The Global 3rd Platform Market is Anticipated to Reach $1.8 Trillion by 2020, Growing at a CAGR of 7.5 Percent

3rd Platform market thrives on booming technologies such as cloud, mobile, social and big data.

​​Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global 3rd Platform Market – Trends & Forecast, 2015-2020.”

The term '3rd platform' connotes a computing platform which traces the interdependencies between social media, mobile computing, cloud computing, big data analytics and IoT. These co-dependent trends are transforming the world of technology. The 3rd platform era is characterized by a proliferation of connected mobile devices, increasing significance of big data analytics and rampant usage of social networking, all of which is over a cloud-based server to support new workloads. Enterprises are transforming their businesses based on the integration of these technologies.

"The 3rd platform market will evolve around cloud, big data, mobile and social technologies; enterprises will aggressively adopt these technologies to take advantage of BYOD and growing mobile employees worldwide."

Jaydeep Bhattacharjee, Group Head at Infoholic Research

Rising consumerization, enhanced BYOD adoption and mobility are transforming the business landscape and thus it is becoming imperative for organizations to adapt to these changes.

The market for 3rd platform is expected to grow significantly driven by the increased adoption of cloud services across the globe. As the IT Industry is moving toward innovation and enterprises are seeking competitive edge, 3rd platform spending across the globe is expected to capture a major share of the overall ICT spending. This will enable digital transformation and expansion within the software industry in the coming decade. The Global 3rd Platform Market is segmented by application verticals, devices and regions.

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The Global 3rd Platform Market is analyzed by the following key regions — North America, Western Europe, Asia-Pacific, Central Eastern Europe, Latin America, Middle East & Africa. Each region is sub- segmented by technologies, services, and verticals.

BFSI, Retail, Manufacturing, Telecom, Healthcare, Transportation & Tourism and Energy and Utilities are the key application verticals in the 3rd platform market. The 3rd platform wave has impacted almost all industries and has improved efficiency and streamlined operations.

The market leading vendors in the 3rd platform market are Facebook, IBM, LinkedIn, and Adobe, Citrix, Salesforce, Microsoft, Accenture, Rack space, Red hat and TCS, MobileIron, Right Scale, and Splunk are other prominent vendors in the market. Vendors are maintaining their market position by introducing new products, services and solutions. Key players in the market are entering into strategic collaborations to improve their capabilities and to reduce time to market.

“The 3rd platform market will evolve around cloud, big data, mobile and social technologies; enterprises will aggressively adopt these technologies to take advantage of BYOD and growing mobile employees worldwide,”said Jaydeep Bhattacharjee, Group Head at Infoholic Research.​ 

Key Takeaways

  • The technology segment comprises almost 90 percent of the 3rd Platform Market
  • Consumerization and BYOD are changing the face of global businesses. The mobile segment would be the major contributor to the overall market revenue
  • Retail segment is the highest contributor to the market revenue. Mobile e-wallets, mobile POS system and mobile applications are contributing to the growth of this segment

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Report Highlights

  • The report covers drivers, restraints and opportunities (DRO) affecting the market growth over the forecast years (2016–2022)
  • Information related to latest industry and market trends, key stakeholders, industry pest analysis, Porter’s Five Forces analysis and competitive landscape
  • The report covers competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations and competitor comparison analysis
  • Competitive benchmarking of the leading vendors based on key metrics — key offerings, recent developments, business objectives, business strategy, SWOT analysis, etc.
  • Implementation, opportunities and adoption rate of 3rd platform technologies in various industries

Press and Media Contacts

Bhaskar Jyoti Nath​
​Infoholic Research LLP
+91 8867685927, +91 8971243001​

Source: Infoholic Research