The Global Mobile Cloud Computings Market is projected to grow at a CAGR of around 22% during the forecast period, i.e., 2023-28. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The growing popularity of cloud services by businesses to launch their applications is one of the factors contributing to the growth. Cloud services provide companies to scale their applications quickly easily and help to expand their resources to meet demand accommodate growth without having to make extensive capital investments in the infrastructure. Owing to which companies are opting for these services since they help them reduce costs, improve flexibility, and enhance security reliability, which can ultimately lead to increased competitiveness success in the marketplace. For instance:
In 2020, Zoom announced the extension of its strategic connection with Amazon Web Services to become the company's preferred cloud provider, making it easier for organizations to establish hybrid office remote work models.
In addition, this service provides solutions for data storage management, enabling organizations to access their data from anywhere at any time. Therefore, with the boost in the prevalence of data storage issues, the companies such as Netflix, Spotify, Dropbox, etc., are using mobile cloud computing to manage store their data more efficiently. According to the company Filecoin in 2020, the cloud storage of the company Airbnb reached 1 billion terabytes. Hence, the inclination of small large enterprises to adopt cloud services for eradicating data storage issues is driving market expansion.
Moreover, the mound in the rollout of the 5G network in the countries like China, the US, etc., is also propelling market revenue. The deployment of 5G networks is significantly advancing the speed reliability of mobile internet connections, enabling new applications their use cases in the different industry verticals like retail e-commerce, IT Telecom, etc.
Further, several countries have partially built the infrastructure to launch 5G. According to the statistics by GSM Association in 2022, around 70 countries have already started offering 5G services, and approximately 15 countries have partially built 5G mobile networks. Therefore, in the coming years, more countries are presumed to adopt advanced reliable internet facilities, thus facilitating market growth in the forthcoming years.
Exploring the Market Dynamics: What’s Driving the Growth of Mobile Cloud Computing Market?
Increased Focus on Mobility by the Enterprises to Augment the Market Growth: With the widespread adoption of mobile devices such as smartphones tablets, there has been a significant upsurge in demand for mobile applications services. Significant advancements in mobile technology, such as faster processing speeds, improved battery life, and better connectivity, have made it possible to run more complex applications services on mobile devices. As a result, there has been a rise in demand for these solutions that can provide the necessary resources capabilities to support these applications services.
In addition, these solutions offer several benefits over traditional mobile computing, such as improved scalability, flexibility, and cost-effectiveness. Consequently, with the additional benefits these services offer over conventional on-premise services, many businesses have shifted their focus to mobile devices mobility in recent years. As a result, there has been a growing demand for mobile cloud computing solutions that provides the necessary resources capabilities to support these mobile initiatives.
Further, the government initiatives to accelerate digitalization in the countries such as India, the UAE, etc., are also propelling the industry verticals like banking finance, retail e-commerce to mitigate their business operations by launching appropriate applications. Hence, the shift of the end-users towards introducing their mobile apps to facilitate consumer reach would escalate the market in the forthcoming years.
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Key Takeaways from the Market Study:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR (2023-2028): 22%
- Key Players to Watch: Amazon Web Services [AWS], Microsoft Azure, Google Cloud Platform [GCP], Alibaba Cloud, Oracle Cloud, IBM Cloud [Kyndryl], Salesforce Inc., SAP SE , Red Hat, Inc., VMware Inc., DigitalOcean, LLC., Tencent Cloud, OVHcloud, Parse, Rackspace Technology, Others [Lumen, Cloud Foundry, Inc., etc.] are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Mobile Cloud Computing Industry:
- 2023: Amazon Web Service, the cloud computing division of Amazon Inc., announced its plans to invest around USD6 billion in Malaysia over the next 14 years to strengthen its cloud services infrastructure in Malaysia. This would mark the company's latest move in its plan to build Amazon Web Service (AWS) Infrastructure regions across Southeast Asia to enable customers across the region to store data securely.
Market Segmentation of Mobile Cloud Computing Industry
The Mobile Cloud Computing market is segmented as follows:
- By Services
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
- By Deployment Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Others (Community Cloud, Virtual Private, etc.)
According to report , the rechargeable segment holds a larger share of the Global Mobile Cloud Computing Market mainly due to their lower costs.
- By Enterprise Size
- Small and Medium
- Large
- By End Users
- Gaming
- Banking, Financial Services, and Insurance (BFSI)
- Retail E-Commerce
- Healthcare Life sciences
- IT Telecom
- Government Transportation
- Others (Education, Supply Chain Logistics, etc.)
According to reports, offline retail holds the largest market share.
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Mobile Cloud Computing Market Geographical Analysis
North America
South America
Europe
Middle East Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Mobile Cloud Computing Market
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