According to a new market research report published by Credence Research, the global mobile accelerator market was valued at US$ 1.97 billion in 2018 and is set to grow by 23.5% with CAGR during the forecast period.
Advanced technology adoption and penetration of the digital environment worldwide are driving the growth of the mobile accelerator market worldwide. Mobile accelerators are basically used to speed up the development of applications, increase the speed of web content, network and other applications. The growing smartphone market and the need for improved customer experience are the other major growth factors on the market. The major application of a mobile accelerator for widely used applications such as social networking, e-commerce, gaming and other applications is another factor driving market growth. The growing market for online marketing is also one of the key factors for the growth of the market for mobile accelerators.
The application-based market for mobile accelerators is led by the Social Networking segment in 2018. The segment of social networking accounted for around 25% of the revenue share in the same year. The segment has the highest growth due to an enormous increase in users of social media applications and an increase in the market for social media marketing. In 2018, social media applications such as Facebook have 2.41 Bn users, WhatsApp has 1.6 Bn users, and Instagram has around 1.0 Bn users compared to 2009, where Facebook and WhatsApp have 175 Mn and 1.0 Mn users respectively and Instagram had not been launched. Furthermore, due to the huge growth of users of social media applications and the increase in the online marketing market, we expect the segment to remain dominant during the forecast period.
Geographically, Asia Pacific dominated the mobile accelerator market in 2018, accounting for around 35% of the market share in the same year. The region dominates the market due to the smartphone manufacturing hub, over 500 technology hubs and the availability of inexpensive labour. Developing nations such as China and India are the main contributors to the region’s growth. Smartphones and internet penetration in the Asia Pacific will be the main contributors to the growth of the market. As a consequence, we expect that the region will continue its dominance position in the mobile accelerator market during the forecast period 2019-2027.
Some of the major companies profiled in the report include Akamai Technologies, Inc., Juniper Networks Inc., Flash Networks Inc., Huawei Technologies Co. Ltd, Riverbed Technologies Inc., Qualcomm Inc., Mobidia Technology Inc., Ascom Holding AG, RapidValue IT Services Private Limited, IBM corporation, CITRIX SYSTEMS, INC., F5 NETWORKS, INC. among others.