Platform as a Service - Israel

Israel

In Israel, revenue in the 0 market is projected to reach US$0.58bn in 2024.
The Platform as a Service market dominates the market with a projected market volume of 0 in 2024.
Revenue in Israel is expected to show an annual growth rate (CAGR 2024-2029) of 18.76%, resulting in a market volume of US$1.37bn by 2029.
In global comparison, most revenue will be generated the United States, which is anticipated to reach US$91,020.00m in 2024.
Israel's Platform as a Service market is increasingly driven by its robust tech ecosystem, fostering innovation and collaboration among startups and established enterprises.

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

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Analyst Opinion

The Platform as a Service Market within the Public Cloud Market in Israel is experiencing substantial growth, driven by the increasing demand for digital solutions, growing awareness of health and wellness, and the convenience of online services. This significant growth rate is influenced by the country's strong focus on innovation and technology, as well as the growing trend of businesses shifting towards cloud-based services for cost-effectiveness and agility.

Customer preferences: As businesses in Israel continue to embrace the use of cloud computing, there has been a significant rise in demand for Platform as a Service (PaaS) solutions. This can be attributed to the growing focus on digital transformation and the need for agile and scalable infrastructure. Additionally, with the rise of remote work and the need for collaboration and data sharing, PaaS offers a cost-effective and efficient solution for businesses. This trend is expected to continue as more companies adopt a cloud-first approach to their operations.

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. This has led to a rise in the use of PaaS for application development, deployment, and management in the public cloud. Additionally, there is a growing trend of companies shifting towards a serverless model, where they only pay for the resources they use, leading to more cost-effective and scalable solutions. These trends are significant as they offer businesses greater flexibility and agility, allowing them to quickly adapt to changing market dynamics. For industry stakeholders, this presents opportunities for growth and innovation, but also the need to stay abreast of evolving technologies to remain competitive in the market.

Local special circumstances: In Israel, the Platform as a Service Market within the Public Cloud Market is heavily influenced by the country's tech-savvy culture and its reputation as a startup nation. The country's small size and close-knit tech community also contribute to a highly competitive and innovative market. Additionally, Israel's strong cybersecurity culture and strict data privacy regulations make it a desirable location for companies seeking secure cloud solutions. These factors create a unique environment for the growth and development of the Platform as a Service Market within the Public Cloud Market in Israel.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in Israel is also influenced by macroeconomic factors such as technological advancements, government policies promoting digitalization, and investment in IT infrastructure. Israel's strong economy and high level of technological innovation make it a favorable market for PaaS solutions. Furthermore, the ongoing government initiatives to promote cloud adoption and the increasing number of startups in the country are also driving the demand for PaaS services. Additionally, the growing digital transformation trend in various industries, such as healthcare, finance, and retail, is further boosting the demand for PaaS solutions in Israel.

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.