Mobile App Development Platform Market To Reach USD 70.59 Billion at a CAGR of 26.46% by 2030 – Report by Market Research Future (MRFR)
Rise in Business Processes Automation Drives Mobile Application Development Platform Market
New York, US, Nov. 23, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Mobile App Development Platform Market, By Deployment Type, Organization Size, Verticals- Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 70.59 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 26.46% during the assessment timeframe.
Mobile App Development Platform Market Overview:
The global mobile application development platform market demonstrates significant growth potential in the future years. The increasing adoption of mobile devices in commercial sectors would support market growth. Mobile application development platform (MADP) comprises products and services, allowing the easy and fast development of innovative mobile applications. Many commercial businesses use mobile phones to improve productivity, safety, and mobility to help their employees improve customer services by staying in touch with customers and suppliers while working remotely.
This, as a result, increases the number of mobile phone users and the demand for various mobile applications and, thus, increases the demand for mobile application development platforms. Besides, the growing number of smartphone and smart & connected device users creates the need for mobile applications to run the business efficiently.
Active players in the Mobile App Development Platform Market are-
- Globo (US)
- Kony Inc.(US)
- EchoStar Corporation (US)
- IBM Corporation (US)
- ViaSat Inc. (US)
- Oracle Corporation (US)
- Salesforce.com Inc. (US)
- Progress Software Corporation (Germany)
- Halosys (US)
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The growing adoption of Bring Your Own Devices (BYOD) and Bring Your Own Access (BYOA) policies among organizations leads to increasing the mobile application development platform market shares. BYOD and BYOA enable employees to use all kinds of mobile devices, including windows phones, android, and iPhones, that require mobile applications to be functional on all platforms. Resultantly, the mobile application development platform market is growing rapidly.
Mobile application development is a complex and critical process requiring a high level of technical expertise. This leads the companies to choose third-party companies to develop their mobile applications, which drives the growth of the market. On the other hand, increasing costs and technical difficulties in the mobile application development platform restrain market growth.
MADP Market Report Scope:
|MADP Market Revenue forecast in 2030||USD 70.59 Billion|
|Mobile App Development Platform Market Growth Rate||CAGR of 26.46% from 2022 to 2030|
|Key Market Opportunities||The increasing use of Bring Your Own Device (VYOD) and Bring Your Own Access (BYOA) that is used in all kinds of mobile devices, including Android, iPhones, Windows phones by the employees|
|Key Market Drivers||Rising penetration of Modern Smartphones and the Global Internet|
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Mobile App Development Platform Market Segments
The Mobile Application Development Platform Market is segmented into deployment types, organization sizes, verticals, and regions. The deployment type segment is sub-segmented into on-cloud and on-premise. The organization size segment is sub-segmented into small & medium enterprises and large enterprises. The vertical segment is sub-segmented into BFSI, healthcare, transportation & logistics, education, media & entertainment, and others. The regions segment is sub-segmented into the Asia-Pacific, Americas, MEA, Europe, and Rest-of-the-World.
MADP Market Geographical Analysis
The Asia Pacific region dominates the global mobile application development platform market. The large base of mobile phone users and the growing use & popularity of mobile applications drives the market growth. Also, the large presence of major mobile app developers & solution providers impacts the market rise positively. Moreover, the high availability of low-cost tablets and smartphones leads to the adoption of mobile applications and therefore boosts the size of the mobile application development platform market.
With the vast digitization, India and China account for leading shares in the regional market. Additionally, the proliferation of mobile devices, developments in the IT sector, and wide uptake of cloud-based solutions among enterprises of all sizes accelerate the region’s market shares. Increasing automation and the adoption of cloud-based services in developing countries offer significant opportunities.
Europe is another lucrative market for mobile application development platforms globally. The early adoption of innovative technologies among a large number of enterprises offers a favorable platform for mobile application development tools to evolve significantly. Moreover, technological advancements and the proliferation of intelligent connected devices in this region escalate the market value.
There have been vast developments in manufacturing processes and industrial infrastructures in this region, which along with the growing mobile workforces, remote working, and augmenting demand for high-speed data services, create vast market demand for MADPs.
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Mobile App Development Platform Market Competitive Analysis
Fiercely competitive, the mobile application development platform market appears fragmented, with various notable players forming a competitive landscape. These players increasingly focus on product development and incorporate strategic approaches, such as collaboration, mergers & acquisitions, expansion, and product launch to gain a larger competitive share.
Mobile application development platform providers make substantial investments to drive R&D activities to develop and expand required technologies. Leading MADP providers strive to offer easily available new tool-making solutions that can help develop cross-platform apps effortlessly.
They form strategic partnerships or acquire companies that can help them build tools and services to develop secure, scalable mobile and web applications. They try to acquire companies that can offer a low code/no-code developing platform, bolster their mobile app credentials, and create applications for the Web & mobile use, as well as can strengthen their presence in the mobile application software market.
For instance, on Nov. 16, 2022, Xebia, an IT consultancy & software development firm, announced the acquisition of Netlink Digital Solutions Group (NDS), a leading provider of low-code solutions from Netlink Software Group America (Netlink). NDS’ low-code solutions and digital transformation services are primarily used to develop low-code software platforms, allowing IT teams to build cloud-native applications. The acquisition will boost Xebia’s comprehensive digital transformation services and expertise.
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In another instance, on Nov. 08, 2022, OutSystems (the US), a low-code development platform, announced the acquisition of an open-source framework provider, Ionic, to further automate app development processes. The acquisition will enable OutSystems to further extend its platform’s reach and footprint.
OutSystems’ low-code development tools enable companies to develop, deploy, and manage omnichannel enterprise applications. Ionic’s open-source framework allows developers with high abstraction to build and deploy mobile & desktop applications. Ionic will provide an extension to the platform that OutSystems already uses to automate the development and deployment of low-code applications.
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