PaaS market to reach $6.94 billion by 2018

Grazed from CIOL. Author: Editorial Staff.

The global PaaS market is estimated to grow from $1.28 billion in 2013 to $6.94 billion in 2018 at a compound annual growth rate (CAGR) of 32.54 per cent in this period, according to the recent study done by MarketsandMarkets. PaaS has been the smallest market among the cloud computing segments. But now the trend is experiencing a drift where PaaS market is growing faster in terms of revenue.

Though PaaS market is not as huge as IaaS and SaaS which are the other two segments in cloud computing, the proportion of this market is very significant. Also many small players specializing in providing PaaS solutions have emerged and made the market so dynamic and competitive. This trend has benefited most of the application users and has increased the demand for PaaS on various sectors…

"Considering the expected growth of PaaS users from 3 per cent in the year 2012 to 43 per cent in the year 2015; various companies have ventured into this space. Owing to the foresighted growth potential, PaaS is set to make a mark in the industry and impact the future of the enterprise software market. The Platform as a Service Market research report analyzes the importance of PaaS in the cloud computing industry, its scalability to grow in future, drivers, restraints and challenges in this market. The report also focuses on global trends, evolving platforms and the adoption benefits," the study said…

Read more from the source @ http://www.ciol.com/ciol/news/210854/paas-market-reach-usd694-billion-2018

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