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The Platform-as-a-Service Market is projected to reach USD 227.5 billion by 2030, at a CAGR of 16.8% from 2023 to 2030. The growth of the PaaS market is driven by the increasing adoption of cloud computing technology, the growing implementation of IoT technology, and the rising need to reduce time to market and application development costs. However, data security & privacy concerns restrain the growth of this market.
The increasing penetration of Artificial Intelligence (AI) and Machine Learning (ML) technologies and the growing demand for video PaaS are expected to create growth opportunities for the stakeholders in this market. However, cloud migration and vendor lock-in are major challenges for market growth.
Here are the top 10 companies operating in the Platform-as-a-Service Market
Amazon Web Services, Inc. (Amazon.com, Inc.)
Founded in 1994 and headquartered in Washington, U.S., Amazon Web Services is a multinational technology company. The company provides a massive global cloud infrastructure that allows customers to quickly innovate, experiment and iterate and deploy new applications, instantly scale up as workload grows, and instantly scale down based on demand.
AWS operates in the market through two business segments, namely, Product and Service. The Product segment comprises revenue from the sale of products and related shipping fees and digital media content where the company recorded gross revenue. The Service segment primarily comprises third-party seller fees, which include commissions and any related fulfillment and shipping fees, AWS sales, advertising services, Amazon Prime membership fees, and certain digital content subscriptions.
Microsoft Corporation
Founded in 1975 and headquartered in Washington, U.S., Microsoft Corporation is a multinational technology company that provides software products such as Internet Explorer, Microsoft Windows OS, Microsoft Office Suite, and Edge Web browser. The company operates in the market through three business segments, namely, Productivity & Business Processes, Intelligent Cloud, and More Personal Computing. Through the Intelligent Cloud segment, the company offers public, private, and hybrid server products and cloud services that can power modern businesses and developers. This segment primarily comprises Server Products & Cloud Services, and Enterprise Services.
Microsoft’s server products and cloud services include Azure and other cloud services; SQL Server, Windows Server, Visual Studio, System Center, and related Client Access Licenses (“CALs”); and Nuance and GitHub. Further, the company’s enterprise services include Enterprise Support Services, Microsoft Consulting Services, and Nuance professional services.
Founded in 1998 and headquartered in California, U.S., Google LLC is a multinational technology company that provides search, advertising services, operating systems, and cloud services. The company operates in the market through three business segments, namely, Google Services, Google Cloud and Other Bets.
The company operates in the PaaS market through the Google Cloud segment and offers infrastructure and platform services, collaboration tools, and other services for enterprise customers. This segment generates revenues from fees for Google Cloud Platform services, Google Workspace communication and collaboration tools, and other enterprise services.
Google Services segment includes products and services such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube. This segment generates revenues primarily from advertising; sales of apps and in-app purchases, digital content products, and hardware; and fees received for subscription-based products such as YouTube Premium and YouTube TV. Other Bets combines multiple operating segments that are not individually material.
SAP SE
Founded in 1999 and headquartered in Walldorf, Germany, SAP SE is a multinational technology company engaged in enterprise application software and software-related services. The company develops business software, including e-business and enterprise management software, consulting & training services for its applications software. It provides a wide range of solutions, such as enterprise resource planning and financial management, intelligent technologies, analytics, digital platform, human resource, people engagement, digital supply chains, networks, speed management, customer resource management, and customer experience.
The company offers business software and enterprise applications that are designed for applications, analytics, cloud, mobile, database, and technology operations. SAP offers these services in sectors such as discrete manufacturing, energy & natural resources, financial services, and public services. The company operates in the market through two business segments, namely, Cloud & Software and Services.
Founded in 1977 and headquartered in Texas, U.S., Oracle Corporation is a multinational technology company that provides products and services such as enterprise applications and infrastructure offerings delivered worldwide through various flexible and interoperable IT deployment models. The company operates in the market through three business segments, namely, Cloud & License, Hardware, and Services.
Through the Cloud & Licenses segment, the company offers customers access to Oracle Cloud applications and infrastructure technologies via cloud-based deployment models that Oracle develops, providing unspecified updates and enhancements for, deploys, hosts, manages and supports.
Meticulous Research in its latest publication on Platform-as-a-Service Market has predicted the growth of 16.8% during the forecast year 2023-2029.
IBM Corporation
Founded in 1911 and headquartered in New York, U.S., IBM Corporation is a technology and consulting company that offers software, hardware, consulting, and financial services. The company operates in the market through five business segments, namely, Software, Consulting, Infrastructure, Financing, and Other. The company produces and sells system hardware and software and offers infrastructure, hosting, and consulting services. IBM’s product portfolio includes analytics, artificial intelligence (AI), automation, blockchain, cloud computing, IT infrastructure, IT management, cybersecurity, and software development products.
The company also offers services such as cloud, networking, security, technology consulting, application services, business resilience services, and technology support services. It serves automotive, banking and financial markets, electronics, energy and utilities, healthcare, insurance, life sciences, manufacturing, metals and mining, retail and consumer products, and telecommunication industries.
Founded in 1999 and headquartered in California, U.S., Salesforce is a multinational technology company that offers a specialized customer relationship management platform, Customer 360, that brings together a company’s marketing, sales, commerce, service, and IT teams to operate as one.
The company operates in the market through two business segments, namely, Subscription & Support and Professional Services & Other. The Subscription & Support segment generates revenues from subscription fees from customers accessing the company’s enterprise cloud computing services, software license revenues from the sales of term and perpetual licenses, and support revenues from the sale of support and updates beyond the basic subscription fees or related to the sales of software licenses.
Cisco Systems, Inc.
Founded in 1984 and headquartered in California, U.S., Cisco Systems is engaged in the designing, manufacturing, and selling of Internet Protocol-based networking products and services related to the communications and information technology industry. The company operates in the market through two business segments, namely, Product and Service. The Service segment offers cloud services such as PaaS in the market.
The company has a strong geographical presence throughout the world through its subsidiaries and a strong distribution network. Some of its subsidiaries are Cisco Meraki (U.S.), ThousandEyes, Inc. (U.S.), Cisco Systems Canada Co (U.S.), Cisco Systems Singapore (Singapore), and Cisco Commerce India Private Limited (India). As of July 2022, the company had a headcount of 26,000 across the world.
Founded in 1999 and headquartered in Hangzhou, China, Alibaba Group Holding Limited is an e-commerce and technology company. It operates in the market through seven business segments, namely, China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.
The company offers cloud services, such as cloud computing and AI, to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. Alibaba Cloud offers a complete suite of cloud services, including proprietary servers, elastic computing, storage, network, security, database and big data, and IoT services.
VMware, Inc. (EMC Corporation)
Founded in 1998 and headquartered in California, U.S., VMWare, Inc. is a multinational technology company that provides search services, advertising services, operating systems, and cloud services. The company operates in the market through two business segments, namely, License, Subscription and SaaS and Services.
The company offers cloud management products such as vRealize Cloud Management to manage multi-cloud environments running a range of workloads, including virtual machines and containers. Further, it offers product and technology solutions such as VMWare Tanzu, vSphere, and VMware NSX.s
Authoritative Research on the Platform-as-a-Service Market – Global Opportunity Analysis and Industry Forecast (2023-2029)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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