CLOUD/MOBILE BACKEND AS A SERVICE (BAAS) MARKET TO REACH USD 271.3 BILLION BY 2027 | CAGR 83.4% — FORENCIS RESEARCH
Global Cloud/Mobile Backend as a Service (BaaS) Market: Key Highlights
- According to the new market research report “Cloud/Mobile Backend as a Service (BaaS) Market by Types (Consumer BaaS and Enterprise BaaS), by Component (Solution and Services), by Solution (Web Development, Mobile Applications, Electronic Readers and Launch APIs) by Services (Support and Maintenance, Identity and Analytics), By Operating System (Blackberry, Android, iOS and Windows), By End-User (Banking, Financial Services, and Insurance, Retail, Healthcare, Telecommunication and IT, Manufacturing, Media & Entertainment, and Others), By Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the global Cloud/Mobile Backend as a Service (BaaS) Market is estimated to reach USD 271.3 Billion by 2027 at a CAGR of around 83.4% during the review period.
- The advancement in mobile and game application development by speeding up the production process and making it more cost-effective will is projected to enhance market growth.
- However, Security is one of the major issues for the projected market growth of the Cloud/Mobile Backend as a Service (BaaS) Market in the forecast period.
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Global Cloud/Mobile Backend as a Service (BaaS) Market: Key Market Dynamics
- The mobile application which needs the updates and integration process on a regular basis to improve the features and applications.
- Increased adoption of cloud-based applications enhances the features and growth in edge devices which may lead to boost the market growth in the forecast period.
- Advancement in mobile and game applications will increase the speed, through process automation, and also increase productivity which will grow the market in the projected period.
- Security is a major concern for the adoption of cloud/mobile backend as a service (BAAS) which may lead to hamper the growth of the market in the forecast period.
Global Cloud/Mobile Backend as a Service (BaaS) Market: Regional Overview
According to the International Trade Administration, Japan is projected to be one of the top markets for cloud services and Information and Communications Technology (ICT). IN 2014, Google announced its partnership with five different Asian ICT companies for the purpose of constructing the new fiber optic cable system. In 2015, a Chinese Internet company has announced that it invests USD 1.5 Billion for the next five years for the improvement of cloud computing business that includes construction as well as the operational data centers in China.
Hence, India is one of the top markets for the US cloud services exporters due to its large number of users with Internet access. India is accounted for 250 Million users for the web-connected devices which will increase the demand for the cloud/mobile backend as a service (BaaS) market in the region.
According to the International Trade Administration, Germany is one of the top markets for cloud services. As per the European Commission, the European cloud imitative will enhance the European position in data-driven innovation and improve competitiveness and cohesion which will help to enhanced the digital signal market in the region. Moreover, the commission is estimated the overall USD 2.2 billion in Horizon 2020 funding which will be allocated to the European Cloud Initiatives. The European Cloud Partnership (ECP) is brought the industries and public sector together to enhance the features for cloud computing.
Therefore, the growing adoption technology in the region will be projected to lead the demand for the market.
Global Cloud/Mobile Backend as a Service (BaaS) Market: Key Players Overview
Oracle is a multinational computer technology corporation that sells database software and technology, cloud engineered systems, and enterprise software products. The oracle database is a multi-model database management system produced which is marketed by Oracle Corporation. Moreover, Mobile Cloud Service (MCS) is a cloud that offers and simplifies the process of connecting mobile applications. The MCS helps to secure the connection from a mobile application to the enterprise. In 2018, Oracle announced a new online transaction processing database services which will bring the key database technology into the cloud.
- IBM Corporation:
The International Business Machines (IBM) Corporation is a multinational technology company which is one of the leading players for cloud platform and for cognitive solutions. Moreover, IBM Mobile Foundation from the IBM Cloud provides an open, comprehensive, and advanced mobile application backend for mobile devices. In 2017, American Airlines has adopted IBM Cloud for the cloud transformation to improve the internal processes more efficiently, faster and easier.
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