Platform as a Service - Israel

Israel

Revenue in the Platform as a Service market is projected to reach US$578.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.73%, resulting in a market volume of US$1,365.00m by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$128.30 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

Market

Region

Region comparison

Currency

Analyst Opinion

The Platform as a Service market in the Public Cloud Market in Israel is experiencing substantial growth due to factors such as increasing adoption of digital technologies, rising awareness of the benefits of online services, and the convenience offered by PaaS solutions. This growth rate is driven by the demand for efficient and cost-effective cloud-based solutions in the region.

Customer preferences: The Platform as a Service Market within the Public Cloud Market in Israel has seen a growing demand for digital solutions in healthcare, such as online doctor consultations and remote monitoring of chronic conditions. This trend is driven by the country's aging population and the need for convenient and timely access to medical advice. Additionally, the increasing use of technology in daily life has resulted in a preference for digital platforms in managing personal health and wellness.

Trends in the market: In Israel, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, driven by the increasing adoption of digital transformation strategies by businesses and government agencies. This trend is expected to continue as more organizations shift towards a cloud-first approach to IT infrastructure. Additionally, there is a growing trend towards the use of hybrid and multi-cloud environments, as organizations seek to optimize their cloud strategy and leverage the strengths of different cloud providers. These trends have significant implications for industry stakeholders, as they highlight the need for agile, scalable, and secure PaaS solutions that can support diverse cloud environments and drive innovation.

Local special circumstances: In Israel, the Platform as a Service Market within the Public Cloud Market is heavily influenced by the country's high-tech culture and entrepreneurial spirit. The government's support for innovation and its investment in research and development has created a thriving startup ecosystem, making Israel a hub for technology and innovation. Additionally, Israel's close proximity to Europe and the Middle East makes it an attractive market for companies looking to expand their presence in these regions. This unique combination of factors has led to a robust and competitive public cloud market in Israel.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in Israel is greatly impacted by macroeconomic factors such as the country's strong investment in technology and digital infrastructure. Israel is known for its advanced technology industry and has been investing heavily in cloud computing, which has led to a favorable environment for the growth of the Platform as a Service Market. Additionally, Israel's strong national economic health and supportive regulatory environment have further contributed to the market's growth. The country's focus on innovation and entrepreneurship has also attracted significant investments in the technology sector, creating a conducive environment for the development of 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.