Tech

Mobile Application Market Recent Study Segments, Future Growth, Business Prospects

Market Highlights:

The mobile application is one of the fastest growing market and will continue to grow at a significant rate majorly due to increased penetration of smartphones and internet. The drivers that drive the market for mobile applications is the increased application of augmented reality and Virtual Reality. The smartphones at present are enabling the sensors like gyroscope, accelerometers and motion sensors in the smartphones and tablets to ensure the capability of AR & VR on the mobile phone through various apps. Games like ‘Pokémon Go’ follow this lead. This has also been affected by the IOT dominance majorly in smart homes. All the lighting, temperature, music and security controls are handled by the mobile applications connected via Wi-Fi or Bluetooth. Mobile applications have become a companion for any smartphone user whether it is a native application by trusted developers or some Third party developer applications, the rise of mobile application is significant which includes many different categories of mobile app usage. Due to better and interactive user interface, many new and emerging third party applications developers are entering the market.

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Major Key Players

Willow Tree, Inc (U.S.),

Google Inc (U.S.),

Nokia Corporation (Finland),

Amazon Inc (U.S.),

Intellectsoft US (U.S.),

Microsoft Corporation, (U.S.)

Y Media Labs (U.S.),

Appster (Australia),

Gameloft SE (France),

Konstant Infosolutions (India). The market for Mobile application is growing at a significant rate and includes many new entrants in the mobile app development market majorly in Smartphones & tablets under the gaming category with the increase in AR & VR advancements.

The Mobile Application Market is expected to reach approximately USD 165 billion by the end of 2023 with approximately 14% CAGR during the forecasted period from 2017 – 2023.

Regional Analysis

The competitive landscape of the mobile application market is formed by some major players and many of the new entrants in the third party application developers. The leaders constantly keep innovating for the new technology and investing in research and development. The mobile application market has driven many end users like banking, retailing, media, and government.

The segmentation is also divided on the basis of region under North America, Asia pacific, Europe and Rest of the world. Asia pacific region is expected to lead the market for mobile applications. This accounts for the increased usage of smartphone and internet in emerging economies like India and China. Another reason for the growth of market in Asia pacific region is due to the large concentration of smartphones manufactures. Out of top 10 smartphones manufacturers globally, 8 are based out of Asia pacific and 7 out of 10 are emerging companies from China. Also due to large population of these two countries, the smartphone per user ratio is also increasing which is giving rise for the application developers to develop new and technologically advanced application based on demographics.

Market Segmentation

The mobile application market has a huge segmentation on various basis. It is segmented here on the basis of Categories, Application Platform, End User and region. However on the basis of categories, the segmentation is further bifurcated on the basis of gaming and Non – gaming applications which is further divided into productivity, entertainment, social media, browser, and others. Out of gaming and non-gaming applications, gaming applications have witnessed most number of downloads and usage. Companies like Gameloft, EA sports, Ubisoft are developing the high end graphic games that are playable on the smartphones. The mobile applications have seen its usage in the sectors like banking, retail, airlines, transport, hotels & restaurants and government. The market is also segmented on the basis of platform used for the mobile application which is categorized under iOS, Android, windows and others. Out of these, Android is leading the platform space followed by iOS.

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Intended Audience

  • Device manufacturers
  • App store providers
  • Games developers
  • Mobile phone distributors
  • Mobile App developers
  • Research firms
  • Software investors
  • Software Developers
  • IT enablers
  • Government agencies

 

 

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