The Cloud Mobile Backend as a Service (BaaS) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Mobile Backend as a Service (BaaS) Global Market Report 2024, The cloud mobile backend as a service (baas) market size has grown exponentially in recent years. It will grow from $4.01 billion in 2023 to $4.9 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to mobile app proliferation, emergence of iot, shift to serverless architectures, focus on app security, enhanced user experience..
The cloud mobile backend as a service (baas) market size is expected to see exponential growth in the next few years. It will grow to $11.45 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The growth in the forecast period can be attributed to vendor innovation and competition, support for remote workforce, api-centric development, accelerated time-to-market, global market expansion.. Major trends in the forecast period include rise in mobile app development, proliferation of iot devices, shift to serverless architectures, advancements in 5g technology, integration of ai and ml..
The increasing adoption of smartphones is expected to propel the growth of the cloud mobile Backend as a Service market going forward. The demand for smartphones is increasing due to factors such as growing internet penetration, rising income levels, rising subscriptions to social media, improved communication needs, and others. This increase in smartphones and digitalization needs cloud mobile BaaS to handle and develop many cloud-based mobile apps and related side capabilities services such as database management, cloud storage, user authentication, hosting, and other services. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Moreover, according to the World Economic Forum, digital transformation will add $100 trillion to the global economy by 2025. Therefore, the increasing adoption of smartphones will drive the cloud mobile Backend as a Service market.
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The cloud mobile backend as a service (baas) market covered in this report is segmented –
1) By Type Of Service: Data Integration, Identity and Access Management, Usage Analytics, Support and Maintenance, Professional Services
2) By Operating System: Android, iOS, Other Operating System
3) By End-user: Banking, Financial Services and Insurance (BFSI) , Government, Healthcare, Manufacturing, Transportation and Logistics, Retail and E-commerce, IT and Telecommunications, Other End-Users
Technological advancements are a key trend gaining popularity in the cloud mobile Backend as a Service (BaaS) market. Major companies operating in the cloud mobile Backend as a Service (BaaS) market are focused on developing new technological solutions that are flexible across other elements, driving the expansion of technologies such as the BaaS solution. For instance, in September 2021, Cashfree, an Indian-based payments and API banking solutions company, launched a BaaS solution. This technology will help provide “accounts” to assist neo-banks and fintech platforms in swiftly integrating banking services into their offerings Accounts will enable companies to provide services to their consumers, partners, and vendors, such as account opening, linking, deposits, checking balances, and generating interest.
The cloud mobile backend as a service (baas) market report table of contents includes:
1. Executive Summary
2. Cloud Mobile Backend as a Service (BaaS) Market Characteristics
3. Cloud Mobile Backend as a Service (BaaS) Market Trends And Strategies
4. Cloud Mobile Backend as a Service (BaaS) Market – Macro Economic Scenario
5. Global Cloud Mobile Backend as a Service (BaaS) Market Size and Growth
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31. Global Cloud Mobile Backend as a Service (BaaS) Market Competitive Benchmarking
32. Global Cloud Mobile Backend as a Service (BaaS) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Mobile Backend as a Service (BaaS) Market
34. Cloud Mobile Backend as a Service (BaaS) Market Future Outlook and Potential Analysis
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