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PaaS also continues to grow

While most of the attention on the cloud's growth has been focused on Software-as-a-Service, other sectors are also poised for growth in the coming years. According to a new report from Gartner, the global Platform-as-a-Service market is set to achieve more than $707 million in revenue by the end of 2011.

Initially, PaaS products were meant to support application server capability. However, the market has expanded to contribute to other capabilities, including process management, integration and managed file transfers. As the technology continues to develop, PaaS will soon become one of the upper layers of the cloud market.

"As PaaS suites mature, they may emerge as critical enabling technologies for many cloud-based businesses," said Fabrizio Biscotti, the research director at Gartner. "At the same time, as companies adopt these platforms, the providers of the platforms will likely leverage them to expand their ecosystem, leverage their natively developed application services or extend their on-premises solutions."

According to a study by The 451 Group, the cloud computing market in the United States will reach $16.7 billion in revenue by 2013. Although a major catalyst to this will be SaaS, PaaS will continue to develop and also contribute.

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