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