Revenue for platform-as-a-service offerings is expected to grow by one-third this year to $1.2 billion, according to Gartner, which forecasts that the PaaS market will hit $1.5 billion next year and $2.9 billion in 2016. Despite the growth, the segment is still dwarfed by the software-as-a-service market, which is expected to total $14.5 billion in 2012, Gartner says. IBM and Microsoft are the largest vendors in PaaS, but other contenders could emerge in the next three years, Gartner says.

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