Platform as a Service - Belgium

Belgium

Revenue in the Platform as a Service market is projected to reach US$0.92bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.21%, resulting in a market volume of US$1.95bn by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$169.00 in 2024.
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

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Analyst Opinion

The Platform as a Service market in Belgium is experiencing significant growth and development due to several key factors.

Customer preferences: Belgian customers are increasingly turning to Platform as a Service (PaaS) solutions for their business needs. PaaS offers a range of benefits, including cost savings, scalability, and flexibility. Businesses in Belgium are attracted to the ability to access and manage their applications and data remotely, without the need for on-premises infrastructure. Additionally, PaaS allows for faster development and deployment of applications, which is particularly appealing to businesses in the fast-paced digital landscape of Belgium.

Trends in the market: One of the key trends in the PaaS market in Belgium is the increasing adoption of cloud-native technologies. As businesses in Belgium look to modernize their IT infrastructure and embrace digital transformation, they are turning to PaaS solutions that are specifically designed for cloud-native development. These solutions provide developers with the tools and frameworks they need to build and deploy applications in a cloud-native environment, enabling greater agility and innovation. Another trend in the PaaS market in Belgium is the growing demand for multi-cloud and hybrid cloud solutions. Businesses are seeking the flexibility to deploy their applications across multiple cloud providers or combine public and private cloud environments. This trend is driven by the desire to avoid vendor lock-in and take advantage of the unique capabilities and pricing models offered by different cloud providers.

Local special circumstances: Belgium has a highly skilled workforce and a strong focus on technology and innovation. This has created a favorable environment for the growth of the PaaS market. Belgian businesses are eager to adopt new technologies and leverage PaaS solutions to drive innovation and gain a competitive edge. Additionally, Belgium has a well-developed digital infrastructure, including high-speed internet connectivity and data centers, which further supports the adoption of PaaS solutions.

Underlying macroeconomic factors: The growth of the PaaS market in Belgium is also influenced by macroeconomic factors. Belgium has a stable economy and a favorable business environment, which encourages investment in technology and digital transformation. The government has implemented policies to promote entrepreneurship and innovation, providing incentives for businesses to adopt PaaS solutions. Furthermore, the increasing digitization of industries and the rise of e-commerce in Belgium are driving the demand for PaaS solutions to support online business operations and customer engagement. In conclusion, the Platform as a Service market in Belgium is experiencing significant growth and development due to customer preferences for cost savings, scalability, and flexibility. The adoption of cloud-native technologies and the demand for multi-cloud and hybrid cloud solutions are key trends in the market. The local special circumstances, including a skilled workforce and a focus on technology and innovation, further support the growth of the PaaS market. Additionally, macroeconomic factors such as a stable economy and government policies promoting entrepreneurship and innovation contribute to the expansion of the PaaS market in Belgium.

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.