Albany, NY, Jan. 07, 2016 (GLOBE NEWSWIRE) -- A new market research report examining the global Platform as a Service (PaaS) market, recently published by Transparency Market Research, states that the market, which stood at a valuation of US$1.60 bn in 2013, will expand at an robust 25.7% CAGR between 2014 and 2020, and rise to a valuation of US$7.98 bn by 2020.The report is titled “Platform as a Service (PaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, and is available at the company website for sale.
PaaS, a cloud computing service model, enables the deployment of computer applications without the need for hosting capabilities at the deployment end. This service model thus helps in saving costs incurred for purchasing and managing the hardware and software products required for provisioning hosting capabilities. The PaaS model also helps in reducing the incremental cost required to scale-up systems with increase in service usage, and allows resource sharing, reusing, automated deployment, and life-cycle management.The report segments the global PaaS market on the basis of PaaS system type, type of implementation, end user, and geography.
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On the basis of implementation type, the market is segmented into public cloud, private cloud, and hybrid cloud. On the basis of PaaS system type, the market is segmented into application infrastructure and middleware (AIM), database management systems (DBMS), business intelligence platform (BIP), and application development. Based on end-users of PaaS systems, the market is segmented into banking, financial institutions and services (BFSI), online business, technology, retail, distribution and CPG (Consumer Packaged Goods), electronics, education services, public sector, travel and transport, healthcare and life sciences, energy and utility, manufacturing, professional services, media and entertainment, and telecom.
Based on geography, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW).The report also presents a detailed overview of the competitive landscape of the global PaaS market with the help of detailed business profiles of some of the key vendors operating in the market. It also illustrates the recent developments such as mergers and acquisitions in the market, and an analysis of strengths and weaknesses of key vendors and the threats and opportunities faced by these companies.
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The report states that the market is highly consolidated with the presence of a handful of technology giants such as Google, Amazon, Microsoft, and Salesforce. These companies dominate the overall market. In 2013, these companies collectively accounted for 67.0% of the global PaaS market, in terms of revenue generated.
Some of the key vendors operating in the global PaaS market include Red Hat, Software AG, Oracle Corporation, ActiveState Software Inc., SAP SE, EMC Corporation, VMware Inc., Salesforce.com, Inc., and AT&T Inc. Companies are relying on the rising adoption rate of PaaS solutions in cost-sensitive and developing economies of Asia Pacific and the Rest of the World and are employing the practice of reducing subscription and annual fee. Such strategies adopted by the companies are intensifying the overall competition.
Other Reports Published By Transparency Market Research:
Software as a Service (SaaS) Market
Infrastructure as a Service (IaaS) Market
Workspace as a Service (WaaS) Market
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research