Report: Platform as a Service Market To Grow At A CAGR of 25.7% Between 2014 and 2020
Growing at this pace, the global PaaS market, which valued US$1.60 billion in 2014, is expected to reach US$7.98 billion by 2020.
Transparency Market Research has announced the release of a report titled, “Platform as a Service (PaaS) (Public, Private and Hybrid Cloud) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” According to the report, the global PaaS market is expected to grow at an extremely healthy CAGR of nearly 25.7% between 2014 and 2020. Growing at this pace, the global PaaS market, which valued US$1.60 billion in 2014, is expected to reach US$7.98 billion by 2020.
The report states that the PaaS market is benefitting increasingly from rising preference of enterprises towards increasing operational expenditures and reducing capital expenditures. Ability of PaaS solutions in catering well to these demands, along with added benefits such as efficiency, agility, flexibility, and scalability provided by these systems are further bolstering demands for such systems in global market. The report segments the global PaaS market based on four major criteria: implementation types of PaaS solutions, types of PaaS solutions, chief end-users of PaaS, and important regional markets for the market.