Platform as a Service - Romania

Romania

Revenue in the Platform as a Service market is projected to reach US$229.60m 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 19.50%, resulting in a market volume of US$559.60m 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

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Analyst Opinion

In the Public Cloud Market in Romania, the Platform as a Service segment is experiencing rapid growth due to factors such as increasing adoption of digital technologies and rising demand for online services. The market's elevated growth rate can be attributed to the convenience and cost-efficiency offered by PaaS solutions.

Customer preferences: As more businesses in Romania embrace cloud computing, there is a growing demand for Platform as a Service offerings. This is driven by a shift towards digital transformation and the need for efficient and scalable solutions. Additionally, with the rise of remote work and the need for collaboration and flexibility, PaaS is increasingly seen as a key enabler for agile and innovative business practices. This trend is expected to continue as companies seek to enhance their digital capabilities and stay competitive in the market.

Trends in the market: In Romania, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-native application development and deployment. This trend is driven by the increasing adoption of digital transformation strategies by businesses across various industries. Additionally, the rise of remote work and the need for efficient collaboration tools has led to a growing demand for Platform as a Service solutions. This trend is expected to continue, as businesses prioritize agility and cost-effectiveness in their operations. Industry stakeholders must stay updated with the latest developments in the market and invest in innovative solutions to stay competitive in this rapidly evolving landscape.

Local special circumstances: In Romania, the Platform as a Service Market within the Public Cloud Market is influenced by the country's expanding economy and government initiatives to encourage digital transformation. The market has seen a rise in demand for PaaS solutions as businesses seek to optimize their operations and improve efficiency. Additionally, Romania's strong IT talent pool and competitive pricing make it an attractive location for PaaS providers. However, the market is also affected by strict data privacy regulations, which impact data storage and processing in the cloud. The country's increasing focus on cybersecurity measures also influences the PaaS market, driving demand for secure and reliable solutions.

Underlying macroeconomic factors: The growth of the Platform as a Service Market within the Public Cloud Market in Romania is influenced by various macroeconomic factors. These include the country's position in the global economy, its overall economic health, and its fiscal policies. Romania's strong economic growth and stable political climate have attracted foreign investments and boosted the demand for cloud-based services. Additionally, the government's efforts towards modernizing its IT infrastructure and promoting digital transformation have created a favorable environment for the growth of the Platform as a Service Market within the Public Cloud Market. Furthermore, the increasing adoption of digital technologies and the rising demand for cost-effective and scalable solutions are driving the growth of this market in Romania.

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.