ID: MRFR/ICT/3271-HCR | 100 Pages | Published By Aarti Dhapte on March 2023
Enterprise Mobile Application Development Platform Market is expected to register a CAGR of 28% during the forecast period to reach USD 14 Billion by 2024.
Market Overview:The current era is largely driven by the emergence and dependence on the concept of digitization. The enterprise mobile application development platform market is such that it helps in enabling the customers along with the enterprise users for abandoning personal computers and laptops. The main idea behind this is to help the target audience recognize and behind demanding smart devices for an elaborated use. The teams indulged in application development are gearing up for large-scale production of mobile applications that act as solutions for the vibrant needs and requirements of the customers. However, there is a major challenge that the market is facing in the way of its growth. This is the lack of awareness and information regarding the use of tools and the right technology. The current market developments and trends are known to have to outpace the IT manager’s ability to introduce a change in the way applications advance.All these factors are collectively playing a good role to set a stable speed for the global market to grow during the global forecast period of 2017-2023. The global enterprise mobile application development platform market is expected to grow at a CAGR of approximately 28% during the forecast period 2017-2023. COVID 19 Analysis:The unforeseen circumstances created by the arrival of the coronavirus pandemic all around the world are emerging as a matter of concern for the businesses, their expanded outlets, their manufacturing and production units, along with the unavailability of raw materials and laborers. The major matter of concern for the market is to cope up with the prevailing situation and function as per the impositions from the government to help in curbing the spread rate of the pandemic. The lockdown was imposed in majorly all parts of the world. However, some of them are of the temporary kind while some were permanent. This is another concern that is disrupting the demand-supply cycle and creating issues for smooth management. The imposition made schools, educational institutions, and corporate firms and entities switch to the virtual model and invest in smart technologies for seamless working. Hence, this is a positive attribute for the market looking for reliable market growth and expansion opportunities during the global forecast period of 2017-2025.
The government of different economies is providing regulations to the global market that will help them grab and avail the best opportunities that are available to the market in the forecast period. Also, the key market players are looking for opportunities like mergers and acquisitions that will strengthen their producing and manufacturing ability, along with strengthening their global recognition and presence.Market Dynamics Drivers:The market performs in the form of software that helps businesses to build mobile applications. The increased use of mobile phones and related technologies backed with the advancement and demand of smart devices create a lot of growth opportunities for the market by the end of the global forecast period in 2023.Opportunities:The rise in demand for enterprise mobile application development platform market owing to an increase in the number of mobile applications. The growing popularity of the enterprise mobile application development platform market in the global market provides various growth opportunities during the forecasted period.Challenges:However, the developers have a limited budget and a reduced cycle to conduct and complete the process of development of the applications. This is one of the major challenges in the global growth of the market. Value Chain Analysis:In the current period, many established and prominent players for the market are apprehending the value which the global market has to offer to vibrant business vertices and lanes. These are expected to act as efficient tools for the employees and will act in the form of an engagement channel for the customers. Thus, opting for a development approach as an aid for such applications that can be native, web, or hybrid, you need to look into an array of factors like the allocation of budget, the venture’s time frame, the audience, and customers that you wish to target along with the functionality of the application. In the end, the whole process should be easy and convenient for the customers.Market Segmentation:The enterprise mobile application development platform market has been divided based on deployment, vertical and end-usersBased on the Deployment:The enterprise mobile application development platform market has been divided into the global market based on deployment into on-premise and cloud-based.
Based on the Vertical:The enterprise mobile application development platform market has been divided in the global market based on vertical into telecommunication sector, IT sector, retail, sector manufacturing sector, healthcare sector, and Banking and financial services and Insurance sector. Under this, the largest market share segment is held by the BFSI sector owing to the adoption of internet services by the banking sector.
Based on the End-user:The enterprise mobile application development platform market has been divided in the global market based on end-users into large enterprises, medium businesses, and small businesses.
Regional Analysis:The enterprise mobile application development platform market has been divided in the global market based on region into Asia-Pacific region, European region, North American region, the Latin American region, and the Middle East and African region. The largest market share in the enterprise mobile application development platform market is held by the North American region due to large countries like Canada and the US. Advancement in technology and increasing popularity are also contributing growth factors.
The second-largest market share in the enterprise mobile application development platform market is held by the European region as this region projects a high growth rate. The well-established digital infrastructure in the European region also drives the growth of the enterprise mobile application development platform market.
The third-largest market share in the enterprise mobile application development platform market is held by the Asia-Pacific region owing to the increase in several commercial mobile devices in this region. This region contains highly populous countries and hence creates more demand.
The Middle East and African region and Latin American region show bleak growth for the enterprise mobile application development platform market. The poor digital infrastructure is the main reason behind its bleak growth.
These major key players use various strategies to sustain their market position in the enterprise mobile application development platform market in the global market by collaborating, by going for mergers, and acquisitions, establishing a partnership, setting a new joint venture, developing a new production process, innovation in the existing product, developing a new product line, and many others to expand their customer base in the untapped market of the enterprise mobile application development platform all across the globe.
This global enterprise mobile application development platform market research report contains factors that drive the growth of the enterprise mobile application development platform market in the global market along with the factors that restrict its growth. The opportunities available for the growth of the enterprise mobile application development platform market during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the enterprise mobile application development platform market is mentioned. The future growth rate of the enterprise mobile application development platform market during the forecasted period is estimated and mentioned.
Intended Audience:Mobile application development platform vendors, software service providers, software vendors, government bodies, technology solution providers, research and consultancy firms, technology investors, and many others.
|Market Size||USD 14 Billion (2017-2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Deployment, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Adobe Systems, Inc. (U.S.), IBM Corporation (U.S.), Salesforce., Inc. (U.S.), SAP SE (Germany), Apple, Inc. (U.S.), MobileIron, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Red Hat, Inc. (U.S.), and IntellectSoft (U.S.).|
|Key Market Opportunities||Increasing demand for mobile applications and growing popularity of mobile application development platform are other major factors driving the growth of the market.|
|Key Market Drivers||The North American market growth is attributed to technological advancements and increased adoption of mobile devices in the enterprises across various industry verticals.|
The worldwide market of enterprise mobile application development can expand at 28% CAGR during the study period 2017-2023.
MobileIron, Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), and Red Hat, Inc. (U.S.) are some prominent names in the enterprise mobile application development platform market.
BFSI, manufacturing, and healthcare are major users of enterprise mobile application development platform.
The high rate of deployment of enterprise mobile application development platform due to its ability to provide secured transactions can augment the market growth.
The growing number of industries in APAC can prompt enterprise mobile application development platform market expansion.