“Tipping point in cloud Platform-as-a-Service (PaaS) is almost complete,” said Gartner in recent 2019 report, citing its survey that covered 550 PaaS offerings from 360 vendors across 21 market segments.
In its survey, the research firm brought some interesting revelations about the global PaaS market.
It said almost half of today’s PaaS offerings are cloud-only and projected a USD 20 billion (£15.02bn) market revenue for PaaS by the end of 2019.
The survey found more than 48 percent of PaaS offerings being cloud-only and 90% operating within a single PaaS market segment.
This trend expected to take the overall PaaS market revenue from USD 20 billion to USD 34 billion by 2022, Gartner adds.
According to Gartner, the pace of PaaS market revenue has aggravated since 2016 (almost USD 3 bn) as part of a wider market acceleration.
PaaS accounted to only 8 percent of the global public cloud market. However, nature of what the PaaS market comprises is changing.
Cloud analysts’ predictions in 2013 indicated high maturity and an all-round expansion for PaaS over the next couple of years since then, from beyond business-level services to offer application-level ecosystem services.
According to Gartner’s latest focus, the latest abstraction for platform services and applications are blockchain, digital experience, serverless, and artificial intelligence and machine learning.
“Although many organizations anticipate a long-term retention of on-premises computing, the vendors of nearly half of the cloud platform offerings bet on the prevailing growth of cloud deployments and chose the more modern and more efficient cloud-only delivery of their capabilities,” says Yefim Natis, Research Vice President and Distinguished Analyst at Gartner.
So, where PaaS stands then?