The global Application platform software market size was USD 10.23 Billion in 2021 and is expected to register a revenue CAGR of 7.6% over the forecast period, according to the latest report by Reports and Data.

One of the primary drivers of the worldwide Application platform software market share growth is the increasing usage of cloud-based services. PaaS solutions allow Small and Medium Enterprises (SMEs) acquire the resources they need on demand, such as hardware, middleware, operating systems, software, and resources. Organizations require significant CAPEX and OPEX expenses to acquire, operate, and set up their data centres. They are accomplishing this through the usage of cloud platforms, which allow cost transfers from CAPEX to OPEX, cheaper setup and staff expenditures, and lower expansion costs. Any type of data may be easily connected with cloud-based systems, allowing for the creation of data-centric applications.

Users of the application will now have a more connected experience as a result of this aspect, which will provide them with fast access to relevant contextual information. Organizations that utilise cloud-based solutions have the benefit of adopting a single, all-purpose framework as needed and only paying for what they need, allowing them to avoid being reliant on a specific web application development framework. This allows organisations to deploy applications or products more quickly and reduces the additional expenses involved with establishing several platforms. For example, during VMware Explore 2022 Europe in Barcelona in November 2022, VMware introduced VMware Cloud on Equinix Metal. This new distributed cloud service will offer a more efficient, secure, and cost-effective cloud option for corporate applications.

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The increasing adoption of cloud-based services, particularly Platform-as-a-Service (PaaS) solutions, is indeed a significant driver behind the growth of the global Application platform software market. Small and Medium Enterprises (SMEs) are leveraging PaaS solutions to access on-demand resources such as hardware, middleware, operating systems, and software. Traditionally, organizations had to bear substantial capital expenditure (CAPEX) and operating expenditure (OPEX) costs to purchase, operate, and set up their own data centers. By using cloud platforms, companies can shift their costs from CAPEX to OPEX, reduce setup and personnel expenses, and lower overall growth costs.

Cloud-based systems offer easy integration with various data sources, enabling the development of data-centric applications. This integration capability enhances the connected experience for users by providing timely access to relevant contextual information. Moreover, organizations utilizing cloud-based solutions benefit from a flexible and versatile framework that can be tailored to their specific needs. They only pay for the resources they actually use, which eliminates the dependence on a particular web application development framework. This agility allows businesses to launch applications or products more rapidly and reduces the additional costs associated with building multiple platforms.

As an example, in November 2022, VMware announced VMware Cloud on Equinix Metal at the VMware Explore 2022 Europe event in Barcelona. This distributed cloud service aims to provide a more efficient, secure, and cost-effective solution for hosting corporate applications.

Component Outlook (Revenue, USD Billion; 2019-2030)

• Software

• • Application platform software software
  • Transaction processing monitor software

• Services

• • Deployment & Integration
  • Support & Maintenance

Operating System Outlook (Revenue, USD Billion; 2019-2030)

• Android
• IOS
• Windows
• Others

Application Outlook (Revenue, USD Billion; 2019-2030)

• Database and cloud security
• Email security
• Network security
• Web security
• Others

Organization Size Outlook (Revenue, USD Billion; 2019-2030)

• Small and medium enterprise
• Large enterprise

Deployment Type Outlook (Revenue, USD Billion; 2019-2030)

• Cloud
• On-premises

End-Use Outlook (Revenue, USD Billion; 2019-2030)

• BFSI
• Healthcare
• Retail
• Transportation & logistics
• Media & Entertainment
• Others

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Key Regional Markets Covered in the Report:

·       North America (U.S., Canada, Mexico)

·       Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)

·       Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)

·       Latin America (Chile, Brazil, Argentina, Rest of Latin America)

·       The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Top Companies Operating in the Global Application platform software Market:

IBM, SAP, Oracle, Adobe, Microsoft, NEC Corporation, Micro Focus, Fujitsu, Hitachi, Ltd., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Red Hat, Inc., Salesforce Inc., GigaSpaces, Google.

Some Key Highlights from the Report

·       The worldwide Application platform software market is divided into database and cloud security, email security, network security, online security, and others. In 2021, the database and cloud security area generated the most revenue. Database solutions provide a wide range of managed data and analytics services. Using a hybrid, open-source approach, these solutions address the data-intensive needs of application developers, data scientists, and IT architects. Hybrid databases build a distributed hybrid data cloud to increase performance, reach, uptime, mobility, and cost effectiveness.

·       According to geographical study, the North American market will account for the greatest revenue share in 2021. This expansion might be ascribed to the established technology market in the United States. According to studies, the IT business in the United States has a greater economic effect than other well-known areas such as construction, retail, and transportation. Furthermore, increased demand and the need for speedy software service delivery are a trend of rising technological investment. For example, investing in the software and service sectors in the United States market is feasible because it has the necessary platforms and infrastructure, a big installed base of users with connected devices, and the bandwidth required for these devices to communicate with one another.

·       Google Cloud will launch its Business Application platform software, which is based on Apigee and AppSheet, in September 2020. As part of this strategy, Google is delivering many brand-new features for both services today. For example, the company is releasing the beta version of a new API Gateway built on top of the open-source Envoy project. This fully managed solution is intended to simplify the protection and administration of APIs across Google's server-less products, such as Cloud Functions and Cloud Run, as well as cloud computing services from other providers.

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