Multi-channel apps can be defined as applications that can be accessed on multiple platforms. As companies are shifting toward cloud computing, adoption of multi-channel apps and support services is on the rise to help in efficient migration and increasing the agility. The increasing number of mobile devices and browsers/platforms has driven the development of a large number of mobile applications that require efficient application management. The growing number of mobile devices has also caused multiplatform complexity.
This, in turn, has raised the demand for multi-channel apps for use in the management of applications over diverse platforms. Vendors are offering multi-channel apps to market-leading technology platforms such as SAP, Oracle, IBM, and SaaS. These apps help in increasing the profitability of an organization through effective strategizing and planning. Additionally, use of multi-channel apps gives an organization a competitive edge, as they become able to target a wide range of audience and also gain key insights.
Rapid rise in the number of applications based on Internet of Things (IoT) is a driving factor for the multi-channel apps market. Increase in the number of mobile applications in the recent past is a trend in the multi-channel apps market. The increasing volume of data generated and recorded by organizations can be analyzed to track and scrutinize performance at all levels of an enterprise. With growing competition, gaining a strategic edge over competitors has become an immediate need. Through multi-channel apps, businesses gain insights required for quick decision-making and strategic advantages, which is an add-on feature of software of these apps.
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Additionally, the ease in accessibility offered by cloud-based systems is fueling the multi-channel apps market. However, development of multi-channel apps requires adequate training. Furthermore, growing competition among information technology (IT) companies, which makes the multi-channel apps market highly competitive, is a major restraint of the market. Nevertheless, customization of multi-channel applications is expected to present growth opportunities to the market during the forecast period.
The global multi-channel apps market can be segmented based on deployment type, organization size, end-use industry, and geography. Based on deployment type, the market has been divided into on-premise and cloud. The cloud segment has been sub-classified into on-demand cloud and hosted cloud. The cloud segment is expected to gain traction in the near future, due to numerous benefits offered by cloud-deployed multi-channel apps such as ease of use, ease of access, reduced physical clutter, decreased cost, and reliability. In terms of organization size, the global multi-channel apps market has been categorized into small & medium enterprises (SMEs) and large enterprises. Based on end-use industry, the global multi-channel apps market has been segmented into IT & telecom, BFSI, retail, manufacturing, health care, and others.