Platform as a Service - Ireland

Ireland

Revenue in the Platform as a Service market is projected to reach US$1.34bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.11%, resulting in a market volume of US$3.08bn by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$461.90 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 Ireland is witnessing accelerated growth within the overall Public Cloud market, driven by factors such as increasing demand for digital solutions, growing awareness about health, and the convenience of online services. This elevated growth rate is influenced by the country's strong focus on digital transformation and the need for efficient and cost-effective solutions.

Customer preferences: The rise of digital transformation and the adoption of cloud computing is driving the demand for Platform as a Service (PaaS) solutions in Ireland. As organizations seek to streamline their operations and increase efficiency, PaaS offers a flexible and scalable solution for developing, testing, and deploying applications. Additionally, the growing emphasis on data privacy and security is fueling the demand for PaaS, as it allows for a more secure and compliant approach to managing data in the public cloud. This trend is expected to continue as Ireland remains a hub for technology innovation and investment.

Trends in the market: In Ireland, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-native applications, as more businesses prioritize digital transformation. This trend is expected to continue as companies increasingly rely on cloud-based solutions for cost-efficiency and scalability. Additionally, there is a growing emphasis on data privacy and security, leading to the adoption of PaaS solutions with enhanced security features. As a result, industry stakeholders can expect to see continued growth in the PaaS market, with potential implications for traditional software providers and IT service companies.

Local special circumstances: In Ireland, the Platform as a Service Market within the Public Cloud Market is experiencing significant growth due to the country's strong tech-savvy culture and government's push for digital transformation. The market is also influenced by Ireland's strategic location as a gateway to Europe, making it an attractive destination for multinational companies. Additionally, the country's favorable regulatory environment for data protection and privacy is a key factor driving the adoption of PaaS solutions in the public cloud market.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in Ireland is influenced by macroeconomic factors such as technological advancements, government support for digital transformation, and investment in information and communication technology (ICT) infrastructure. Ireland's strong economic health and stable fiscal policies have created a favorable environment for businesses to adopt cloud-based solutions. Additionally, the increasing demand for digital transformation across industries and the government's initiatives to promote digitalization are driving the growth of the Platform as a Service Market in Ireland.

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.