Global platform as a service (PaaS) market is projected to witness a CAGR of 18.31% during the forecast period 2024–2032F, growing from USD 120.07 billion in 2024 to USD 460.90 billion in 2032. The global PaaS market is experiencing significant growth in demand due to the continuous enhancements in mobile application development. PaaS provides a cloud-based environment allowing developers to build, deploy, and manage applications without underlying infrastructure concerns, which benefits the mobile application developers to develop innovative solutions instead of managing backend complexities.

Furthermore, the surge in demand for smartphones has significantly increased the need for new applications, prompting enterprises to leverage PaaS solutions for efficient app development, thereby, adding value to the global platform as a service market. As of 2024, globally, there are around 7.21 billion smartphone users, representing about 90% of the world’s population. Also, 97% of young adults aged 18 to 49 own a smartphone in the United States, of which 83% are urban residents compared to 65% in rural residents. Therefore, the continuous growth in smartphone users is estimated to drive global demand for the platform as a service (PaaS) market.

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Widespread Adoption of Digital Payments Drive the Global Platform as a service (PaaS) Market

The major factor that encouraged the platform as a service (PaaS) market globally includes the increased use of digital payments. As the world transitions from cash to digital alternatives, there’s a growing demand for durable, reliable and cost-effective payment platforms. Platform as a service (PaaS) provides developers with the necessary resources to develop, deploy, and maintain applications that enable digital payments.

Platform as a service (PaaS) offers a secure and efficient environment for developing digital payment systems while addressing regulations, further driving its global demand. With PaaS, organizations can ensure that payment applications are secure and easily scaled to handle high transactional volumes. Additionally, platforms such as service (PaaS) solutions facilitate the fast and dynamic evolution of new payment features and services, assisting businesses in playing a competitive role in the dynamic digital payment environment. Furthermore, the continuous growth in e-commerce culture is proliferating the applications of digital payments and henceforth driving the global platform as a service (PaaS) market.

In January 2025, the European Court of Auditors’ special report stated that the region has experienced robust growth in digital payments. In Europe, the value of digital payments for retail sales reaches more than USD 1.04 trillion (EUR 1 trillion) annually, which doubled between 2017 and 2023. The government is adopting various measures to facilitate the smooth functioning of digital payments, which is crucial for the functioning of Europe’s internal market, especially across borders.

Advancements in Technology Proliferate the Global Platform as a service (PaaS) Market

The growing technological advancements are pivotal to expanding the global platform as a service market. Modern technologies, such as cloud computing, artificial intelligence (AI), and machine learning (ML) are transforming the approaches followed by companies, and applications used by developers. These advanced technologies serve as a key enabler of a more efficient, scalable, and intelligent platform as a service (PaaS) solution offering to global organizations.

Furthermore, internet technology has enabled platform as a service (PaaS) to become affordable and accessible, allowing enterprises to implement applications with minimal infrastructure costs. The integration of AI & ML into the platform as a service (PaaS) enhances their capabilities by providing automation, predictive analytics, and improved decision-making. This technological integration is expected to push the use of the platform as a service (PaaS) for businesses as they seek to be strategic by offering innovative solutions to existing and emerging challenges. Also, innovations in containerization and microservices architecture are fostering the PaaS platforms to provide a better solution.

For instance, in April 2024, MultiTV Tech Solution Pvt. Ltd led the way in technological innovation for event live streaming in the UAE with its advanced Video Platform as a Service (PaaS) solution.

North America Holds a Considerable Share of the Global Platform as a Service (PaaS) Market

North America’s platform as a service (PaaS) industry holds a significant share of the global platform as a service (PaaS) market for reasons, including advanced technology, robust cloud infrastructure, and high adoption rates among regional enterprises. The concentration of major cloud service providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP), in the region is significantly driving the global platform as a service (PaaS) market.

North American markets are relatively robust, encouraging large budgets for research and development, which is crucial for the steady enhancement of platform as a service (PaaS) technology. Furthermore, North America has a developed IT facility and internet credits make deploying a platform as a service (PaaS) solution easier. There are things that businesses, specifically in finance, health, and retail sectors do with the platform as a service (PaaS) technology, organizations cut costs to improve efficiency in their processes and make applications faster to produce. Also, technological advancement in the platform as a service (PaaS) and government support towards cloud deployment and other digitalization activities affect the growth of the North American platform as a service (PaaS) market.

The North American government, primarily the United States, has significantly invested in cloud technology. For instance, in the fiscal year 2025, the federal IT budget for cloud-related requested USD 8.3 billion, which marked an increase from years before, considering the growing relevance of cloud technology in government operations.

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Future Market Scenario (2025–2032F)

• One of the key trends observed in the PaaS market is the growing demand for digital payments. PaaS provides developers with all the necessary components to build applications supporting digital payment systems while ensuring their efficacy and scalability.
• Factors such as the advancement in cloud computing, and AI and ML services are crucial to the growth of the PaaS market. These developments make PaaS solutions more efficient, intelligent, and scalable to promote their business use.
• The increasing internet use for purchases drives more people to adopt digital payments, boosting demand for PaaS solutions. PaaS is the key to developing secure and efficient digital payment systems which help businesses remain relevant in the market.
• North America holds a significant share of the market for PaaS due to factors such as advanced technology, well-developed cloud infrastructure, and high demand. This growth is attributed to high investment in research and development budgets in the region and government support towards cloud technology.

Report Scope

“Global Platform as a Service (PaaS) Market Assessment, Opportunities, and Forecast, 2018–2032F”, is a comprehensive report by Markets and Data, providing an in-depth analysis and qualitative and quantitative assessment of the current state of global platform as a service (PaaS) market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

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