are expected to create strong growth opportunities in the near future. The market includes some of the top players of the industry such as Oracle, Software AG, and Red Hat.

TMR envisages the global PaaS market to reach a US.98 bn valuation by the end of 2020. By type of implementation, the segment of public cloud could dominate the market in the coming years. By region, North America is foreseen to take the lead in terms of growth.

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PaaS Improves Adoption among End Users with OPEX and CAPEX Advantages

The global PaaS market is envisioned to increase growth on the back of the advantage of low capital investment because of the nature of the service model. PaaS cancels the need for provisioning hosting capabilities for the deployment of applications. As a result, it helps to save costs related to the purchase and management of required software and hardware products. Additional cost of upgrading systems to match up with increase in service usage could also be reduced with the help of PaaS. On the other hand, PaaS helps with lifecycle management, automated deployment, and resource sharing and reusing.

Lack of Awareness Leading to Sluggish Adoption in SMEs Slams down Growth

SMEs are observed to adopt PaaS at a slow rate due to lack of awareness. While this could negatively impact the growth of the global PaaS market, there are other factors that may prove damaging. For instance, high market fragmentation at the regional level could challenge players operating in the market. However, the advent of OpenPaaS and business process as a service (BPaaS) is anticipated to set the tone for significant growth in the market. Besides this, opportunities in the infrastructure as a service (IaaS) market could be tapped into through increasing application of PaaS.

PaaS’ high efficiency and pay-per-use features are projected to produce rewarding prospects in the market. Attractive advantages such as ease of deployment, scalability, agility, and flexibility could draw more number of consumers in the foreseeable future.