Cloud computing platform-as-a-service (PaaS) is defined as a model in, which 3rd party providers delivers hardware and software tools for those needed for the application development to users over the Internet. Scalable, highly available, easy migration to hybrid model, cost effective development and deployment of applications are some of the benefits offered by cloud computing platform-as-a-service.
In addition to this, the company purchase the resources that is needed from a cloud service provider on a pay as you go basis and access them over a secure internet connection and thus reduces the operation cost. Organizations would be able to avoid the expenses and complexity of buying and managing software license, underlying application infrastructure, middleware and other tools with the implementation of platform-as-a-service model.
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Rise in the adoption of cloud-based technology, increased usage of Internet of Things, growing demand for application development platforms, and technological improvement in platform-as-a-service are some of the major key driving factors of this market. In addition to this, new application developments and product designs, falling prices of cloud computing platform-as-a-service are also some of the factors to influence the growth.
However, limited flexibility, data security and lack of customer capability are some of the factors, which may hinder the growth of the market. Furthermore, new feature addition, shift towards open PaaS and winning IAAS market through PaaS and government to promote digitalization are some of the factors through, which lucent opportunities are expected.
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The enterprises are migrating significant processing, systems of engagement and systems of insight to the cloud thus raising the adoption to a very high rate from the past few years. Small and medium enterprise are majorly adopting the cloud technology as it reduces the complex of basic offers decreased infrastructure cost with increased operational efficiency and efficient delivery of services are some of the major key driving factors of this market.
In addition to this, Organizations are also trying to adopt the cloud computing platform-as-a-service market. Government are also adopting cloud technology due to the benefits like enhanced storage, disaster recovery, identity access management and risk compliance management.
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The key players profiled in the report include Amazon web services, Salesforce Platform, IBM Corporation., Red Hat Inc., EMC Corporation., AT&T Inc., Microsoft Corporation., Google Inc., Oracle Corporation, SAP SE Inc.
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