Platform as a Service - Denmark

Denmark

Revenue in the Platform as a Service market is projected to reach US$1.05bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.18%, resulting in a market volume of US$2.32bn by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$322.80 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 Denmark is experiencing significant growth and development.

Customer preferences: In Denmark, customers are increasingly turning to Platform as a Service (PaaS) solutions to meet their business needs. This is driven by the desire for more flexible and scalable IT infrastructure, as well as the need for faster and more efficient software development and deployment. PaaS allows businesses to access and use software development tools and infrastructure on-demand, without the need for extensive in-house resources. This is particularly appealing to small and medium-sized enterprises (SMEs) in Denmark, as it allows them to compete with larger companies on a more level playing field.

Trends in the market: One of the key trends in the PaaS market in Denmark is the adoption of cloud-native technologies. Cloud-native applications are designed specifically for the cloud environment, and are built using microservices architecture and containers. This allows for greater scalability, resilience, and flexibility, making it easier for businesses to adapt to changing market conditions. As a result, many businesses in Denmark are transitioning from traditional monolithic applications to cloud-native applications, driving the demand for PaaS solutions. Another trend in the PaaS market in Denmark is the increasing use of artificial intelligence (AI) and machine learning (ML) technologies. Businesses are leveraging these technologies to gain insights from their data, automate processes, and improve decision-making. PaaS solutions provide the necessary infrastructure and tools to develop and deploy AI and ML applications, making them an essential component of the digital transformation journey for many businesses in Denmark.

Local special circumstances: Denmark has a highly advanced digital infrastructure, with a high level of internet penetration and a strong focus on digitalization. This provides a favorable environment for the growth of the PaaS market, as businesses have the necessary infrastructure and expertise to leverage PaaS solutions effectively. Additionally, Denmark has a strong startup ecosystem, with many innovative companies emerging in the technology sector. These startups often have limited resources and require cost-effective and scalable IT solutions, making PaaS an attractive option.

Underlying macroeconomic factors: The growth of the PaaS market in Denmark is also influenced by underlying macroeconomic factors. Denmark has a strong and stable economy, with a high level of disposable income and a well-educated workforce. This creates a favorable business environment, with businesses willing to invest in technology solutions to drive growth and innovation. Additionally, Denmark has a strong focus on sustainability and green technologies, which is driving the adoption of cloud-based solutions, including PaaS. In conclusion, the Platform as a Service market in Denmark is experiencing significant growth and development. Customer preferences for flexible and scalable IT infrastructure, the adoption of cloud-native technologies and AI/ML, local special circumstances such as advanced digital infrastructure and a strong startup ecosystem, and underlying macroeconomic factors such as a strong and stable economy and a focus on sustainability are all contributing to the growth of the PaaS market in Denmark.

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.