CHICAGO, April 9, 2021 /PRNewswire/ — According to a new market research report “Platform as a Service (PaaS) Market by Type (APaaS, IPaaS, DBPaaS), Deployment (Public and Private), Organization Size (Large Enterprises and SMEs), Vertical (Consumer Goods and Retail, BFSI, Manufacturing), and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the Platform as a Service Market size is expected to grow from USD 56.2 billion in 2020 to USD 164.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period.
Key factors that are expected to drive the growth of the market are the increasing need to reduce time to market and cost of application development and focus on streamlining application management. However, cloud washing hindering the growth of PaaS, and security concerns related to the adoption of public cloud are expected to limit the market growth. Apart from drivers and restraints, there are a few lucrative opportunities for PaaS providers in the market. The rapid development of the mobile app ecosystem and the emergence of video communication PaaS are some of the opportunities for vendors in the PaaS Market. These opportunities are expected to present new market growth prospects for PaaS vendors.
Browse in-depth TOC on “Platform as a Service (PaaS) Market”
231 – Tables
47 – Figures
216 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=814
Application PaaS segment to hold…