Platform-as-a-Service (PaaS) is a set of cloud-based services that enable business users and developers to build applications at a higher speed than on-premise solutions. PaaS provides a flexible, cost-effective cloud platform for developing, running, and managing applications. It includes infrastructure (servers, storage, and networking) and platform (middleware, development tools, database management systems, business intelligence, and more) to support the web application life cycle. It allows programmers to easily create, test, run, and deploy web applications. Further, it allows enterprises to avoid the expense and complexity of buying and managing software licenses, the underlying application infrastructure and middleware, container orchestrators such as Kubernetes, or the development tools and other resources. This helps enterprises to reduce the time-to-market (TTM) of their application launch.
The rise in adoption of cloud computing due to the benefits such as lower cost, flexibility, and customized pricing model, and the growth in adoption of IoT are the major factors driving the growth of the global PaaS market. The increasing penetration of artificial intelligence (AI) and machine learning (ML) technologies and the growing demand for video PaaS are expected to create market growth opportunities for stakeholders during the forecast period.
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PaaS is categorized into private, public and hybrid PaaS. Hybrid PaaS is a cloud computing model that allows organizations to deploy and manage applications on public and private cloud infrastructure. It combines the benefits of both public and private cloud solutions to create a flexible and scalable platform for developing, testing, and deploying applications. Hybrid PaaS provides orchestration, management, and application portability across all three clouds. This offers a unified and flexible distributed computing environment where an organization runs and scales its traditional (legacy) or cloud-native workloads on the most appropriate computing model. A hybrid PaaS solution allows developers to build once, then deploy and manage anywhere in a hybrid cloud environment.
Several industries, such as IT & telecom, retail & e-commerce, BFSI, and healthcare, have adopted PaaS to improve their productivity, application development, and data integration. IT and telecom industry has widely adopted PaaS to improve their productivity. With the advancement of 5G network technology, the demand for PaaS has further increased in these sectors. PaaS provides the building blocks for automated testing and continuous deployment and supports the DevOps approach, simplifying the development process and reducing time to market. Applications designed to run in a PaaS environment are less complex and consume fewer resources than their traditionally programmed counterparts since they do not need to re-implement the services provided by the platform. Additionally, PaaS applications take less time to start up than applications deployed on a full software stack. The simplified nature of PaaS applications offers scalability benefits for IT and telecom companies.
The increasing penetration of AI and ML technologies in these sectors and the growing demand for video PaaS is expected to create growth opportunities for market stakeholders. AIPaaS (PaaS for Artificial Intelligence) enables development teams to build AI apps without purchasing, managing, and maintaining significant computing power, storage, and networking capacity. AIPaaS includes pre-trained machine learning and deep learning models that developers can use or customize and ready-made APIs for integrating specific AI capabilities, such as speech recognition or speech-to-text conversion, into existing or new applications. Furthermore, Video Platform-as-a-Service (VPaaS) offers video solutions that allow users to upload video content via hosting services. The service allows users to stream video content on websites. VPaaS provides video analytics on how users interact with videos and offer the opportunity to improve workflows and reporting.
Thus, the rising adoption of cloud technologies and the growing integration AI and ML in various industrial sectors are driving the global PaaS market.
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