Wilmington, Delaware, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Public Cloud Platform as a Service Market value is estimated at US$ 318.3 billion in 2023 and is expected to rise at a strong CAGR of over 5.4% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Platform as a Service (PaaS) is a category of cloud computing services that provides a platform allowing customers to develop, run, and manage applications without dealing with the complexities of building and maintaining the underlying infrastructure. Public Cloud Platform as a Service (public PaaS) refers to PaaS offerings that are hosted in the cloud and provided as a service accessible over the internet.
Public cloud PaaS provides pre-configured development frameworks, tools, and services, reducing the time it takes to develop, test, and deploy applications. This enables businesses to bring new products and services to market more quickly, gaining a competitive edge.
According to a deep-dive market assessment by RationalStat, the global public cloud platform as a service market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Public Cloud Platform as a Service market covers market sizes on the basis of market value (US$/EUR Million), Volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Public Cloud Platform as a Service market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Public Cloud Platform as a Service Market: Segmental and Market Share Analysis
- On the basis of application, BFSI segment accounted for the largest market share with over 25% in terms of revenue owing to the adoption of cloud services for storage and management of customer data.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 318.3 billion |
| Market Size Forecast | US$ 460 billion |
| Growth Rate | 5.4% |
| Dominant Segment | BFSI |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global public cloud platform as a service market include.
- In June 2023, Amazon Web Services Inc. unveiled the AWS generative AI innovation hub, a new endeavor to assist clients in effectively building generative AI solutions. This will connect its machine learning and AI experts with global clients to help with the development, creation, and launch of new AI products.
Some of the prominent players and suppliers operating and contributing significantly to the global Public Cloud Platform as a Service market growth include Amazon, Microsoft, IBM, Google, Oracle, SAP SE, Zoho Corporation, ServiceNow, and VMware, among others.
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RationalStat has segmented the global Public Cloud Platform as a Service market based on type, application and region
- Global Public Cloud Platform as a Service Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
- Application PaaS (aPaaS)
- Integration PaaS (iPaaS)
- Database PaaS (dbPaaS)
- Others
- Global Public Cloud Platform as a Service Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
- BFSI
- Consumer goods and retail
- Telecommunication
- IT and ITeS
- Others
- Global Public Cloud Platform as a Service Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
- North America Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Public Cloud Platform as a Service Market Value (US$ Million), Market Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Public Cloud Platform as a Service Report:
- What will be the market value of the global Public Cloud Platform as a Service market by 2030?
- What is the market size of the global Public Cloud Platform as a Service market?
- What are the market drivers of the global Public Cloud Platform as a Service market?
- What are the key trends in the global Public Cloud Platform as a Service market?
- Which is the leading region in the global Public Cloud Platform as a Service market?
- What are the major companies operating in the global Public Cloud Platform as a Service market?
- What are the market shares by key segments in the global Public Cloud Platform as a Service market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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