Platform as a Service - United States

United States

Revenue in the Platform as a Service market is projected to reach US$91.02bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.25%, resulting in a market volume of US$201.70bn by 2029.
The average spend per employee in the Platform as a Service market is projected to reach US$525.20 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

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Analyst Opinion

The Platform as a Service market in the Public Cloud Market in the US is experiencing substantial growth, driven by factors like increased adoption of cloud technologies, growing demand for convenient online services, and rising awareness of the benefits of PaaS.

Customer preferences: As more businesses adopt Platform as a Service solutions within the Public Cloud Market, there has been a growing trend towards customized and user-friendly interfaces that cater to the unique needs of different industries. This reflects a shift towards personalized and efficient digital solutions, driven by the increasing demand for seamless integration and streamlined operations. Additionally, the rising adoption of agile development methodologies and DevOps practices has led to an emphasis on speed and flexibility in the development and deployment of cloud-based applications.

Trends in the market: In the United States, the Platform as a Service Market within the Public Cloud Market is experiencing a surge in demand for low-code and no-code development platforms. These platforms allow businesses to quickly and easily build and deploy custom applications without the need for extensive coding knowledge. This trend is significant as it enables organizations of all sizes to leverage the benefits of the cloud without significant upfront costs. Additionally, it has potential implications for stakeholders as it could democratize application development and drive further growth in the public cloud market.

Local special circumstances: In the United States, the Platform as a Service Market within the Public Cloud Market is heavily influenced by the country's advanced technological infrastructure and high adoption rate of cloud-based services. Additionally, the presence of major tech giants and a thriving startup culture has led to a competitive market with innovative solutions. However, the market is also impacted by strict data privacy laws and regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which have a significant impact on how companies handle and store data.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in the United States is greatly impacted by macroeconomic factors such as technological advancements, government policies, and economic stability. The country's strong investment in cloud computing technology and infrastructure, along with its favorable regulatory environment, has contributed to the rapid growth of the PaaS market. Additionally, the increasing demand for digital transformation and the growing adoption of cloud-based solutions in various industries, including healthcare and finance, are driving the growth of the PaaS market in the United States. The country's stable economic conditions and high level of digitalization also play a significant role in the market's growth, as they provide a conducive environment for businesses to invest in cloud-based services.

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.