The public platform-as a service (PaaS) market is set to almost double in the next four years, according to new research.
The International Data Corporation (IDC) has predicted that interest in app development and the reduction of IT costs will see the worldwide PaaS market increase from $8.3 billion (£5.2 billion) to $14 billion (£9 billion) by 2017.
The IDC study forecasts that the advances being made in social, mobile, and real-time contextual activities mean that the opportunities for monetising public PaaS functionality seem "almost unlimited."
"By 2017, public PaaS will account for over 10 per cent of overall application development and deployment revenue," the study claims. "With strong growth occurring in every region of the world, especially in the Asia/ Pacific (including Japan) region".
Although growth in the PaaS market in In Europe, the Middle East and Africa (EMEA) is expected to continue in the next few years, IDC predicts that the revenue share will fall to 18.7 per cent in 2017, from 20.7 per cent in 2012.
The rise in spending on PaaS by firms has been attributed by the IDC to "indications of faster acceptance of the competitive PaaS buying proposition and new information concerning past years, particularly related to the acceptance of and market penetration of Microsoft Azure."
Robert Mahowald, co-author of the study and program vice president for SaaS and cloud software research, said: "The compound annual growth rate for the worldwide public PaaS 2013–2017 forecast is almost 30 per cent.
"The 46.2 per cent growth in the public PaaS market in 2012 suggests an exciting future for the worldwide public PaaS market."