Platform as a Service - Armenia | Statista Market Forecast

Revenue in the Platform as a Service market is projected to reach US$23.88m in 2024.
0.0 dominates the market with a projected market volume of 0.0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.78%, resulting in a market volume of US$61.40m by 2029.
In global comparison, most revenue will be generated United States (US$91.02bn in 2024).

Definition:

Platform as a Service (PaaS) refers to the type of public cloud service that provides a ready-to-use platform and environment for developers to build, deploy, and manage applications. PaaS offers tools, frameworks, and services that streamline the development process, thus eliminating the need to manage the underlying infrastructure. It allows developers to focus on the tasks of writing code and creating applications without worrying about server setup or maintenance. The PaaS market includes the companies that provide these types of public cloud resources and services to individuals, businesses, and organizations. A typical example of this type of service is Google App Engine.

Additional Information:

The Platform as a Service (PaaS) market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the PaaS market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (App Engine), and IBM (Cloud).

For more information on the data displayed, use the info button right next to the boxes.

Application development, such as Microsoft Azure App Service, Google App Engine, and AWS Elastic Beanstalk
Debugging processes, such as Microsoft Azure Monitor and AWS X-Ray
Testing, such as Google Cloud Flood, Distributed Load Testing on AWS, and Microsoft Azure Load Testing
Deployment tools, such as Microsoft Azure Deployment Environments and AWS CodeDeploy

Infrastructure-as-a-Service (IaaS), such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, Google Compute Engine (GCE), Alibaba Cloud ECS, and Oracle Cloud Infrastructure
Software-as-a-Service (SaaS), such as Microsoft 365, Salesforce, Google Workspace, and Zoom
Business-Process-as-a-Service (BPaaS), such as payroll management and accounting solutions via ADP Workforce Now, Intuit QuickBooks Online, Workday, and Oracle NetSuite

The Platform as a Service Market in the Public Cloud Market in Armenia is experiencing elevated growth due to the increasing adoption of digital technologies, growing health awareness, and the convenience of online health services. This high growth rate is mainly driven by the increasing demand for efficient and cost-effective cloud solutions in the country.

Customer preferences: As the adoption of cloud technology continues to grow in Armenia, there is an increasing trend towards utilizing Platform as a Service (PaaS) solutions within the Public Cloud Market. This is driven by a desire for flexibility and scalability in software development, as well as cost savings. Additionally, there is a shift towards prioritizing data security and privacy, leading to a surge in demand for PaaS solutions that offer robust security features. This is also influenced by the cultural value placed on protecting personal and sensitive information.

Trends in the market: In Armenia, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for low-code and no-code application development platforms. This trend is driven by the need for faster and more efficient software development processes, as well as the growing popularity of cloud-based solutions. Additionally, there is an increasing adoption of Platform as a Service among small and medium enterprises, as it offers cost-effective and scalable solutions. This trend is expected to continue, with potential implications including increased competition among PaaS providers and a shift towards more agile and flexible business models.

Local special circumstances: In Armenia, the Platform as a Service Market within the Public Cloud Market is driven by the country's strong IT infrastructure and growing tech-savvy population. The government's efforts to promote digital transformation and attract foreign investments have also played a significant role in the market's growth. Additionally, Armenia's geographical location and cultural ties to Europe have made it an attractive market for European companies looking to expand their cloud services. However, the market is also facing challenges due to the country's limited internet connectivity and regulatory barriers, which may hinder its potential for further growth.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in Armenia is significantly affected by macroeconomic factors such as technological advancements, government policies, and overall economic stability. With the government's efforts to promote digital transformation and create a favorable business environment, the demand for cloud-based services, including Platform as a Service, is on the rise. Moreover, the country's growing economy and stable fiscal policies are attracting foreign investments, leading to the expansion of the public cloud market. Additionally, the increasing adoption of digital solutions by various industries, such as healthcare, education, and finance, is expected to drive the growth of the Platform as a Service Market in Armenia.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.