Enterprise High-Productivity Application Platform as a Service (HPaPaaS) Market Worth USD 123.57 Billion By 2030 – Report by Market Research Future (MRFR)
Rapid Application Development Activities Drive the HPaPaaS Market
New York, US, Feb. 07, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), Global Enterprise HPaPaaS Market Research Report By Component, By Deployment, By Organization Size, By Vertical market is poised to reach USD 123.57 BN by 2030, growing at a 36.09% CAGR throughout the review period 2020-2030.
Enterprise HPaPaaS Market Overview:
The enterprise high-productivity application platform as a service market witnesses rapid revenue growth. The growing use of customized applications in various production processes across industry verticals offers robust opportunities. Today, several organizations are considering investing in CRM technologies, creating a greater demand for enterprise high-productivity application platforms.
Enterprise High-Productivity Application PaaS Market Competitive Analysis
The fiercely competitive HPaPaaS market appears fragmented, with many technology providers forming a competitive landscape. They make substantial investments to transform the future business landscape. Also, they incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product & technology launches to gain a larger competitive share.
Players leading the global HPaPaaS market include –
- Shift4 payments
- Bluefin Payments
- Pegasystems Inc.
- Kony, Inc.
- Salesforce.com Inc.
- Microsoft Corporation
- Oracle Corporation
- ProntoForms Corporation
- AgilePoint Inc.
- Betty Blocks
- Mendix Tech BV
- Appian Corporation
- Quick Base.
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Enterprise high-productivity application platform as a service (HPaPaaS) enables business developers to build enterprise applications rapidly, providing tools offered as a service with rapid deployment and composite capabilities. In addition to offering deployment methods, low-code, and delivery mechanisms, HPaPaaS’ overlapping capabilities can interchangeably form a neutral point of view.
Enterprise HPaPaaS Market Report Scope:
|Market Size by 2030||USD 123.57 Billion|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Drivers||The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period.
It also throws light on the different market segments for a comprehensive understanding of the reader.
Browse In-depth Market Research Report (152 Pages) on Enterprise HPaPaaS Market:
Enterprise high-productivity application platforms employ a visual, model-driven approach that helps DevOps teams and professional developers to build and deploy apps with reduced time and development costs. HpaPaaS streamlines the development process by offering the full transparency, openness, and control that developers require. This approach is proven to value lower while offloading the burden on IT development organizations.
The HPaPaaS platform makes it possible to have high productivity and control over app resources and support DevOps with scalability. Visual modeling tools cover web and mobile app development, including responsive user interfaces, domain models & business logic. Also, it allows developers to receive instant feedback on app performance and collaborate with business users in real time.
Some HpaPaaS platforms can be highly sophisticated and are open to creating simple form-based apps. They leverage full mobile capabilities and advanced technologies like machine learning and IoT applications, allowing visual developers to access various app templates and components. Thus, they allow professional developers to extend their organizations’ building blocks by creating custom extensions.
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Rising demand for HPaPaaS solutions to address the growing needs of automation tools for each phase of traditional SDLC, including design requirements, versioning, testing, integration, deployment, etc., drives the market growth. Besides, the proliferation of cloud computing predominantly boosts the market size. Increased funding support from government and private organizations accelerates market shares.
Moreover, rapid digital transformation in SMEs and large organizations has led to the adoption of cloud platforms, and critical cloud applications substantiate the market size. Additionally, the growing demand for enterprise high-productivity application platforms as a service boosts market revenues. Furthermore, increasing cloud applications and analytics create substantial demand for HPaPaaS.
With powerful HpaPaaS tools, the chances of developing efficient applications are fairly higher. Even though adopting HpaPaaS platforms can benefit companies greatly, the market still needs to catch up. The major among them is the need for proper expertise, policies, guidelines, and principles that make adopting HpaPaaS platforms challenging.
Moreover, unexpected errors the platform might exhibit while encountering almost similar solutions, poor quality applications, unclear location of relevant data, and the absence of access control pose significant challenges to market growth. Also, inadequate infrastructure makes it impossible to adopt HpaPaaS platforms. Nevertheless, growing application developments would majorly contribute to the adoption of HpaPaaS development platforms.
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The HPaPaaS market is segmented into components, deployments, industries, enterprise size, and regions. The component segment is sub-segmented into software and services (implementation & integration, support & maintenance, and others). The deployment segment is sub-segmented into on-premise and cloud-based. The on-premise or aPaaS (application Platform as a service) deployment method is the most common; the segment holds a larger market share.
In terms of organization sizes, the HPaPaaS market is segmented into large enterprises and SMEs. The industry segment is sub-segmented into IT & telecom, Retail & E-commerce, BFSI, Automobile, Healthcare, Manufacturing, Logistics & transportation, and others. The region segment is sub-segmented into the Asia-Pacific, Americas, Europe, and rest-of-the-world.
North America dominates the global enterprise high-productivity application platform as a service market. The region offers a favorable platform for HPaPaaS solutions and services to evolve further with its vast technological advancements. Besides, the early adoption of HPAPAAS in large, small & medium-sized enterprises and the rising cloud security infrastructures drive the market growth.
The strong presence of key technology providers like Salesforce.com, Inc., Microsoft Corporation, and Oracle Corporation, alongside the rapidly growing BFSI and retail & e-commerce sectors in this region, boosts the market size. Moreover, developments in cloud security measures and authentication frauds foster the implementation of HPaPaaS solutions across the region.
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