IoT technology is being increasingly implemented across industries. Most IoT-centric solutions are implemented on PaaS platforms such as application PaaS (aPaaS) and integration PaaS (iPaaS), which is expected to boost the demand for PaaS cloud. Additionally, PaaS is used for IoT device management, orchestration, and business process management Platform-as-a-Service (bpmPaaS), database Platform-as-a-Service (dbPaaS) and analytics services.

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Top 10 Companies in Platform-as-a-Service Market | Meticulous Blog

The Platform-as-a-Service market is projected to reach $227.5 billion by 2030, at a CAGR of 16.8% during the forecast period 2023–2030