Market Boom: Cloud Mobile Backend as a Service (MBaaS)
According to the latest findings from our resource, the Cloud Mobile Backend as a Service (MBaaS) sector is currently on a growth trajectory. With a market value estimated at USD 2.87 billion in 2022, the market size is projected to inflate, achieving an impressive USD 14.21 billion by 2030. This increase corresponds to a staggering Compounded Annual Growth Rate (CAGR) of 22.14%.
What’s Fueling this Growth?
The primary catalysts sparking the monumental growth are the rapid assimilation of mobile apps and an overarching requirement for a scalable backend infrastructure. The provision of cloud MBaaS empowers developers to establish connections between web and mobile applications to cloud storage, inclusive of dynamic features such as identity management, data storage, and push notifications.
Key Market Trends
The current trend highlights the movement towards a serverless architecture that supercharges scalability. Additionally, the adoption of edge computing to facilitate real-time data processing is another trend shaping the market’s growth.
Major Market Players
The market is fortified with the participation of major players such as AWS, Google, and Microsoft. These tech giants are presently offering scalable solutions that create a critical component for efficient app development.
Market Domination: The BFSI Sector
The Banking, Financial Services, and Insurance (BFSI) sector is set to dominate this market. The sector’s digital experiences and operational efficiency transformations solidify its dominance in the Cloud MBaaS market.
Market Segmentation
- Platform: Android, iOS, others
- Enterprise Size: Large enterprises, SMEs
- Application: Cloud storage, database management, push notifications, user authentication
- Industry Verticals: BFSI, IT & Telecom, Manufacturing, Healthcare, Media & Entertainment, others
Geographical Market Distribution
North America emerges as the leading player in the market owing to the region’s massive technological advancements and subsequent adoption. Nevertheless, the Asia Pacific region is not far behind and is positioned to witness substantial growth in the coming years.
