Platform as a Service - G7

Revenue in the Platform as a Service market is projected to reach US$117.40bn in 2024.
0 dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.34%, resulting in a market volume of US$261.10bn by 2029.
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 the Public Cloud Market of G7 nan is experiencing substantial growth, driven by the increasing adoption of cloud technologies, growing demand for flexible and cost-effective solutions, and the convenience of accessing services online. This growth rate is impacted by the rising need for digital transformation and the shift towards a more data-driven healthcare system.

Customer preferences: With the rise of remote work and the need for efficient collaboration, businesses are increasingly turning to Platform as a Service solutions within the Public Cloud Market. This trend is driven by a shift towards virtual workspaces and a desire for a seamless and secure online platform. Additionally, the demand for customized and scalable cloud-based solutions is on the rise, as companies prioritize flexibility and cost-effectiveness in their operations. This shift towards PaaS solutions is expected to continue, as businesses embrace the benefits of cloud computing in the post-pandemic world.

Trends in the market: In the G7 countries, the Platform as a Service Market within the Public Cloud Market is seeing a surge in demand for cloud-native applications and services. This trend is driven by the need for scalability, agility, and cost-efficiency in the face of rapidly evolving business needs. As a result, there is a shift towards serverless computing and containerization technologies. This has significant implications for industry stakeholders, as it requires a shift in mindset and skillset towards DevOps and microservices architecture. Moreover, this trend is expected to continue as organizations increasingly rely on cloud-based solutions for their IT infrastructure.

Local special circumstances: In the G7 countries, the Platform as a Service Market within the Public Cloud Market is heavily influenced by the level of technological advancement and the regulatory environment. For instance, in the United States, the market is dominated by major tech giants due to their strong presence and favorable government policies. In contrast, in Japan, the market is more fragmented due to strict data privacy laws and the preference for domestic cloud providers. Additionally, in Europe, data protection regulations such as GDPR have a significant impact on the offerings and adoption of PaaS solutions.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with supportive regulatory environments and strong investment in digital technologies are experiencing faster market growth compared to regions with regulatory barriers and limited funding. Additionally, the increasing adoption of cloud computing and the rise in demand for scalable and cost-effective solutions are driving the growth of the Platform as a Service Market within the Public Cloud Market.

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.