Platform as a Service - Canada | Statista Market Forecast

Revenue in the Platform as a Service market is projected to reach US$2.45bn 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 17.88%, resulting in a market volume of US$5.59bn 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).

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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 Canada is experiencing substantial growth, driven by factors such as the increasing use of digital technologies, growing awareness of health among consumers, and the convenience of online health services. This significant growth rate is influenced by the increasing demand for efficient and cost-effective cloud services in the country.

Customer preferences: The Platform as a Service Market within the Public Cloud Market in Canada has seen a rise in demand for cloud-based solutions that cater to the specific needs of different industries. This trend is driven by the increasing adoption of digital transformation strategies and the need for agile and scalable solutions. With the growing emphasis on data privacy and security, there has been a shift towards customizable and secure PaaS offerings. This has led to a rise in partnerships and collaborations between PaaS vendors and industry-specific players.

Trends in the market: In Canada, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-native applications and services. This trend is driven by the increasing adoption of digital transformation strategies in various industries, such as finance and healthcare. This trajectory is expected to continue, with experts predicting a significant growth in the PaaS market over the next few years. This trend has significant implications for industry stakeholders, as it offers opportunities for innovation and improved efficiency. However, it also poses challenges, such as data privacy and security concerns, that must be addressed by stakeholders to ensure the sustainable growth of the market.

Local special circumstances: In Canada, the Platform as a Service Market within the Public Cloud Market is heavily influenced by the country's vast geography and diverse culture. Due to the large landmass and varying climate conditions, there is a high demand for cloud-based solutions that facilitate remote work and collaboration. Additionally, the country's strict data privacy regulations and emphasis on data sovereignty have led to the development of locally-hosted PaaS solutions. This, combined with the growing trend of digital transformation in various industries, has resulted in a thriving PaaS market in Canada.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in Canada is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in cloud technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for digital solutions and the adoption of cloud services by businesses of all sizes are driving the growth of the market in Canada.

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.