Mobile Cloud Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Mobile Cloud Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The mobile cloud market is expected to record a CAGR of 25.28% during the forecast period from 2022 to 2027. The cloud segment across the enterprises continues to make notable progress in environment-friendly innovations that meet consumer demand for a more sustainable community. There is a noticeable rise in awareness about high-performance mobile cloud platforms that have catered to the growing need across various end-user segments.

Key Highlights

• The continuous evolution of cloud computing, coupled with the increasing adoption, leads to an upsurge in the mobile cloud. The mobile cloud offers access to cloud-based applications and services directly to portable devices. Mobile phone internet bandwidth and cloud-based technology expand the mobile cloud market. This technology allows applications to be built faster, more flexibly, reliably, and instantly. It offers users a solution to their storage and backup problems. It provides a good sense of security and privacy to mobiles from the malicious attack of the virus. The advancement of this technology results in improvements for smart gadgets.
• Information Technology (IT) infrastructure is the foundation of the Digital First Economy, supporting everything from connectivity to cloud computing. Less than 20% of ASEAN countries have used cloud technology, while 54% have adopted Long Term Evolution (LTE), and about 35% have adopted fixed broadband. These figures demonstrate that millions of individuals and families lack digital access. So, organizations should focus on building infrastructure and need to reprioritize digital investments to increase business resilience and prepare for digital transformation.
• The substantial growth in smartphones and internet usage is likely to create new avenues and opportunities for cloud service providers and application developers to penetrate the market. Several enabling technologies, including 5G, HTML5, CSS3, Hypervisor, Cloudlets, and Web 5.0, are anticipated to accelerate the growth of the mobile cloud industry. These innovations will pave the way for offline support specifications, allow web applications to function on any smartphone without being aware of the underlying architecture, and decrease latency with a quicker response. Companies are adopting mobile cloud solutions for the intense processing and storage requirements of real-time and high-end smartphone applications.
• Privacy and security concerns are the major challenges faced by the global mobile cloud market. Smartphones are vulnerable to several security attacks that try to steal the users' private information because of their constrained processing speed and memory. Additionally, there have been reports of third-party companies selling sensitive personal data to other organizations without the consumers' consent. This has grown to be of the utmost importance to those involved in mobile security.
• The COVID-19 pandemic is an emerging perspective that significantly impacted the mobile cloud Market. It had seismic effects on the company's stability and financial vulnerability, which affected the growth of the market; however, as most companies have moved to a remote environment and have taken into consideration advances and advancements in the field of mobile cloud-related services, the market for cloud enterprises has lately grown.

Key Market TrendsHealthcare App Market is Gaining Traction in the Mobile Cloud Market

• The healthcare industry has witnessed rapid changes over time globally. An outbreak of new diseases, growth in regulatory norms across the world, focus on population health management, inventions, more informed customers, and development in the advanced mobile application are some of the factors which are augmenting the growth of healthcare cloud applications, which in turn, might boost the mobile cloud solutions and services over the forecast period.
• The adoption of EHR, e-prescribing, telehealth, mHealth, and other healthcare IT solutions and also the growing use of big data analytics, wearable technology, and the Internet of Things; and rising cloud deployment in the healthcare sector are some of the factors driving the growth of the healthcare mobile cloud market.
• Resilient and scalable IT computing solutions pave the path to meeting the growing demand for these advanced technologies. The pandemic encouraged remote work and a reliance on digital simulations, which sharply raised the need for mobile cloud infrastructure. Clinical service providers are quickly adopting these technologies. Additionally, firms could focus on remote working and significantly reduce their IT spending by using these systems and solutions, which increases the mobile cloud requirement in Healthcare Applications.
• Moreover, incremental innovations in the communication field have led to wireless communication modules for the transmission of data in healthcare gadgets, which improves the healthcare management system. Moreover, the new age mobile application may process information and initiate remote diagnostics as part of several built-in preventive actions for enabling better healthcare services.

Asia-Pacific is Expected to Register a Significant Growth Rate

• The Asia-Pacific mobile cloud market is anticipated to expand significantly during the forecast period. It is expected that the private mobile cloud sector will soon continue to rule the market. Industry verticals like entertainment, utilities, education, healthcare, government, automotive, and industrial have dominated the mobile cloud market as these verticals are the major end users of mobile cloud.
• The growing adoption of cloud computing across the Asia-Pacific (APAC) region is driving a groundswell in demand for cloud networking services. In APAC, organizations across telecommunications, government, defense, financial services, manufacturing, and sovereign cloud providers have been the most receptive to adopting cloud networking.
• In Asia-Pacific, smartphone penetration, along with the rising utilization of online banking, is expected to drive the market in the region over the forecast period. Notably, a handful of companies are encouraged to bring their device (BYOD) policy, which may positively impact the integration of mobile cloud applications, thereby boosting the market growth.
• With the mobile cloud, companies may utilize networking resources more effectively. The mobile cloud market will benefit industries by allowing them to use cloud computing for information technology optimization. Mobile networking hardware manufacturers such as 5G equipment makers and companies that provide mobile telephony software can package their products with mobile cloud data center orchestration capabilities and offer them as complete solutions to CSPs in regional markets.
• However, the stringent regulations associated with BYOD by the government may discourage the firms from implementing the technology within their organization, thus, restraining the market growth in the region.

Competitive Landscape

• The mobile cloud market is highly competitive and consists of several major players. In terms of market share, few major players currently dominate the market. Moreover, due to innovation across the cloud segment, most companies are increasing their market presence, thereby tapping customers across the subsequent markets.
• June 2022 - Baffle Inc., a cloud-based data protection company, expanded its global presence and created a foothold in the Asia-Pacific area by opening a new engineering center in Bangalore. This center supports major cloud platforms like Amazon Web Services, Microsoft Azure, IBM Cloud, and Google Cloud Platform via a no code simply to deploy security mesh without any performance impact or changes to the application.
• March 2022 - Fletcher Building partners with Google Cloud and TCS to drive growth through data and digital innovation. The company is also developing its customer data strategy to understand its customers' needs and behaviors and react quickly to market changes and opportunities. TCS uses its multi-horizon cloud transformation framework and extensive cloud experience to assist Fletcher Building in creating a new digital core that is prepared for the future using Google Cloud.

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