Enterprise mobile app development platform market is having immense popularity as it offers tools and servers to create, deploy, and manage apps. As companies today need applications to deliver their services, the enterprise mobile application development platform market has higher demand. The market valuation is anticipated to reach USD 14 billion by 2023. Its CAGR is presumed to be 28% during the forecast period between 2017 and 2023.
With the emergence of digitization, customers prefer mobile apps rather than using laptops or computers. The app development teams are going to produce mobile apps in large quantities to meet the needs of the customer in the present times. This elevates the growth of the enterprise mobile application development platform market. Also, many major vendors are proving competitive pricing and several features that further raise the market size.
These development platforms for mobile apps reduce the complexities related to the design and development of applications. The growing BYOD or bring your own device trend in companies has fuelled the demand for such platforms. Moreover, the advent of cloud technologies is also a big reason for the elevation in the market potential. Over the years, the surge in the number of mobile app users has arisen several growth opportunities for the market.
The report portrays an in-depth insight into the enterprise mobile application development platform market along with the market value in the next many years. It highlights a different segment of the market and mentions regional analysis. In this report, the enterprise mobile application development platform industry is also discussed.
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Market Segmentation
The global enterprise mobile application development platform market is fragmented on the basis of verticals, deployment, and end-users. By vertical, the market is further segmented into the IT sector, BFSI sector retail sector, telecommunication sector, healthcare sector, and manufacturing sector. Among all, the BFSI sector has the largest market share due to high internet services adoption in the sector. By deployment, this market is classified into cloud-based and on-premise segments. On the basis of end-users, the market is divided into small businesses, medium enterprises, and large enterprises.
Regional Analysis
Proper analysis has been done on the market of various geographies like Asia-Pacific, North America, Europe, Latin America, Middle East, and Africa. North America holds the largest enterprise mobile application development platform market owing to the popularity of advanced technologies and the presence of countries like the US and Canada. The European region is the second-largest in terms of market size as it has great infrastructure, which elevates the growth rate of the market.
Asia-Pacific will have higher market growth due to the surge in various commercial mobile devices. The highly populous nations in this region demand better solutions, which escalates the market growth. Middle East, Africa, and Latin America will witness bleak market growth as the digital infrastructure in these regions is not that advanced.
Industry News
In 2021, Xiaomi, a smartphone manufacturing company in China, partnered with several mobile phone manufacturing plants in India to boost the production rate.
In 2021, a multinational IT company, Wipro, collaborates with Kony Solutions, a mobility solution provider in the US, to provide an integrated portfolio of mobile app services.
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