Mobile Cloud Market Size

Mobile Cloud Market Analysis

The mobile cloud market is valued at USD 60.05 billion in the current year and is expected to register a CAGR of 20.82% during the forecast period to become USD 154.63 billion by the next five years.

• The cloud segment across enterprises continues to make notable progress in environment-friendly innovations that meet consumer demand for a more sustainable community. There is a significant rise in awareness about high-performance mobile cloud platforms that cater to the growing need across various end-user segments, which drives the market exponentially.
• The continuous evolution of cloud computing and 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 in 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, 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 reprioritize digital investments to increase business resilience and prepare for digital transformation.
• The substantial growth in smartphones and internet usage will likely create new opportunities for application developers and cloud service providers 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 the need for awareness 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 significant challenges the global mobile cloud market faces. 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 significantly impacted the mobile cloud market. It had enormous 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.