target audience: TECH SUPPLIER Publication date: Jun 2023 - Document type: Market Forecast - Doc Document number: # EUR150858523
European Public Cloud Platform-as-a-Service Forecast, 2022-2027
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Abstract
The economic climate in Europe led to slightly slower-than-anticipated growth in spend for public platform as a service (PaaS) in 2022 as well as downward adjustments for 2023 and 2024 relative to IDC's forecast exercise of May 2022. But despite these adjustments, growth in public PaaS remains very aggressive as organizations cannot afford to lower their guard in terms of software development and delivery capabilities. Having a competitive app development capability will have strategic consequences for organizations in the marketplace in the long term.
Under such assumption and based on the spending trajectory of past years, IDC forecasts the market will expand by $6.2 billion to move past $25 billion in 2023. Peering out mid to long term, with software becoming foundational for many businesses and industries from a competitive perspective, IDC projects spending will move past $70 billion by 2027.
This IDC Market Forecast report provides a detailed view on the key spend areas (by domain and geography) for public PaaS in Europe between 2022 and 2027.
"It is hard to imagine that businesses can survive in the marketplace without capable app development and delivery capabilities five years down the road. Some have argued that software has already eaten up the world. Even within the context of 2023-2024, not being able to ship software in a secure, cost-effective, streamlined, and customer-/product-centric fashion is already having a degradation cost on organizations in virtually every industry and corner of the market. Platform as a service is not the silver bullet to turning organizations into software powerhouses, but it can help as a foundation for growing competitiveness in software development and delivery," said George Mironescu, research lead, App Dev/Delivery in Europe.