Mobile cloud is an internet-based service that can be accessed through mobile devices like smartphones, tablets, laptop computers, and such other devices. These are cloud-based web apps instead of native apps used in mobile computing. Users need to subscribe to these services in order to access the remote storage of the applications and the data associated with them. The global mobile cloud market is witnessing strong rise in terms of the demand, global presence and revenue channels. This demand is especially driven by the technological advancements in the cloud technology and growing rate of adoption across different industrial verticals. Despite being in the evolutionary stage, the industry is anticipated to witness impressive penetration around the world.
Segmentation in the Market
The global mobile cloud market is segmented on the basis of the types of applications, which include entertainment, gaming, utilities, productivity, social networking, education, travel, navigation, healthcare, business and finance. Consumers and enterprises are the major end-users in this market. Growth in dependability on the information technology is considered to be a major driving factor for this market. Different technologies available in the market include HTML5, 4G LITE, OneAPI, CSS3, Cloudlets, Hypervisor, and so on. Geographically, researchers segment the global industry into North America, Europe, Asia and rest of the world. Analysis of all these segments of the industry remain a crucial step in market research as it provide details of the current trends as well as growth prospects for the future.
Major Drivers & Opportunities
According to the experts, the strong rise in demand is expected to be the crucial driver for the global mobile cloud market. This rising demand is also driven by the technological advancements in the industry. Inclination towards using IT based and cloud based services for data storage and sharing is also expected to play a crucial role in the overall development of this industry. Significant technological developments in the industry, introduction to innovative applications and emergence of cloud-based mobile apps has also contributed to the constant rise in the demand for this market. Ongoing development in the industry is expected to drive more business towards the existing as well as potential players.
Future Growth Trends
Latest research reports, suggest that the mobile cloud market is expected to witness impressive growth rate. As per the researchers, market is expected to maintain an impressive CAGR of over 37%, from 2014 to 2020. At the projected, exponential growth rate, the industry is anticipated to reach $46.90 billion by the end of 2019. As of 2014, the market is estimated to be worth $9.43 billion. Europe is expected to be the largest market in terms of market share and overall growth during the forecasting period. However, regions like Asia Pacific and Latin America are also expected to witness impressive growth during the next few years to come.