Platform as a Service - Americas

Americas

Revenue in the Platform as a Service market is projected to reach US$100.10bn in 2024.
0 dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.32%, resulting in a market volume of US$222.50bn by 2029.
In global comparison, most revenue will be generated in the United States (US$91,020.00m in 2024).

Key regions: United States, Italy, Australia, Netherlands, Japan

Market

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Currency

Analyst Opinion

The Platform as a Service market in the Public Cloud Market in the Americas is experiencing substantial growth, driven by factors such as increasing adoption of cloud technologies, growing demand for efficient and cost-effective solutions, and the ease of access and scalability provided by PaaS services. This growth is being further accelerated by the rising trend of digital transformation among businesses and the increasing use of PaaS for development and deployment of applications.

Customer preferences: There has been a noticeable rise in demand for Platform as a Service (PaaS) solutions in the Public Cloud Market in the Americas, as organizations look to streamline and modernize their IT infrastructure. This trend can be attributed to the increasing reliance on digital technologies and the need for agile and scalable solutions. Additionally, the rise of remote work and the need for seamless collaboration has also fueled the adoption of PaaS solutions in the region.

Trends in the market: In the Americas, the Platform as a Service market within the Public Cloud Market is experiencing a surge in demand for low-code and no-code development platforms. This trend is driven by the need for faster and more efficient application development, as well as the increasing adoption of agile and DevOps methodologies. Furthermore, the rise of hybrid and multi-cloud environments is pushing organizations to embrace PaaS solutions that offer seamless integration and management across different cloud platforms. These developments are significant for industry stakeholders as they enable faster innovation, cost savings, and improved flexibility. However, they also pose challenges in terms of security, vendor lock-in, and skills shortage, which must be carefully addressed to fully realize the potential of PaaS in the public cloud market.

Local special circumstances: In the Americas, the Platform as a Service Market within the Public Cloud Market is influenced by factors such as government regulations, cultural preferences, and geographical constraints. For example, in Canada, the market is driven by the need for data privacy and security, while in Mexico, the focus is on cost-effective solutions for small and medium-sized businesses. In the United States, the market is heavily influenced by the dominance of tech giants and their impact on pricing and innovation. These diverse factors contribute to the unique dynamics of the market in the Americas.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with strong regulatory environments and robust investments in digital infrastructure are experiencing faster market growth compared to those with regulatory challenges and limited digital infrastructure funding. Furthermore, the increasing adoption of cloud technology in businesses and the rising demand for efficient and cost-effective solutions are driving the growth of the Platform as a Service Market within the Public Cloud Market in the Americas.

Methodology

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.