The global platform as a service (PaaS) market is predicted in a report by Transparency Market Research (TMR) to find players using the business tactic of reducing annual subscription fees to gain traction. Another tactic that could be adopted in the market is focusing on Asia Pacific and the Rest of the World where PaaS solutions are used at a rising rate. Such developing and cost-sensitive geographies of the market are expected to create strong growth opportunities in the near future. The market includes some of the top players of the industry such as Oracle, Software AG, and Red Hat.
TMR envisages the global PaaS market to reach a US$7.98 bn valuation by the end of 2020. By type of implementation, the segment of public cloud could dominate the market in the coming years. By region, North America is foreseen to take the lead in terms of growth.
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PaaS Improves Adoption among End Users with OPEX and CAPEX Advantages
The global PaaS market is envisioned to increase growth on the back of the advantage of low capital investment because of the nature of the service model. PaaS cancels the need for provisioning hosting capabilities for the deployment of applications. As a result, it helps to save costs related to the purchase and management of required software and hardware products. Additional cost of upgrading systems to match up with increase in service usage could also be reduced with the help of PaaS. On the other hand, PaaS helps with lifecycle management, automated deployment, and resource sharing and reusing.
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