New York, NY -- (SBWIRE) -- 12/06/2016 -- With cloud-computing revolutionizing the way business' meandering through challenges of information technology infrastructure, cloud-based services are seen as an emerging paradigm for achieving end-to-end business transformation. Application platform as a service (aPaaS) is a cloud service that provides end users with the operating systems, hardware, network capacity or storage required over the cloud to develop new applications or run existing ones. It supports development as well as deployment environment for application services. Furthermore, application platform as a service leverages end-users from installing on-premise hardware and software to develop or run a new application. Application platform as a service offers considerable number of advantages. It reduces time to market by condensing project duration by more than half, enhances resource sharing across several project and facilitates higher employee productivity by reducing development effort considerably.

Application platform as a service market is segmented on the basis of end-user, deployment mode, service and region. By end-user, application platform as a service market can be segmented into small business, medium business and large enterprises. Application platform as a service market can be segmented according to deployment mode which includes private cloud, public cloud and hybrid cloud. On the basis of service, application platform as a service market can be segmented into implementation & integration service, maintenance service and consulting service. Regionally, application platform as a service market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.

With the phenomenon of "Application of Everything" spurring an app-dominated future, application platform as a service market is anticipated to witness healthy CAGR during the projected period. North America is the dominating region in application platform as a service market and is expected to remain dominant followed by Western Europe during the forecast period. Asia Pacific ranks as the fastest growing regional market for application platform as a service providers with robust growth of IT infrastructure as well as high development rate of corporate sector across countries like China, India, Philippines and others.

The growing capital investment on application development for mobile, web and enterprise promises significant growth opportunity for application platform as a service market. Technology advancements in PaaS services is poised to benefit the growth of application platform as a service market. Furthermore, gaining popularity of cloud-based services is further expected to buttress the maturation of application platform as a service market during the projected period. However, risk of vendor lock-in, which bars the end-users from migrating their application to other vendor's platform, is expected to hinder the growth of application platform as a service market amidst the forecast period 2016-2026.

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The key vendors in the application platform as a service market include Microsoft Corporation, Salesforce.com Inc., IBM Corporation, Mendix Inc., Progress Software Corporation, Red Hat Inc., SAP SE, Engine Yard Inc., Software AG, Miosoft Corporation and others. Major vendors in the application platform as a service market follow the strategy of mergers and acquisitions to increase global footprint. In addition, strategic partnerships with major cloud-based integrators is the other strategy followed by the application platform as a service providers to gain competitive edge.

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