Platform as a Service - Hungary | Statista Market Forecast

Revenue in the Platform as a Service market is projected to reach US$159.00m 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 19.99%, resulting in a market volume of US$395.50m 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 Hungary has been rapidly expanding due to the growing demand for digital solutions, heightened health consciousness among individuals, and the ease of accessing online healthcare services. This elevated growth rate can be attributed to the country's increasing investment in modernizing its healthcare infrastructure and the rising trend of using cloud-based platforms for healthcare management.

Customer preferences: As businesses in Hungary continue to adopt cloud computing, the Platform as a Service market within the Public Cloud Market is experiencing a rise in demand. This can be attributed to the growing preference for agile and scalable solutions, as well as the increasing adoption of DevOps practices. Additionally, the trend towards remote work is also driving the need for PaaS, as it allows for seamless collaboration and communication among remote teams. This shift towards cloud-based solutions is also influenced by the cultural value placed on efficiency and productivity in the Hungarian business landscape.

Trends in the market: In Hungary, there is a growing trend towards the adoption of Platform as a Service (PaaS) within the Public Cloud Market. This trend is driven by the increasing demand for flexible and cost-effective solutions for software development and deployment. PaaS providers are also expanding their offerings to include advanced features such as artificial intelligence and machine learning, catering to the evolving needs of businesses. This trend is expected to continue on an upward trajectory, with PaaS market revenue projected to reach $1.7 billion in 2024. Industry stakeholders, including businesses and developers, should take advantage of this trend to improve their operational efficiency and competitiveness in the market. However, it is important for them to carefully evaluate and choose the right PaaS provider to ensure data security and compliance with regulations.

Local special circumstances: In Hungary, the Platform as a Service (PaaS) market is gaining traction due to the government's focus on digital transformation and the country's strong IT infrastructure. Additionally, the market is influenced by the high demand for cloud-based solutions from small and medium-sized enterprises (SMEs) looking to reduce costs and increase efficiency. The unique cultural and regulatory landscape in Hungary also plays a role, with the country's strong data privacy regulations and growing preference for local cloud services.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in Hungary is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. The country's strong investment in digitalization and its favorable regulatory environment have contributed to the rapid adoption of PaaS solutions. Furthermore, the increasing demand for digital solutions in various industries and the government's efforts to promote digital transformation are driving the growth of the PaaS market in Hungary. Additionally, the country's stable economic health and its strategic location in Central Europe make it an attractive market for PaaS providers looking to expand their services.

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.