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Nearly 50 % of PaaS Offerings Are Now Cloud-Only : Gartner

In a recent study Gartner has said that nearly half of today’s platform as a service (PaaS) service offerings are cloud only. Currently, there are more than 360 vendors across 21 market segments, delivering more than 550 PaaS offerings. 48% of these offerings are cloud-only and 90% of them only operate within a single PaaS market segment.

“Business and technology leaders are shifting to strategic investment in cloud computing,” said Yefin Natis research vice president and analyst at Gartner. “Cloud computing is one of the key disruptive forces in IT markets that is gaining mainstream trust.”

“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,” said Mr. Natis. Enterprise IT spending for cloud-based offerings will surpass spending for noncloud IT offerings by 2022, according to Gartner.

The total PaaS market revenue is forecast to reach $20 billion in 2019, and to exceed $34 billion in 2022, according to the latest forecast from Gartner. In this shift to cloud, database and application platform services represent the largest market segments, with blockchain,digital experience, serverless and artificial intelligence/machine learning(AI/ML) platform services as the newest.

(Image Courtesy: www.hitinfrastructure.com)

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