Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Mobile Application Development Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global mobile application development platform market size reached US$ 9.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 35.8 Billion by 2028, exhibiting a growth rate (CAGR) of 23.9% during 2022-2028. 
Mobile application development platform (MADP) assists in designing, creating and maintaining software applications that run on mobile devices. It develops installable software bundles, such as codes, binaries and assets, implements backend services, and tests applications on targeted devices. These applications are either pre-installed during the manufacturing of mobile phones or delivered to application stores. Nowadays, mobile application programmers are outsourcing backend infrastructure to cloud service providers for helping developers build innovative features and functionality without worrying about scalability, security, and reliability.
The rising dependence on smartphones for banking services represents one of the key factors escalating the demand for MADPs in the banking, financial services and insurance (BFSI) sector. Apart from this, they find application in the healthcare sector to create mobile health (mHealth) applications that help treat individuals with chronic illnesses efficiently. Furthermore, rapid digitization and the emerging e-commerce industry are encouraging small and medium-sized enterprises (SMEs) to develop online shopping applications and expand their consumer base. This, in confluence with the escalating demand for innovative social networking and gaming applications, is also contributing to the market growth. Besides this, market players are introducing advanced MADPs that allow developers to build multi-channel applications with artificial intelligence (AI) capabilities. Moreover, the rising trend of smart devices, such as wearables and speakers, that use mobile applications to access features, is anticipated to provide lucrative opportunities to leading manufacturers in the future.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global mobile application development platform market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on deployment type, application, organization size and end use industry.
Breakup by Deployment Type:
- Cloud-Based
- On-Premises
Breakup by Application:
- Network Security
- Web Security
- Email Security
- Database and Cloud Security
- Others
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by End Use Industry:
- BFSI
- Aerospace and Defense
- Healthcare
- IT and Telecom
- Retail
- Travel and Hospitality
- Media and Entertainment
- Others
Companies Mentioned
- Appcelerator Inc. (Axway Inc.)
- Hewlett Packard Enterprise Company
- International Business Machines Corporation
- Microsoft Corporation
- MicroStrategy Incorporated
- Oracle Corporation
- Salesforce.com Inc.
- SAP SE
- Temenos AG and ViaSat Inc.
For more information about this report visit https://www.researchandmarkets.com/r/aqrser
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