Platform as a Service - EU-27

EU-27

Revenue in the 0 market in the EU-27 is projected to reach US$28.68bn in 2024.
The Platform as a Service market sector dominates the market within the EU-27, with a projected market volume of 0 in 2024.
Revenue in the EU-27 is expected to show an annual growth rate (CAGR 2024-2029) of 16.97%, resulting in a market volume of US$62.81bn by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$91,020.00m in 2024.
The EU-27 is increasingly prioritizing data sovereignty, driving demand for Platform as a Service solutions that align with stringent regulatory compliance.

Key regions: United States, Italy, Australia, Netherlands, Japan

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Analyst Opinion

The Platform as a Service Market in the Public Cloud Market in EU-27 is experiencing substantial growth, fueled by factors such as increasing demand for digital solutions, growing awareness of health issues among consumers, and the convenience of online health services. This growth rate is being impacted by the increasing adoption of digital technologies and the shift towards cloud-based solutions in the healthcare industry.

Customer preferences: As more businesses adopt a hybrid cloud approach, there is a growing demand for Platform as a Service (PaaS) solutions that offer flexibility and scalability. This trend is driven by a shift towards remote work and the need for digital collaboration tools. Additionally, there is a rising interest in low-code and no-code solutions, catering to businesses with limited IT resources and expertise. PaaS providers are also incorporating artificial intelligence and machine learning capabilities to better support data-driven decision making.

Trends in the market: In the EU-27, the Platform as a Service Market within the Public Cloud Market is experiencing a rise in demand for cloud-native development and deployment solutions. This trend is driven by the increasing adoption of agile and DevOps methodologies, as well as the need for organizations to accelerate their digital transformation. As a result, there is a shift towards containerization and microservices, with a focus on scalability and flexibility. This trend is significant as it allows companies to build and deploy applications quickly and efficiently, while also reducing costs. However, it also presents challenges for traditional software vendors who may struggle to adapt. Industry stakeholders should pay attention to this trend and consider investing in cloud-native technologies to stay competitive in the market.

Local special circumstances: In Germany, the Platform as a Service Market within the Public Cloud Market is thriving due to the country's robust digital infrastructure and strong data protection laws. This has enabled the adoption of cloud services by businesses of all sizes, including small and medium enterprises. Additionally, Germany's emphasis on data security and privacy has led to a high demand for Platform as a Service solutions that comply with local regulations. The country's mature market also provides a fertile ground for the development of innovative cloud-based applications and services, further driving the growth of the Platform as a Service Market within the Public Cloud Market.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market is heavily impacted by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with supportive regulatory environments and significant investments in digital technologies are experiencing higher market growth compared to regions with regulatory barriers and limited funding. Moreover, the rising demand for digital transformation and the adoption of cloud-based solutions across various industries are driving the growth of the PaaS market in the EU-27.

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.