Global Mobile Cloud Market - Segmented By User Type (Consumer Market, Corporate/Entertainment User Market), Application (Gaming App Market, Entertainment App Market, Business And Finance App Market) And Geography - Growth, Trends, And Forecasts (2018 - 2023)
The global mobile cloud market was estimated at USD 24.51 billion in 2017. The market is expected to reach USD 94.75 billion by the end of 2023, recording a CAGR of 25.28% during the forecast period (2018 - 2023).
The advent of digital technologies for the collection, storage, analysis, and distribution of information has created new dynamics in database management system, while creating numerous opportunities for vendors serving the mobile cloud market. A majority of the organizations are in need for efficient data management systems to address the gap being created, due to the growing scale of business operations in various sectors, like healthcare, banking and finance, military, and others.
Increasing Usage of Smart Devices expected to Drive the Market Growth
The mobile cloud market is an amalgamation of mobile computing, cloud computing, and wireless technologies. Smartphone customers, network operators, and cloud service providers hugely benefit from this technology. Currently, nearly every emerging technology is being incorporated into smart devices. The growing penetration of smart devices can be attributed to the advancements in R&D. However, smart devices have become an irreplaceable element of people across the world, and mobile cloud services are even enhancing the usability of these gadgets with more ease, which is boosting the market over the forecast period.
Healthcare App Market is Gaining High Traction in the Mobile Cloud Market
The healthcare industry has witnessed rapid changes over time, globally. Outbreak of new diseases, growth in regulatory norms across the world, focus on population health management, inventions, more informed customers, and growth in the advanced mobile application, are some of the factors which are augmenting the growth of healthcare cloud applications, which in turn, can boost the mobile cloud solutions and services over the forecast period. Moreover, incremental innovations in the field of communication have led to the use of wireless communication modules for transmission of data in healthcare gadgets, which improves the healthcare management system. Moreover, new age mobile application can process information and initiate remote diagnostics as part of several built-in preventive actions for enabling better healthcare services.
North America Dominates the Mobile Cloud Market
Rapid technological developments in smart gadgets and increasing business operations in the region are expected to make North America the most important market for mobile cloud investments over the forecast period. The biggest contributor to this market is the United States, which accounted for most of the revenue in the North American region. The major factors driving the scale and growth of the North American region are investments in the consumer electronics, as well as the strong growth in implementation of IoT technologies. The region with a vast IT infrastructure has boosted the smart devices market regarding enhancing factors, such as mobility and making high-speed internet available to the users. Moreover, in the United States, the penetration rate of smart devices is extremely high and it expected to cross 85% by 2017.
Key Developments in the Market