Platform as a Service - ASEAN

ASEAN

Revenue in the Platform as a Service market is projected to reach US$5.13bn 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 19.38%, resulting in a market volume of US$12.44bn 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 Public Cloud Market in ASEAN nan is seeing a surge in growth, fueled by the rising popularity of Platform as a Service (PaaS) offerings. Factors such as increased adoption of digital technologies, growing health awareness, and the convenience of online health services are driving this elevated growth rate.

Customer preferences: The Platform as a Service Market within the Public Cloud Market in ASEAN has witnessed a growing preference for cloud-based solutions, as organizations increasingly prioritize flexibility and scalability. This trend is further bolstered by the region's high mobile adoption rates and growing digital economy, which have fueled demand for mobile-friendly cloud platforms. Moreover, the rise of remote work and collaboration has accelerated the adoption of cloud-based services, leading to a spike in demand for PaaS solutions that enable seamless integration and collaboration across different devices and locations.

Trends in the market: In ASEAN, there is a growing trend of using Platform as a Service (PaaS) within the Public Cloud Market to support the development, testing, and deployment of applications. This is driven by the increasing adoption of cloud-based solutions and the need for agile and cost-effective software development. PaaS offers a scalable and flexible environment for developers to collaborate and create applications, leading to faster time-to-market and improved efficiency. This trend is significant as it enables organizations to accelerate their digital transformation and stay competitive in the rapidly evolving market. It also presents opportunities for PaaS providers to expand their market presence and offerings in the region. However, it may also pose challenges for traditional software vendors, as they may need to shift their business models to adapt to the changing market landscape.

Local special circumstances: In ASEAN, the Platform as a Service Market within the Public Cloud Market is influenced by the region's diverse landscape and cultural differences. For instance, countries like Indonesia and Vietnam have large rural populations with limited access to technology, leading to slower adoption of platform-based services. In contrast, Singapore and Malaysia have a higher internet penetration rate and strong government support for digital transformation, resulting in a more mature PaaS market. Additionally, varying regulatory frameworks and data privacy laws across ASEAN countries can also impact the growth and adoption of PaaS solutions.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in ASEAN is strongly influenced by macroeconomic factors such as technological advancements, government policies and investments, and overall economic health. Countries with favorable regulatory environments and strong investments in cloud technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of digital transformation in various industries and the growing demand for cost-effective IT solutions are driving the demand for Platform as a Service within the Public Cloud Market in ASEAN.

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.