Albany, NY -- (SBWIRE) -- 10/06/2016 -- The global market for mobile application development is examined in a market research report recently added to the portfolio of MarketResearchReports.biz. The report, titled "Global Mobile Application Development Platform Market 2016-2020," states that the market will exhibit steady growth and mark a remarkable 27.29% CAGR over the said period. The report observes the need for automating application development process as one of the key factors that will have a significant positive imapct on the market's development in the next few years.

On the basis of platform, the global mobile application development platform market is segmented into cloud-based and on-premise modes. Accounting for a share of over 57% in the global market in 2015, the cloud-based segment held the dominant position. The highly flexible, cost-effective, and scalable cloud-based mobile application development solutions have attracted a large number of enterprises to make a switch from conventional on-premise application development solutions to cloud-based ones in the past few years. The trend is expected to continue to hold strength in the next few years as well.

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Of the key end users of mobile application development platform, the BFSI segment dominated, accounting for a share of nearly 21% in the global market in 2015. It is also expected to be the leading revenue contributor to the market over the next few years. The need for developing native apps for digital banking services warrants the need for effective mobile application development tools in the banking domain.

Owing to the susceptibility of mobile banking solution to security glitches and online thefts, developers working for the banking industry are required to focus more on testing mobile applications from a number of aspects. The need for applications that can be easily integrated with add-on features for enhanced security and quicker transactions is also more strongly felt for products in the banking domain.

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From a geographic standpoint, the mobile application development platform market in Americas dominated in 2015, accounting for a more than 53% of the global market. The region is one of the leading embracers of mobile technology across the enterprise sector. The region also ranks high owing to the presence of a large number of enterprises in sectors such as healthcare, e-commerce, BFSI, and telecom that have become heavily dependent on mobile technologies for accessing data and information.

Additionally, owing to the presence of a wide number of operating platforms in the region, developers are encouraged to subscribe to mobile application development solutions, consecutively driving the increased demand for a variety of mobile application development platforms.

Some of the leading vendors operating in the global mobile application development platform market are Adobe Systems, Kony, Inc., SAP, IBM, Red Hat, Appcelerator, Intellectsoft, Salesforce.com, Globo, Backbase, OutSystems, Microsoft, Telerik, Oracle, and Sourcebits.

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