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Global Platform as a Service (PaaS) Market was valued US$ 28.60 Bn. in 2019 and is expected to reach US$ 61.80 Bn. by 2027, at a CAGR of 11.64 % during a forecast period.
Global Platform as a Service (PaaS) Market
The cloud computing, software as a service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) are denoting new developments in the software industry, which are completely transforming the way software is produced, consumed, and distributed. The PaaS services include the options like development tools, middleware, a runtime environment, and self-service options.
Global Platform as a Service (PaaS) Market, Dynamics:
An enterprise value-driven approach is a suitable option to empower PaaS adoption within the IT service operating model. Many organizations are moving to adopt PaaS service solution for facilitation of their DevOps models and cloud-sourced business analytics. In addition, companies are moving to public PaaS to provide high availability to their customers and to gain the ability to scale their cloud-based offerings at low cost IT infrastructure expenditure. Organizations prefer private PaaS service, which are primarily driven by requirements for security, control and customize their environment.
Many businesses are expected to move toward PaaS in a multitude of ways during the forecast period. A one-size-fits-all approach for PaaS providers is unsustainable and will need to adopt a PaaS model of some sort to be competitive and to bring agility and increased productivity to their development and IT teams.
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