Platform as a Service - NAFTA

NAFTA

Revenue in the Platform as a Service market is projected to reach US$95.69bn 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 17.27%, resulting in a market volume of US$212.20bn 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

Market

Region

Region comparison

Currency

Analyst Opinion

In the NAFTA region, the Platform as a Service Market within the Public Cloud Market is experiencing substantial growth, driven by factors such as increasing demand for digital solutions, growing awareness of the benefits of cloud services, and the convenience of using online platforms. This significant growth is being impacted by the increasing adoption of digital technologies and the shift towards more efficient and cost-effective solutions.

Customer preferences: With the increasing adoption of cloud-based technology in the Platform as a Service Market within the Public Cloud Market, there has been a noticeable shift towards more personalized and user-friendly solutions. This trend is driven by consumer preferences for easy and efficient ways of managing their businesses and operations. With the rise of remote work and virtual collaboration, there is a growing demand for cloud-based platforms that offer seamless integration, real-time data access, and enhanced security measures. This shift towards user-centric solutions is also influenced by the cultural shift towards a digital-first mindset and the need for flexible and scalable solutions in today's fast-paced business landscape.

Trends in the market: In the NAFTA region, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, with organizations seeking to balance the benefits of public and private clouds. In addition, there is a growing trend towards the adoption of multi-cloud strategies, as businesses look to leverage the strengths of different cloud providers. This trend is expected to continue, with the potential to drive competition and innovation in the market. Industry stakeholders should pay close attention to the evolving landscape and consider how to adapt their offerings to meet the changing demands of their customers.

Local special circumstances: In Canada and Mexico, the Platform as a Service Market within the Public Cloud Market is influenced by the strong government support for digital transformation and the increasing adoption of cloud technologies in the public sector. In Canada, the market is driven by the need for cost-effective and efficient solutions in the government and healthcare sectors, while in Mexico, the market is experiencing significant growth due to the growing demand for digital services in industries such as finance, education, and healthcare. Additionally, in both countries, the cultural emphasis on innovation and technological advancement is driving the adoption of PaaS solutions in the public cloud market.

Underlying macroeconomic factors: The increasing adoption of cloud computing and digital transformation initiatives by organizations is a major driver for the growth of the Platform as a Service Market within the Public Cloud Market. This is further supported by favorable macroeconomic factors such as government initiatives to promote cloud adoption and investments in digital infrastructure. Countries with strong digital capabilities and supportive policies are experiencing higher demand for PaaS solutions, while regions with limited digital infrastructure and regulatory challenges are lagging behind in the market. Moreover, the global shift towards remote work and virtual collaboration due to the COVID-19 pandemic has also accelerated the demand for PaaS solutions, as organizations look for cost-effective and scalable cloud-based solutions to support their operations.

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.