Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Cloud Mobile Backend as a Service (BaaS) Market size is expected to reach $9.4 billion by 2028, rising at a market growth of 22.3% CAGR during the forecast period.
The Android market is generating high revenue in the Global Cloud Mobile Backend as a Service (BaaS) Market by Platform in 2021; thereby, achieving a market value of $4.4 billion by 2028. The Android operating system framework is open-source software. As these apps are simple to use and operate, a huge number of major mobile phone manufacturers develop Android-compatible applications. The remainder, which includes Windows or Blackberry, offers high-security features.
The User Authentication market is showcasing the CAGR of 22.8% during (2022 - 2028). The rising growth of the segment is attributed to the rapidly increasing significance of user security and privacy as a result of the growing number of cyberattacks all over the world. User authentication confirms the identification of a user seeking to access a network or computer resource by allowing the human-to-machine exchange of credentials during network interactions to ensure a user's legitimacy.
The Large Enterprises market is leading the Global Cloud Mobile Backend as a Service (BaaS) Market by Organization Size in 2021; thereby, achieving a market value of $5.9 billion by 2028. This type of enterprise has a lesser number of budget constraints. In addition, large enterprises are also low on labor resources owing to significantly high workloads, which propels the demand for more automated and efficient tools and services.
The Healthcare market is exhibiting a CAGR of 22.8% during (2022 - 2028). The rise in the growth of the segment is ascribed to the increasing demand for automation within healthcare processes. The healthcare industry is being overburdened nowadays, due to which, backend services are increasingly being outsourced to these service providers, which is bolstering the growth of this segment of the market.
The North America market dominated the Global Cloud Mobile Backend as a Service (BaaS) Market by Region in 2021; thereby, achieving a market value of $3.4 billion by 2028. The Europe market is poised to grow at a CAGR of 21.8% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 22.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Oracle Corporation, Temenos AG, Amazon Web Services, Inc., Google LLC, Progress Software Corporation, Kii Corporation, ProgrammableWeb and Couchbase, Inc.
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