Mobile Cloud Market is Expected to Garner $74.25 Billion, Globally, by 2023
Increase in usage of smartphone, high adoption rate of BYOD concept, availability of faster network connectivity, and rise in awareness of cloud-based services are expected to propel the growth of the global mobile cloud market.
Rise in smartphone usage, increase in availability of high-speed network, and surge in adoption of BYOD concept have boosted the growth of the global mobile cloud market. However, security concerns due to increased cyber attacks and lack of interoperability between platforms and operating systems hamper the market growth. On the contrary, rapid technological advancements and increased awareness regarding cloud-based services are expected to create lucrative opportunities for the market players in the near future.
Hybrid Deployment segment to manifest fastest growth by 2013
The hybrid deployment segment is expected to portray the fastest growth with a CAGR of 30.1% through 2023, owing to rise in demand for efficient productivity by enterprises and quick & secure data access, and high demand from SMEs. However, the private segment held the largest share in 2017, contributing nearly two-thirds of the total market, owing to growing need of large enterprises to secure confidential data without involving any third-party cloud provider, advancements in IT infrastructure, and maturing channel partner ecosystem. The report also analyzes the public segment.
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The global mobile cloud market was pegged at $15.35 billion in 2017 and is expected to garner $74.25 billion by 2023, registering a CAGR of 30.1% during the period 2017–2023.
Major market players
The major companies in the market are included in the report, such as Amazon Web Services Inc, Google Inc., Apple Inc., Dell EMC, Oracle Corporation, Microsoft Corporation, Salesforce.com, Rackspace Inc., IBM Corporation, and Akamai Technologies Inc.