Platform as a Service (PaaS) Market Size Expected To Grow To $164.3 Billion By 2026

PALM BEACH, Fla., Jan. 6, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The Platform as a Service (PaaS) market consists of sales from cloud-based platform services. PaaS is a cloud computing model that provides a platform to the customers to develop, run and manage applications over the internet. Revenue in the market is generated by the companies by way of subscriptions and licenses from web/software developers or other business households. There are four different types of PaaS which can be classified as computing platforms, web applications, business application and social applications. The global revenue of this industry is the cumulative revenue of all the companies engaged in providing any of the above services. Some of the Paas providers are Salesforce, Heroku, Amazon Web Service (AWS), Elastic Beanstalk and Microsoft Azure etc.  A report from ResearchAndMarkets said: "Companies in the industry are increasingly preferring hybrid cloud solutions to increase efficiency, innovation, and reduce costs. Hybrid Cloud refers to a cloud infrastructure environment that is a mixture of private cloud, on-premises computing and public cloud solutions. Platform as a service providing companies in the industry are leveraging this technology to enhance their agility, capability, increase development & deployment speed, and reduce IT costs."   Active companies in the markets today include:  Mobiquity Technologies, Inc. (NASDAQ: MOBQ), The Trade Desk (NASDAQ: TTD), Inuvo, Inc. (NYSE: INUV), Magnite (NASDAQ: MGNI), Tremor International Ltd. (NASDAQ: TRMR).

A report from MarketsAndMarkets added: "The Platform as a Service Market size is expected to grow from USD 56.2 billion in 2020 to USD 164.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period.  Key factors that are expected to drive the growth of the market are the increasing need to reduce time to market and cost of application development and focus on streamlining application management. However, cloud washing hindering the growth of PaaS, and security concerns related to the adoption of public cloud are expected to limit the market growth. Apart from drivers and restraints, there are a few lucrative opportunities for PaaS providers in the market. The rapid development of the mobile app ecosystem and the emergence of video communication PaaS are some of the opportunities for vendors in the PaaS Market. These opportunities are expected to present new market growth prospects for PaaS vendors."

Mobiquity Technologies, Inc. (NASDAQ: MOBQ) BREAKING NEWS: Mobiquity Technologies, Inc. Appoints Chief Operations Officer - Industry leader, Don Walker "Trey" Barrett will provide strategic leadership as the company pursues growth opportunities -  Mobiquity Technologies, Inc. (the "Company"), a leading provider of next-generation advertising, today announced that it has appointed Don Walker "Trey" Barrett, III to the role of Chief Operations and Strategy Officer, effective January 4, 2022.

Mr. Barrett most recently served as Chief Operating Officer for NYSE listed Inuvo Corporation ("Inuvo"). As COO of Inuvo, Mr. Barrett was responsible for the global operations of IT, Sales, Product, Engineering, Marketing and Accounts Services.  During Mr. Barrett's tenure at Inuvo, he managed the company's operations during significant revenue growth ($20 million a year to over $61 million) and personnel development and led several M&A integrations.

Mr. Barrett has over 35 years of data driven direct marketing and company leadership experience that has been focused on developing, marketing, and delivering technology-driven business services and solutions, providing outstanding client service, driving profitable revenue growth and creating a world class work environment for associates.

"The new role of Chief Operations and Strategy Officer reflects our commitment to significant growth and continuous improvement for our businesses. Trey is a seasoned and trusted leader who consistently delivers results.  He is uniquely qualified to drive strategic prioritization and accountability within Mobiquity, with a laser-focus on operational excellence," said. Dean Julia, CEO of Mobiquity Technologies. "I have tremendous confidence in Trey's ability to align Mobiquity's innovative advertising and data platform with operational practices to drive growth. Trey's deep knowledge of ad tech industry and his operational experience, uniquely positions him to implement our strategic plan, while also maintaining our shared focus on delivering business results."

"Mobiquity's strategy has never been more compelling, and our team will be highly focused on  winning customers and growing the business," said Barrett, "I am incredibly excited to join the Mobiquity team and energized to help lead the Company in its next phase of innovation, growth and operational excellence." CONTINUED… Read the Mobiquity Technologies full press release by going to: https://mobiquitytechnologies.com/press-and-news/

In other news and developments of note in the markets this week: 

The Trade Desk (NASDAQ: TTD), a Global advertising leader, recently announced that the Unified ID 2.0 initiative has expanded into the Southeast Asia market as leading over-the-top (OTT) players announce their support. Initially developed by The Trade Desk, Unified ID 2.0 is a new, privacy-conscious identifier built from hashed and encrypted email addresses. Designed from the consumer's perspective, Unified ID 2.0 is a new industry-wide approach to internet identity that aims to preserve the value of relevant advertising, while putting control for consumers and privacy at the forefront.

Leading OTT players in Southeast Asia have prioritized the use of Unified ID 2.0 to preserve the free flow of content in exchange for relevant advertising including regional OTT platforms iQiyi, TrueID, WeTV/iflix; FPT Play and VTV Giai Tri (VTVE) in Vietnam; and Indonesia's largest local OTT platform, Vidio. Unified ID 2.0 empowers publishers to pseudonymize their first-party data and allows for advertisers to optimize their first-party customer data and measure their media investments without third-party cookies.

Inuvo, Inc. (NYSE: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, recently announced its financial results for the third quarter and nine-month periods ending September 30, 2021.

Richard Howe, CEO of Inuvo, stated, "Revenue for the third quarter grew 83% year-over-year and 33% sequentially driven by significant growth in both platforms. We signed in excess of $10 million worth of IntentKey orders within the quarter that we expect to deliver over a nine-month period beginning in the fourth quarter and as we had been messaging throughout the year, we achieved a positive Adjusted EBITDA in September. We expect to continue growing throughout the last quarter of 2021."

Inuvo experienced higher year-over-year revenue for the three and nine months ended September 30, 2021 as compared to the same periods in 2020. Net revenue for the third quarter and first nine months ended September 30, 2021 totaled $16.8 million and $40.1 million, respectively, an increase of 82.8% and 26.3% as compared to $9.2 million and $31.7 million for the same period the prior year.

Magnite (NASDAQ: MGNI), the world's largest independent omnichannel sell-side advertising platform, recently announced it is bringing on the team from Nth Party, a startup developing cryptographic software for secure audience data sharing and analysis. The move reinforces Magnite's ongoing commitment to build leading identity and audience solutions for sellers and buyers. Under the terms of the deal, Nth Party's team of 7 employees, including 5 engineers, will report to Magnite's Vice President of Engineering Robert Lyons. Financial terms were not disclosed.

"First-party audience data is becoming increasingly important to the future of advertising. The seasoned Nth Party team will accelerate our existing data activation efforts immensely," said Adam Soroca, Chief Product Officer at Magnite. "Our teams share the same principles around data compliance and safety, and Nth Party's approach to handling audience data in a secure and privacy-centric way will continue at Magnite."

Tremor International Ltd. (NASDAQ: TRMR), a global leader in Video and Connected TV ("CTV") advertising, offering an end-to-end technology platform that enables advertisers to reach relevant audiences and publishers to maximize yield on their digital advertising inventory, recently announced its financial results for the three- and nine-months ended September 30, 2021.

"I'm pleased to report another record quarter, the strongest in Tremor's history," said Ofer Druker, Tremor's Chief Executive Officer. "Core to this performance is the strength of Tremor's end-to-end technology and business platform, highlighted by a focus on CTV, which covers the three pillars of our business: DSP, DMP and SSP. Our end-to-end technology platform provides simplicity for our customers, better data empowerment for advertisers and media partners, and is accelerating the industry's move towards supply path optimization. Our core growth driver for the quarter was in CTV services, and our revenues grew 55% organically year-over year compared to Q3 2020."

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