New York, US, March 14, 2023 (GLOBE NEWSWIRE) -- Market Analysis
According to a comprehensive research report by Market Research Future (MRFR), “Mobile Backend as a Service Market By Service Type, By Operating System, By Organization Size, By Application - Forecast 2030”, the market is predicted to thrive substantially during the assessment era from 2021 to 2030 at a healthy CAGR of approximately 64% to attain a valuation of around USD 87 Billion by the end of 2030.
Mobile Backend as a Service Market Competitive Analysis
Eminent industry players profiled in the mobile backend as a service market report include:
- Microsoft KII Corporation
- Kinvey Appcelerator
- IBM Corporation
- Oracle Corporation
- Kony AnyPresence Built.IO Backend
- Kony Oracle Corporation
- CloudMine
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Mobile BaaS Market Report Scope:
| Report Metrics | Details |
| MBaaS Market Size by 2030 | USD 87 Billion (2030) |
| MBaaS Market CAGR during 2021-2030 | 64% |
| Base Year | 2020 |
| Forecast | 2021-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The development in the number of portable applications and an expanded selection of MBaaS administrations among the SMEs and the undertakings gives the market a chance to develop |
Market Drivers
Increasing Use of Smartphones Worldwide to Boost Market Growth
Smart device adoption has considerably increased in recent years. Mobile gadgets, such as smartphones, wearables, and laptops have become increasingly popular in recent years, largely because of their portability and improved functionality. The usage of mobile devices is expected to increase, especially among people between the ages of 18 and 40. The adoption of the cloud services & infrastructure, the pace of social media penetration by area, the number of smartphone users in the world's most populous countries, and the volume of smartphone-based international data traffic are all increasing at an exponential rate. Thus the increasing use of smartphones worldwide will boost market growth over the forecast period.
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Market Opportunities
Improvement of Cloud-Based Application to offer Robust Opportunities
The improvement of cloud-based applications will offer robust opportunities for the market in the forecast period. Applications like music streaming, gaming, video streaming, health apps, & other applications that require real-time data are driving the demand for cloud backend as a service. These tools are used to give users a consistent and seamless experience by assisting in the user experience optimization process.
Market Restraints and Challenges
Privacy and Safety Concerns to act as Market Restraint
The privacy and safety concern issues for business procedures and confidential data and high initial investment cost may act as market restraints over the forecast period.
Market Segmentation
The global MbaaS market is bifurcated based on service type, operating system, organization size, and application.
By service type, data & application integration will lead the market over the forecast period.
By operating system, Android will domineer the market over the forecast period.
By organization size, large enterprise will spearhead the market over the forecast period.
By application, health will have the lions share in the market over the forecast period.
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COVID-19 Analysis of MbaaS Market
The sudden closure of businesses, educational institutions, and genuine retail stores has greatly disrupted the current scenario. This has led to a rise in demand for administrative and working settings that use computers. As the COVID-19 epidemic has spread over the globe, many people prefer to connect virtually rather than at a local branch, corporate headquarters, or international affiliate of an association, and as a result, they need flexibility in access to office resources and data. The requests for additional interest in cloud technology and cloud services are growing. The COVID-19 epidemic wave was spread over the world, and its effects were felt through the end of 2020. With the approach of 2021, the influence was lessened. Coronavirus had an impact on the mobile backend service sector. The coronavirus pandemic gives cloud portable BaaS market vendors a lot of freedoms.
Regional Analysis
North America to Head Mobile Backend as a Service Market
Because of the inventive advancements made possible by innovative efforts, North America currently controls the market for MbaaS. Also, during the projected period, the market would rise as a result of the rising interest in business adaptability and competence. Due to the presence of a sizable population that is tech-savvy and the region's early acceptance of new technologies, North America is anticipated to hold the greatest market share. For the presence of few of the top firms, like Oracle, Microsoft, and IBM, North America dominates the MBaaS industry. The development of mobile applications using new technology also helps this area to expand. The growth in cloud mobile BaaS deployments in nations like the U.S. is to blame for the regional market expansion. Moreover, the U.S. is home to significant end-user sectors, huge suppliers, and telecom companies, supporting regional market growth. Large telecom conglomerates based in the area are constantly adjusting to modern technology to increase corporate productivity and efficiency. Additionally, it is anticipated that throughout the forecast period, the proliferation of online applications and the expanding internet users will fuel market expansion.
APAC to Have Admirable Growth in MbaaS Market
The Asia-Pacific area is anticipated to expand quickly in the next years. Increased demand for cloud BaaS from businesses in nations like Thailand, Indonesia, China, Philippines, South Korea, Taiwan, Malaysia, Singapore, Japan, India, and Australia may have an impact on the regional industry's growth. Due to the existence of a sizable number of startups in the sector, Asia-Pacific is predicted to have notable growth in the market. Also, it is projected that an increase in competition would fuel the expansion of the industry in the area during the next few years. Due to the region's increased usage of smartphones & cloud computing technology, the Asia Pacific region is expanding quickly. Due to the growing use of cloud services by SMEs, nations like China, India, & Japan also present excellent growth potential. Also, a number of businesses that provide MBaaS are growing in this area.
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To stay competitive in the market, market participants are making a significant contribution to market growth by using a variety of tactics, such as mergers and acquisitions, partnerships, funding, and the launch of new products.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
