Platform as a Service - Vietnam | Statista Market Forecast

Revenue in the Platform as a Service market is projected to reach US$243.90m in 2024.
0.0 dominates the market with a projected market volume of 0.0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 22.59%, resulting in a market volume of US$675.40m by 2029.
In global comparison, most revenue will be generated United States (US$91.02bn in 2024).

Definition:

Platform as a Service (PaaS) refers to the type of public cloud service that provides a ready-to-use platform and environment for developers to build, deploy, and manage applications. PaaS offers tools, frameworks, and services that streamline the development process, thus eliminating the need to manage the underlying infrastructure. It allows developers to focus on the tasks of writing code and creating applications without worrying about server setup or maintenance. The PaaS market includes the companies that provide these types of public cloud resources and services to individuals, businesses, and organizations. A typical example of this type of service is Google App Engine.

Additional Information:

The Platform as a Service (PaaS) market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the PaaS market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (App Engine), and IBM (Cloud).

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Application development, such as Microsoft Azure App Service, Google App Engine, and AWS Elastic Beanstalk
Debugging processes, such as Microsoft Azure Monitor and AWS X-Ray
Testing, such as Google Cloud Flood, Distributed Load Testing on AWS, and Microsoft Azure Load Testing
Deployment tools, such as Microsoft Azure Deployment Environments and AWS CodeDeploy

Infrastructure-as-a-Service (IaaS), such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, Google Compute Engine (GCE), Alibaba Cloud ECS, and Oracle Cloud Infrastructure
Software-as-a-Service (SaaS), such as Microsoft 365, Salesforce, Google Workspace, and Zoom
Business-Process-as-a-Service (BPaaS), such as payroll management and accounting solutions via ADP Workforce Now, Intuit QuickBooks Online, Workday, and Oracle NetSuite

The Platform as a Service market in Vietnam is rapidly expanding within the Public Cloud market, driven by factors such as the country's elevated growth rate and increased adoption of digital technologies. The convenience of online health services and rising health awareness among consumers are also contributing to this growth.

Customer preferences: As Vietnam's economy continues to grow and modernize, there has been a significant increase in demand for cloud-based solutions, especially in the Platform as a Service Market within the Public Cloud Market. This can be attributed to the country's young and tech-savvy population, who are increasingly relying on digital platforms for business and personal use. Additionally, the rise of e-commerce and online businesses has also driven the demand for cloud-based services, as companies look for flexible and scalable solutions to support their operations.

Trends in the market: In Vietnam, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand, driven by the increasing adoption of cloud technology by businesses. This trend is expected to continue as more companies shift towards cloud-based solutions, leading to a rise in the number of PaaS providers in the country. This presents significant opportunities for industry stakeholders, such as cloud service providers and software developers, who can capitalize on this trend. However, it also poses challenges, such as fierce competition and the need for continuous innovation to stay relevant in the rapidly evolving PaaS market. As Vietnam's digital economy continues to grow, the PaaS market is expected to play a crucial role in driving this growth, making it a key area of focus for businesses and investors alike.

Local special circumstances: In Vietnam, the growth of the Platform as a Service Market within the Public Cloud Market is driven by the government's push for digital transformation and the increasing adoption of cloud computing by local businesses. The country's young and tech-savvy population, coupled with improving internet infrastructure, also contributes to the market's growth. Additionally, the government's favorable policies and incentives for foreign investments in the ICT sector have attracted major players in the market. However, the lack of data privacy regulations and concerns over cybersecurity remain key challenges for the market's development.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in Vietnam is heavily influenced by macroeconomic factors such as government initiatives to promote digitalization and the country's growing tech-savvy population. Vietnam's strong economic growth and favorable regulatory environment have attracted foreign investment, leading to the development of a robust cloud computing market. Additionally, the increasing demand for cloud-based solutions in various industries, such as e-commerce and finance, is driving the growth of the Platform as a Service Market in Vietnam. Furthermore, the country's young and rapidly expanding population is creating a favorable market for digital services, including cloud-based platforms.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.