Platform as a Service - Estonia

Estonia

Revenue in the Platform as a Service market is projected to reach US$31.54m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.65%, resulting in a market volume of US$74.15m by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$41.79 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

Estonia, a small country in Northern Europe, is experiencing significant growth in its Platform as a Service (PaaS) market. PaaS is a cloud computing service that provides a platform for developers to build, test, and deploy applications without the need for infrastructure management. Customer preferences in the Estonian PaaS market are driving this growth. Companies in Estonia are increasingly adopting cloud-based solutions to improve their efficiency and scalability. PaaS offers a cost-effective and flexible solution for businesses, allowing them to focus on their core competencies while leaving the management of infrastructure to the service provider. This has led to a growing demand for PaaS services in the country. Trends in the Estonian PaaS market reflect the global shift towards cloud computing. The increasing popularity of Software as a Service (SaaS) and Infrastructure as a Service (IaaS) has paved the way for PaaS adoption. Businesses are looking for integrated solutions that combine these services, allowing them to streamline their operations and reduce costs. PaaS providers in Estonia are responding to this demand by offering comprehensive platforms that cater to the needs of different industries and sectors. Local special circumstances also contribute to the development of the PaaS market in Estonia. The country has a highly skilled workforce in the field of information technology, with a strong focus on software development. This talent pool provides a competitive advantage for PaaS providers, as they can offer innovative and customized solutions to their customers. Additionally, Estonia has a favorable business environment, with government initiatives promoting digital innovation and entrepreneurship. This creates a conducive environment for PaaS providers to thrive and attract both local and international customers. Underlying macroeconomic factors further support the growth of the PaaS market in Estonia. The country has a high level of digitalization, with a well-developed IT infrastructure and widespread internet access. This enables businesses to easily adopt cloud-based solutions, including PaaS. Additionally, Estonia has a strong startup ecosystem, with many technology companies emerging in recent years. These startups often rely on PaaS to develop and launch their products, further driving the demand for PaaS services in the country. In conclusion, the Platform as a Service market in Estonia is experiencing significant growth due to customer preferences, global trends, local special circumstances, and underlying macroeconomic factors. The adoption of cloud-based solutions, the integration of different cloud services, the presence of a skilled workforce, a favorable business environment, and a high level of digitalization all contribute to the development of the PaaS market in Estonia. This growth is expected to continue as more businesses recognize the benefits of PaaS and seek to leverage its advantages in their operations.

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.