According to Gartner, 48% of over 550 platform-as-a-service (PaaS) currently available from 360 vendors across 21 market segments are cloud-only, with not a single vendor having a foothold across all 21 segments and 90% only operating within a single PaaS market segment.
“Business and technology leaders are shifting to strategic investment in cloud computing,” the analyst says. “Cloud computing is one of the key disruptive forces in IT markets that is gaining mainstream trust. Although many organisations 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.”
Gartner adds total PaaS market revenue will reach $20 billion in 2019, before exceeding $34bn in 2022. database and application platform services make the largest market segments in such a shift to the cloud, while blockchain, digital experience, serverless and artificial intelligence/machine learning (AI/ML) platform services as the newest.
In addition, enterprise IT spending for cloud-based offerings is set to surpass spending for non-cloud IT offerings by 2022, at least according to the analyst.