[FURL=https://www.industryarc.com/Report/15097/cloud-mobile-backend-as-a-service-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Cloud/Mobile Backend As A Service Market[/FURL] Cloud/Mobile Backend as a Service market size is forecast to reach $7.2 billion by 2026, growing at a CAGR of 22.9% from 2021 to 2026. The market is primarily driven by the rapidly increasing adoption of cloud-based applications coupled with the proliferation of apps and mobile devices. The rising growth of mobile devices has so greatly influenced the IT industry that it is proclaiming a shift of the IT sector to the mobile platform. It is estimated that by 2025, around 60% of the mobile app development project will drive the cloud/mobile backend as a service market. Platforms such as Parse, Kony, Kinvey, AnyPresence, Appcelerator among others fall under the cloud/mobile backend as a service top 10 companies along with major companies such as Microsoft, Oracle and IBM.Key Takeaways
Cloud/Mobile Backend As A Service is a significant market in North America owing to various innovations through research and development and increasing demand for business flexibility and agility
High demand of smart phones and cloud-based devices for rapid deployment and development of cloud applications are driving the growth of cloud/mobile backend as a service market during the forecast period 2020-2025.
One of the major restraints of the cloud/mobile backend as a service is lack of security and high initial cost of investment, further hindering the market growth.
The BFSI vertical held the major share in 2019 attributed to the increasing adoption of BaaS service types coupled with the growing penetration of Internet of Things.
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Cloud/Mobile Backend As A Service Market Segment Analysis – By Geography
North America is expected to have the largest market share accounting for around 42% in 2020 and will dominate the market from 2021 to 2026 owing to various technological advancements through research and development and increasing demand for business flexibility and agility. Due to the presence of major key player of Backend as a service market (BaaS) in North America it is expected that the largest market share will be taken up by the region followed by APAC and EMEA.
Cloud/Mobile Backend As A Service Market Drivers
High Demand of Smart Phones And Cloud-based Devices And Development Of Cloud-Based Applications
Growing Inclination towards Bring Your Own Device Policy
Cloud/Mobile Backend As A Service Market Landscape
Cloud/Mobile Backend as a Service driver market is expected to be dominated by major companies such as Microsoft, IBM Corporation, Oracle Corporation, Kony, Kinvey, AnyPresence, Appcelerator, Built.IO Backend, CloudMine, and KII Corporation among others.
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