Platform as a Service - Europe

Europe

Revenue in the Platform as a Service market is projected to reach US$41.44bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.43%, resulting in a market volume of US$92.52bn by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$99.17 in 2024.
In global comparison, most revenue will be generated in the United States (US$91,020.00m in 2024).

Key regions: United States, Italy, Australia, Netherlands, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Platform as a Service market in the Public Cloud market in Europe is experiencing a high growth rate, driven by factors such as increased adoption of cloud technologies, growing demand for digital services, and the convenience of online platforms.

Customer preferences: The Platform as a Service Market within the Public Cloud Market in Europe is experiencing a rise in demand for digital solutions that provide convenience, efficiency, and flexibility. This has led to an increase in the adoption of cloud-based collaboration tools and virtual meeting platforms, as well as a growing preference for remote work and online education. This trend is driven by cultural shifts towards a digital-first mindset and the need for remote accessibility in light of the COVID-19 pandemic. Additionally, the rise of the gig economy and freelance work has also contributed to the growing demand for cloud-based services in Europe.

Trends in the market: In Europe, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in adoption, driven by the increasing demand for agile and scalable cloud solutions. Companies are leveraging PaaS offerings to develop and deploy applications quickly and efficiently. Additionally, there is a growing trend towards multi-cloud strategies, with organizations utilizing multiple PaaS providers to minimize risk and maximize flexibility. This trend is significant as it enables businesses to remain competitive in a rapidly evolving market. However, it also presents potential challenges for industry stakeholders, such as managing multiple vendor relationships and ensuring seamless integration across platforms.

Local special circumstances: In Europe, the Platform as a Service Market within the Public Cloud Market is influenced by unique factors such as strict data privacy regulations, varying levels of digital infrastructure, and diverse cultural preferences. These factors have led to a slower adoption of PaaS in some countries, while others have seen rapid growth. For example, in Germany, data privacy laws have resulted in a preference for on-premise solutions, while in the UK, the market is driven by a strong digital economy and a growing demand for cloud-based services. Additionally, the Nordics have a strong tech-savvy culture, resulting in a high adoption of PaaS solutions.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in Europe is greatly impacted by macroeconomic factors such as the overall economic health of the region, global economic trends, and fiscal policies. Countries with strong economic growth, stable political climates, and supportive fiscal policies are experiencing higher demand for Platform as a Service solutions in the public cloud market. Additionally, the increasing adoption of digital technologies and the rise of data-driven business models are driving the need for scalable and efficient cloud-based platforms, further boosting the growth of the market. However, factors such as data privacy concerns and regulatory challenges in some countries may hinder the market growth to some extent.

Methodology

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.