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Mobile Cloud market to reach $74.25 billion by 2023 according to market forecasts

Industrial Market Research

Mobile cloud market was valued at $12.07 billion in 2016 and is projected to reach at $74.25 billion by 2023, to grow at a CAGR of 30.1% from 2017 to 2023. In 2016, the private cloud accounted for the highest revenue share in the mobile cloud market.

North America is the global supplier of the mobile cloud market, followed by Asia-Pacific. Japan dominates the market in Asia-Pacific and the U.S.

leads the overall market in comparison with other countries.

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The key factors that drive the global market are increase in smartphone usage, availability of faster network connections, and a rise in the adoption of BYOD (Bring Your Own Device) technology.

However, privacy & security issues and lack of interoperability between platforms hamper the market growth. Moreover, increasing awareness and advancements in technologies is expected to provide lucrative opportunities for the mobile cloud market growth.

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Applications for educational purposes is expected to witness the highest growth rate during the forecast period. The entertainment application accounts for the highest total applications revenue.

Moreover, other industry verticals (utilities, healthcare, government, industry, and automotive) among the mobile cloud applications dominated the global mobile cloud market in 2016.

Key Findings of the Mobile Cloud Market:

  • The hybrid cloud is expected to exhibit a significant increase in the mobile cloud market growth during the forecast period.
  • In 2016, entertainment, utilities, education, healthcare, government, industrial, and automotive generated the highest revenue among the mobile cloud applications.
  • Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

The key players profiled in the mobile cloud market report include Amazon Web Services Inc., Microsoft Corporation, Google Inc.,, Apple Inc., Rackspace Inc., Dell EMC, IBM Corporation, Oracle Corporation, and Akamai Technologies Inc.

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