Mobile Application Development Platform Market Synopsis:
In its research report, Market Research Future (MRFR), emphasizes that the global market 2020 is poised to grow exponentially, securing a substantial market valuation of 14 billion by 2023, and a healthy 22% CAGR over the review period.
Growing the adoption of mobile devices in the commercial sector is the main driver for mobile application development platform growth. The company uses mobile phones that enhance efficiency, health, and accessibility and help employees improve customer service, maintain good customer and supplier connections, and enable remote work. This increase in the number of mobile devices is encouraging the need to operate the company efficiently through mobile app. The growing number of mobile devices thus contributes to the growth of the market for mobile app development platforms. The increasing implementation of Bring Your Own Devices (BYOD) and Bring Your Own Access (BYOA) systems requiring workers to use all types of mobile devices like windows phones, android and iPhones that enable mobile applications to be available on all platforms. Hence, the framework for mobile application creation helps to address the mobile application problem that can only run on one type of mobile device. Nonetheless, growing costs and technological difficulties in the marketplace for the production Mobile Application Development Platform Market are limiting market growth.
Growing device adoption improves user experience and promotes customer relationship management which is one of the driving forces of the demand for mobile app development platforms. The creation of mobile apps is a dynamic process that needs a high degree of technical professional to create the application, including using the creation framework for the mobile device. Business companies’ adoption of the technology is mainly due to factors such as operational performance, enhanced user interface, comfort, bidirectional communication, etc.However, the restraints to the market such as limited flexibility, security concerns, etc. will restrict market growth during the assessment period. This leads the companies to select third party developers to drive their mobile application which leads to restraining the growth of the market.
COVID – 2019 Impact Analysis:
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mobile Application Development Platform Market. The growth sectors of the Mobile Application Development Platform Market are identified with precision for a better growth perspective.
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The major market players operating in the global market as identified by MRFR are Kony Inc.(U.S.), Globo (U.S.), EchoStar Corporation (U.S.), ViaSat Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Salesforce.com Inc. (U.S.), Progress Software Corporation (Germany), Halosys (U.S.) and among others.
- By deployment type, the market is divided into cloud and on-premise.
- By organization size, the market is bifurcated into small & medium enterprise and large enterprise.
- By vertical, the market is divided into Education, BFSI, Transportation & Logistics, Healthcare, Media & Entertainment.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
Asia-Pacific is projected to dominate the mobile app development platform market due to the high availability of low-cost tablets and smartphones contributing to the adoption by organizations in this area of the mobile application development platform. In addition, increasing use of digital technologies is responsible for the growth of the MADP market in countries like India and China. North America is expected to expand at a higher pace because of the involvement of key players providing forum for the production of mobile applications. In Europe, the main countries in the middleware software industry are the UK, Italy and Germany. Hence businesses spending high on middleware applications is driving the growth of Europe’s mobile application development market. Due to the availability of insufficient resources for mobile application development start-ups and main infrastructures, the market is expected to expand slowly in Latin America and Middle East Africa regions.
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