May 12, 2020 (Heraldkeepers) -- Overview
Global Enterprise High-Productivity Application Platform as a Service Market is expected to expand at a CAGR of 41.16% during the forecast period of 2019 to 2025.
High-productivity application platform as a service (HpaPaaS) solutions provide services for declarative, model-driven application design and development, and simplified one-button deployments. They typically create metadata and interpret that metadata at runtime; many allow optional procedural programming extensions.
High productivity application solutions enable collaboration and replacement of traditional software development processes through various features such as automation for design, versioning, testing, integration, deployment, etc. A high productivity application platform enables developers to efficiently build apps through collaborations and allows access to leverage prebuilt apps, development accelerators, marketplaces, communities, and others.
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As organizations are expanding their presence across the globe and with hundreds of employees across geographies, cross-border development teams are becoming ubiquitous. Enterprise high-productivity application platform solutions enable these development teams to collaborate and work on multiple projects across countries and time zones, simultaneously.
An application platform as a service is a cloud environment for designing, building, deploying, and managing customizable business applications. It is a single platform that enables speed, collaboration, and control across the entire application lifecycle. The application platform as a service solution enables rapid application development and delivery.
The adoption of the application platform as a service has gained pace due to the flexibility and efficiency in solutions offered by the cloud. Features such as one-click deployment to the public cloud, private cloud or on-premise, reusable app components for different projects, social collaboration tools, and feedback loops have encouraged the adoption of enterprise high productivity application solutions which contributes to the market growth.
Some of the Prominent Players in the Global Enterprise High-Productivity Application Platform as a Service Market are Quick Base, Outsystems, Mendix Tech BV, Appian Corporation, Kintone, Betty Blocks, AgilePoint Inc., Creatio, K2, ProntoForms Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., Pegasystems Inc., Kony, Inc., Bluefin Payments, Shift4 payments, and WePay.
The Global Enterprise High-Productivity Application Platform as a Service Market has been Segmented Based on Component, Deployment, Organization Size, Vertical, and Region. The market, by Component, has been segmented into software and services. By deployment, the market has been segmented into Application Platform-As-A-Service and On-premise. By organization size, the market is classified into SMEs and Large Enterprises and by vertical, the market is classified into BFSI, Government and Public Sector, Healthcare & Life Sciences, IT & Telecommunication, Consumer Goods & Retail, Education, and Others. The regions include North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Detailed Regional Analysis
Globally, Enterprise High-Productivity Application Platform as a Service Market is categorized into four different regions, namely North America, Europe, Asia-Pacific, Middle East & Africa and South America. North America was leading the Enterprise High-Productivity Application Platform as a Service market and Asia-Pacific is projected to grow with the highest CAGR during the assessment period.
North America leads the global enterprise High-Productivity application platform as a service market owing to factors such as advancements in digital technologies and high adoption rates of web-based and mobile-based applications by verticals such as BFSI, retail, and IT. Increasing demand for automated software and the presence of major vendors such as Mendix, Salesforce, Microsoft Corporation, and Oracle Corporation are further fueling the growth of the market in the region. Asia-Pacific enterprise high-productivity application platform as a service market is expected to grow at the highest rate with a CAGR of 43.56% during the forecast period. The growth of enterprise high-productivity application platform as a service market in Asia-Pacific is propelled by the demand for platform as a service and the increasing need to migrate from simple back-end functions to core business processes. Asia-Pacific has become one of the fastest-growing regions in terms of the adoption of the application platform as a service. South America enterprise high-productivity application platform as a service market is expected to grow with 40.90% CAGR during the forecast period. Vendors operating in the enterprise high-productivity application platform as a service market in South America is expected to register potential growth opportunities owing to the increasing adoption of cloud-based services across various verticals.
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