Gartner Predicts PaaS Market Will Be Worth $2.9B by 2016

Market researcher firm Gartner has released a new report which predicts the platform as a service (PaaS) segment of the cloud computing industry is about to take off. Last year, the PaaS market was worth $900 million. This year, Gartner says PaaS will be worth $1.2 billion, and the firm forecasts that the market will climb to $2.9 billion by 2016.

According to Gartner’s Fabrizio Biscotti, “Of all the cloud technological aspects, infrastructure as a service (IaaS) and software as a service (SaaS) are the most mature and established from a competitive landscape perspective, while PaaS is the least evolved.” He added, “For this reason, PaaS is where the battle between vendors and products is set to intensify the most. It comes as no surprise that the PaaS competitive landscape is still in flux, with traditional application infrastructure vendors facing competition from new large players moving into the market, and myriad specialized PaaS pure players cutting into their slice of profits.”

According to Gartner, U.S. spending accounts for 42 percent of the PaaS market.

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