‘Platform as a Service’ (PaaS) in combination with IaaS and SaaS is a cloud computing service model. The global platform as a service (PaaS) market was valued at USD 1.60 billion in 2013 and is forecast to grow at a CAGR of 25.7% from 2014 to 2020. PaaS, due to its service model, allows for low capital investment. It enables the deployment of applications without the need for provisioning hosting capabilities. It, thus, helps save on the cost incurred for buying and managing the underlying hardware and software. The PaaS model minimizes the incremental cost required for scaling the system with growth in the service usage, while allowing for resource sharing, reuse, life-cycle management, and automated deployment. For these benefits, PaaS is preferred over other solutions for application and service development.
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The flexibility, agility, scalability and efficiency offered by PaaS solutions are key factors which attract the small, medium as well as large enterprises to switch to PaaS solutions. In addition, the rising focus of enterprises in reducing capital expenditure (CAPEX) and diverting the spending to operational expenditure (OPEX) can also be served by PaaS solutions. The global PaaS market is expected to reach a market size of USD 7.98 billion by 2020. Furthermore, the pay-per-use features offered by PaaS coupled with high efficiency of PaaS solutions is another major factor fueling the global PaaS market. However, high fragmentation of market at regional levels hinders the market growth. In addition, the global PaaS market is still characterized by low adoption across the small and medium enterprises (SMEs), predominantly due to low awareness about benefits of PaaS. The key vendors of PaaS profiled in this report include Salesforce.com, Inc., Amazon.com, Inc., Google Inc., Microsoft Corp., and IBM Corp., among others. The significant opportunity for the key vendors lies in providing BPaaS and Open PaaS solutions to their clientele, thereby bolstering PaaS adoption rate
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