Market Highlights
Increasing availability of innovative mobile applications to carry out various functions including online shopping, bill payments, money transfer, e-wallets, and others and increased usage of smartphones in all the age groups are majorly fueling the growth of the global mobile application market. Improved internet connectivity, increased availability of smartphones at affordable prices and rise in LTE adoption are also propelling the growth of the global mobile application market.
The large-scale penetration of smartphones has led the way for the adoption of mobile applications. In fact, most of the websites have also shifted to mobile applications for reaching out to their customers. Market Research Future (MRFR) has asserted in its report that the global mobile application market is expected to strike a healthy CAGR of 14% across the projection period 2017 to 2023 and reach USD 165 Bn mark by 2023.
Regional Analysis:
The global mobile app market size has been geographically segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. The Asia Pacific region commands the major share of the global mobile application market owing to the increasing demand for online services, expanding user-base of smartphones due to the availability of affordable mobile phones, improved internet connectivity and rise in demand for application-based solutions in the emerging economies of this region.
Rapid adoption of cloud-based solution, development of innovative applications to carry out various day-to-day activities, increasing popularity of e-commerce web apps and easy adoption of technologically advanced solutions are propelling the growth of the mobile application market in the North America region. High demand for mobile-based applications and increased reliance on cloud-based solutions are fueling the growth of the mobile application market in the Europe region.
Segmentation:
The segments of the mobile application market, based on category, are gaming and non-gaming. The non-gaming segment encompasses sub-segments such as productivity, social media, entertainment, browser, and others. The gaming segment has witnessed a higher rate of downloads and usage. It is anticipated to exhibit substantial growth over the next couple of years.
The different platforms identified for the segmental analysis of the mobile application market are iOS, Windows, Android, and others. Among these, the Android segment is currently leading the growth of the market and is poised to maintain its standing at the forefront position in the years to come. Also, the iOS segment holds tremendous potential for growth and is likely to secure the second spot through the forecast period.
The mobile application market, based on application, has been segmented into retail, airlines, banking, media, transport, hotels & restaurants, education, and government.
Competitive Dashboard:
Google Inc (U.S.), Willow Tree, Inc (U.S.), Nokia Corporation (Finland), Intellectsoft US (U.S.), Microsoft Corporation, (U.S.) Amazon Inc (U.S.), Y Media Labs (U.S.), Gameloft SE (France), Appster (Australia), and Konstant Infosolutions (India) are some of the major participants of the global mobile application market. These players have been assessed in the share analysis of the market included in this MRFR report for offering an informative insight.
An analysis of the competitive landscape of the market reveals that it is anticipated to attract investments over the next few years and also pave the way for new participants. The players of the mobile application market are presumed to resort to strategies such as partnerships, technological innovations, mergers & acquisitions, collaborations, product portfolio development, etc.
