The adoption of mobile applications enhance user experience and facilitates customer relationship management which is one of the driving factors of the mobile application development platform market. According to the recently published report by MRFR, the global mobile application development platform market will grow saliently throughout the projection period 2016 to 2022.
The extensively growing demand for smartphones has escalated the growth in the Mobile Application Development Platform Market by creating a consumer base. The factors that can be credited for the expeditious market expansion are adoption of cloud technology, Bring Your Own Device (BYOD) culture, etc.
The adoption of the technology by business enterprises is mainly because of the factors such as operational efficiency, enhanced user experience, convenience, two-way communication, etc. However, the restraints to the market such as limited flexibility, security concerns, etc. will restrict market growth during the assessment period.
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The key players profiled by MRFR in its latest report for credible projection of shifts in the market include Globo (U.S.), ViaSat Inc. (U.S.), Oracle Corporation (U.S.), Salesforce.com Inc. (U.S.), Kony Inc.(U.S.), EchoStar Corporation (U.S.), IBM Corporation (U.S.), Progress Software Corporation (Germany), and, Halosys (U.S.) among others.
The growth and expansion of the market is led by the initiatives undertaken by top-notch players for gaining prominent share of market control which include acquisitions & mergers, product launch, innovation, product pricing, Memorandum of Understanding (MoU), etc. The vast presence of small and medium scale enterprises in the market is expected to intensify the competition over the next couple of years.
- By deployment the global mobile application development platform market is segmented into cloud, and, on premises. The cloud segment is further sub-segmented into public, private, and, hybrid.
- By end-user, the global market for mobile application development platform has been segmented into Strategic Business units (SBUs), and, large enterprises.
- By verticals, the market is segmented into healthcare, retail, transportation & logistics, telecom, and, others.
By region, the global mobile application development platform market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). North America market has witnessed widespread technological penetration which has accelerated the adoption of mobile applications in the region. The growth of mobile application development platform market can be attributed to the embracement of the technology on a large-scale by business enterprises for sustaining the market shifts. Furthermore, the concentration of major players in the region is projected to catapult the expansion of the market.
The developed economies in Europe such as the U.K., Germany, etc. are the primary revenue generators in the market. The region is equipped with standard and advanced technologies which when coupled with the investments made by business organizations is projected to multiply demand for mobile application development platform in the market.
Asia Pacific market accounts for the largest market size globally. The region encompasses emerging economies such as India and China which are two of the largest consumers and producers of budget smartphones. The rising affordability of the smartphones have fueled proliferation of mobile applications development platform market and is expected to show a steep rise in growth curve across the forecast period. Furthermore, the initiatives implemented by the governments to catalyze digitalization in the region coupled with booming startup ecosystem is expected to multiply the market revenue over the next few years.
Rest of the World (RoW) market will grow at a sluggish CAGR due to limited resources and sub-standard technology infrastructure. However, the region holds immense potential for growth and expansion.
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- The mobile startup, Virtual Artifacts, has used Oracle Cloud for the launch of its social network for mobile applications- Hibe Mobile Application Network (Hibe).
- Creolabs, which develops native mobile applications, has launched new mobile application development platform for MacOS named Creo.
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