The global Mobile Application Development Platform market size is predicted to reach over USD 9.7 billion in 2020 and projected to grow at a CAGR of 20.2% over the forecast period.
The process of designing and developing online and mobile applications is made easier with a mobile application development platform. App developers no longer need to design their own backend systems thanks to IT solutions like mobile backend-as-a-service (MBaaS). As a result, this platform enhances front-end jobs, decreases application development time, and improves user interface design for a better user experience.
A mobile application development platform, often known as a mobile enterprise application platform, is a flexible and open platform for developing mobile applications. Using their favourite tools and the most latest mobile software development kits, developers can easily build, test, and deliver apps for all smartphones, desktops, and wearables (SDKs). Mobile application development platforms contain both a mobile middleware server and a mobile client application. Security, scalability, system integration, cross-platform support, and communications are all managed by the middleware server.
One of the primary causes driving up demand for MADPs in the banking, financial services, and insurance (BFSI) sector is the growing reliance on smartphones for banking services. Apart from that, they can be used in the healthcare industry to develop mobile health (mHealth) applications that aid in the treatment of people with chronic illnesses. Furthermore, the emergence of the e-commerce industry and fast digitization are driving small and medium-sized businesses (SMEs) to develop online shopping applications and expand their customer base. This, together with the growing need for novel social networking and gaming applications, is driving the market forward.
The report also emphasizes several distinctiveness of the global Mobile Application Development Platform industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the Mobile Application Development Platform industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The Mobile Application Development Platform market has tough competition among the new emerging and pre-established market vendors. Besides, the Mobile Application Development Platform industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
Based on the User Type, the market is segmented into SMBs, and Large Enterprises. Small and medium-sized businesses are expected to grow at the fastest rate during the forecast period. App development for SMBs is on the rise because a company with a mobile app provides its customers with a lot of speed and convenience. Furthermore, mobile apps will be critical in retaining customer loyalty. Furthermore, managing customer loyalty is critical for SMBs because it will be critical in forming the initial base for them. Enterprise Mobile Application Development has gained attention with the increase in Small Medium Enterprises building their own native Mobile App Development.
North America is expected to grow significantly during the forecast period. The growth of the North American mobile application development platform market is expected to be fueled by Canada and the United States. This is primarily due to the presence of numerous well-known players such as IBM Corporation, Adobe Systems, Inc., and Salesforce Inc. Furthermore, North America has a well-established infrastructure, which allows for greater device penetration and, eventually, improved connectivity. In addition, Asia Pacific is expected to bring potential growth opportunities to the market in the coming years.
The major players of the global Mobile Application Development Platform market are SAP AG, IBM Corporation, Oracle Corporation, Kony Inc., Microsoft Corporation, Verivo Software Inc., Salesforce.com Inc., Appcelerator Inc., MicroStrategy Incorporated, Hewlett Packard Enterprise Company and others. Renowned companies are offering new and modern Mobile Application Development Platform software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Mobile Application Development Platform Market
Industry Overview, 2019-2028 (USD Billion)
- Telecom & IT
- Media & Entertainment
User Type Overview, 2019-2028 (USD Billion)
- Large Enterprises
Deployment Type Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America