Backend-as-a-Service (BaaS) Market to Reach $28.7 Billion by 2032 at 25.3% CAGR: Allied Market Research

The increase in demand for mobile and web applications, and the growing adoption of cloud-based infrastructure drive the growth of the backend-as-a-service (BaaS) market.

PORTLAND, Ore., Jan. 22, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Backend-as-a-Service (BaaS) Market by Service Type (Professional Services, Support and Maintenance, Access and Identity Management, Usage Analytics, and Others), Operating System (iOS, Android, and Others), Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), and Industry Vertical (BFSI, IT and Telecom, Healthcare, Retail and E-commerce, Manufacturing, Media and Entertainment, Public Sector, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global backend-as-a-service (BaaS) industry generated $3.1 billion in 2022, and is anticipated to generate $28.7 billion by 2032, witnessing a CAGR of 25.3% from 2023 to 2032.

Prime determinants of growth

The backend-as-a-service (BaaS) market is expected to witness notable growth owing to the rise in demand for mobile and web applications and the widespread adoption of cloud-based infrastructure. Moreover, an increase in demand for serverless computing models and an expanding IoT ecosystem are expected to provide lucrative opportunities for the growth of the market during the forecast period.

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The professional services segment to maintain its leadership status throughout the forecast period

Based on service type, the professional services segment held the highest market share in 2022, accounting for around two-fifths of the global backend-as-a-service (BaaS) market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing complexity of app development that has led businesses to seek specialized expertise for seamless backend integration. However, the usage analytics segment is projected to manifest the highest CAGR of 30.6% from 2023 to 2032. This is attributed to the desire of businesses to understand how their applications are used. Usage analytics provide valuable insights into user behavior, helping companies improve and tailor their services.

The android segment to maintain its leadership status throughout the forecast period

Based on operating system, the Android segment held the highest market share in 2022, accounting for nearly three-fifths of the global backend-as-a-service (BaaS) market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing complexity of app developments and greater use of the Android operating system. However, the iOS segment is projected to manifest the highest CAGR of 28.7% from 2023 to 2032, owing to the increasing complexity of mobile app development.

The large enterprises segment to maintain its leadership status throughout the forecast period

Based on enterprise size, the large enterprises segment held the highest market share in 2022, accounting for around two-thirds of the global backend-as-a-service (BaaS) market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the ability of backend-as-a-service to streamline and simplify the development process. However, the small and medium-sized enterprises segment is projected to manifest the highest CAGR of 27.4% from 2023 to 2032, owing to the user-friendly and cost-effective nature of backend-as-a-service.

The BFSI segment to maintain its leadership status throughout the forecast period

Based on industry vertical, the BFSI segment held the highest market share in 2022, accounting for more than one-fourth of the global backend-as-a-service (BaaS) market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing need for efficient and scalable digital solutions. As financial institutions strive to enhance their customer experiences and streamline operations, BaaS provides a convenient platform for managing the backend infrastructure of mobile and web applications. However, the media and entertainment segment is projected to manifest the highest CAGR of 32.6% from 2023 to 2032, owing to the increasing demand for digital content delivery and interactive experiences.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global backend-as-a-service (BaaS) market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to incrеasеd dеmand for strеamlinеd dеvеlopmеnt procеssеs. However, Asia-Pacific is expected to witness the fastest CAGR of 22.8% from 2023 to 2032. This is attributed to thе incrеase in mobilе app and intеrnеt usagе across Asia-Pacific that has fuеlеd thе dеmand for quick and еfficiеnt app dеvеlopmеnt solutions.

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Leading Market Players: -

• 8base Inc.
• Amazon Web Services, Inc.
• Back4App Inc.
• Kuzzle
• MongoDB, Inc.
• Google LLC
• Microsoft Corporation
• Progress Software Corporation
• Oracle Corporation
• Kii Corporation

The report provides a detailed analysis of these key players in the global backend-as-a-service (BaaS) market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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