The global mobile backend as a service (MBaaS) market could do extraordinarily well as it is expected to achieve a CAGR of 64% during the forecast period (2017-2023), says Market Research Future (MRFR). It is set to touch the valuation of USD 87 billion by 2023, adds MRFR.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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Growth Boosters and Top Restraints
Mobile applications have seen constant demand in recent years, turning into a crucial business segment within the IT landscape. Soaring demand for smartphones as well as bundled applications has boosted competition, with availability of useful applications becoming a critical parameter while purchasing a mobile phone.
Trends including bring your own device (BYOD) have augmented the need for rapid application development, which is touted to be a chief market driver. Companies are now offering integrated development environment (IDE), middleware, server-side infrastructure and software development kit (SDK) to increase ease of development. Citing a reference, in 2013, Facebook acquired cloud-based platform named Parse, known for offering backend services that helps eliminate the need for complex infrastructure and managing servers.
MBaaS offers a number of benefits, which could boost its demand in the market in the near future. Some of the benefits are provision of a bundled infrastructure that handles operational concerns like security and scalability, efficiency gains, and faster time to market, etc. Developers of every platform need BaaS for higher efficiency, but it enjoys the highest demand in mobile platforms of iOS and Android.
The Covid 19 Mobile Backend as a Service Market has can be segregated into service type, operating system, organization size, and end-user.
The types of services in the market are data and application integration, identity and access management, usage analytics, support, and maintenance service, professional services, and others.
Depending on the operating system, the market can be considered for android, iOS, window OS, Blackberry, and others.
Organization size-wise, the market caters to small and medium enterprises (SMEs), large enterprises, and others.
BFSI, telecommunication and IT, healthcare, retail and wholesale, manufacturing, media, entertainment, and gaming are some of the end-users mentioned in the report. It has been noted that telecommunication and IT segment makes extensive use of mobile applications, and holds the biggest share in the market. Other sectors such as gaming and BFSI sector are expected to start using Mobile Backend as a Service regularly and could, therefore, exhibit favorable growth in the coming years.
The MBaaS market has been analyzed in the primary regions of Europe, North America, Asia Pacific (APAC) and Rest of the World (RoW).
In North America, the number of mobile phone and smart device users has surged remarkably, which has given rise to the number of mobile game developers as well as mobile applications. This, paired with the need for faster deployment has resulted in the intense market growth in the region. Besides, intensifying competition within the mobile application industry combined with the rise in the cost of technology has worked in favor of the mobile backend as a service market in the region.
The Europe market has made its presence known at a global level, given the inclination towards Bring Your Own Device (BYOD). MBaaS suppliers in the region are spending huge amounts of funds for the development of technology. The regional market is also marked with corporations, investments, mergers, acquisitions, and projects in a bid to garner utmost share of the market as well as expertise. This is a critical feature that could motivate market growth in the region during the review period.
The APAC mobile backend as a service market is racing ahead at a commendable pace, banking majorly on the rising adoption of smartphones & cloud computing tech. India, Japan, and China are touted to depict spectacular growth prospects on account of increasing adoption of cloud computing among SMEs. Another factor that promotes market growth is the efforts put in by several MBaaS organizations in expanding their business in the region. Case in point, Kony had expanded its business in the region in 2015, with the intention of extending its enterprise mobility solutions. In a bid to achieve this objective, the company proceeded to collaborate with several Asian firms such as Telstra and SoftBank.
Some of the esteemed companies competing in the worldwide mobile backend as a service market include KII Corporation (Japan), Built.IO Backend (U.S), Oracle Corporation (U.S), Kony, Inc. (U.S), Kinvey, Inc. (U.S), Microsoft Corporation (U.S), CloudMine, Inc. (U.S), Exadel, Inc (U.S), Appcelerator Inc. (U.S), IBM Corporation (U.S), AnyPresence Inc. (U.S), among others.
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