Platform as a Service - North America

North America

In North America, revenue in the 0 market is projected to reach US$95.69bn in 2024.
The Platform as a Service market is expected to dominate the market with a projected market volume of 0 in 2024.
Revenue in this market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 17.27%, leading to a market volume of US$212.20bn by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$91,020.00m in 2024.
The Platform as a Service market in North America is experiencing significant growth as businesses increasingly prioritize cloud-native applications and digital transformation initiatives.

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

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Analyst Opinion

The PaaS market within the public cloud market in North America is experiencing substantial growth, driven by factors such as increasing adoption of digital technologies, rising awareness about the benefits of cloud computing, and the convenience of online services. This growth is being impacted by the increasing demand for flexible and cost-effective solutions, as well as the growing need for efficient and scalable IT infrastructure.

Customer preferences: As the adoption of cloud computing continues to increase in North America, there has been a notable shift towards Platform as a Service (PaaS) within the Public Cloud Market. This is largely driven by the growing demand for more flexible and agile application deployment options. Additionally, with the rise of remote work and the need for collaboration and productivity tools, PaaS solutions are becoming increasingly popular as they offer a cost-effective and scalable solution for businesses of all sizes. Moreover, the increasing focus on digital transformation and the need for rapid innovation has also contributed to the growth of the PaaS market in North America.

Trends in the market: In North America, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for serverless computing, with businesses opting for a pay-per-use model to reduce costs and increase flexibility. This trend is expected to continue as companies seek more efficient and scalable solutions for their cloud infrastructure. Additionally, there is a growing emphasis on integrating artificial intelligence and machine learning into PaaS offerings, providing users with advanced analytics and automation capabilities. This presents significant opportunities for industry stakeholders to tap into a rapidly evolving market and stay ahead of the competition.

Local special circumstances: In North America, the Platform as a Service Market within the Public Cloud Market is greatly influenced by the region's advanced technological infrastructure and high demand for digital transformation. The market is also shaped by strict data privacy regulations, such as the General Data Protection Regulation (GDPR) in Canada and the United States, which make data security a top priority for businesses. Additionally, the cultural emphasis on innovation and entrepreneurship has led to a thriving startup ecosystem, with many small and medium-sized enterprises adopting PaaS solutions to scale their operations.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market is heavily influenced by macroeconomic factors such as digital transformation initiatives, government support, and investment in IT infrastructure. Countries with favorable regulatory environments and strong investment in digital technologies are experiencing significant market growth compared to regions with regulatory challenges and limited IT funding. Moreover, the rise in demand for digital solutions and the adoption of cloud-based services in various industries are driving the growth of the 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.