Platform as a Service - APAC

APAC

Revenue in the Platform as a Service market is projected to reach US$22.80bn 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 18.97%, resulting in a market volume of US$54.35bn 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

Region

Region comparison

Currency

Analyst Opinion

The Platform as a Service Market in the Public Cloud Market in APAC is experiencing substantial growth, driven by factors such as increasing demand for digital solutions, growing awareness of health issues, and the convenience of online services. This growth is mainly influenced by the rising adoption of technology and the growing emphasis on improving healthcare access and efficiency in the region.

Customer preferences: As more businesses in APAC turn to the Public Cloud Market for their infrastructure needs, there is a growing preference for Platform as a Service solutions. This trend is driven by the region's emphasis on cost efficiency and scalability, as well as the increasing demand for digital transformation. Additionally, the cultural emphasis on speed and convenience has led to a rise in demand for PaaS offerings that enable faster deployment of applications and services. This has resulted in a shift towards more flexible and customizable cloud solutions, catering to the diverse needs of APAC consumers.

Trends in the market: In APAC, the Platform as a Service market within the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, as companies seek to balance cost-effectiveness and flexibility. This trend is driven by the increasing adoption of AI and IoT technologies, which require scalable and agile cloud infrastructure. This presents significant opportunities for industry stakeholders, but also poses challenges in terms of ensuring data security and compliance. As such, there is a growing focus on developing secure and compliant PaaS solutions, as well as providing comprehensive support and training for businesses transitioning to hybrid cloud environments.

Local special circumstances: In China, the Platform as a Service Market within the Public Cloud Market is thriving due to the government's push for digital transformation and the country's large population of tech-savvy consumers. The market is also heavily influenced by China's unique regulatory environment, with strict data privacy laws and restrictions on foreign cloud providers. Additionally, the country's rapidly expanding e-commerce sector has created a strong demand for PaaS solutions among businesses looking to optimize their online operations.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in APAC is largely influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with strong government support and investments in digital technologies are experiencing faster market growth, while those with regulatory challenges and limited funding may face obstacles. Moreover, the increasing adoption of cloud technologies and the rise of digital transformation initiatives in various industries are contributing to the demand for PaaS solutions in the region. Additionally, the fast-growing digital economy in APAC, driven by a large population and increasing internet penetration, is also fueling the growth of the PaaS market in the public cloud sector.

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.