Uncertainty of enterprises in developing their own applicationsĭifferent organizations are investing huge amounts in developing their own applications due to surging uncertainty of the available applications and increasing cost of different applications. For instance, according to a study conducted in India, the number of internet user in rural areas has reached 627 million in 2018, thus driving the growth of the market. Moreover, increase in various offers provided by different network providers for low cost data plans reduces the costs of internet and helps developing countries to easily adopt these cost-effective services. In addition, the number of online buyers has significantly increased owing to growth in the e-commerce industry, product assortment, attractive offers, and various discounts that are available only on e-platforms. Internet helps the users to access different applications with minimum costs & efforts and provides a faster way of communication. Furthermore, over the past decade, internet has emerged as a prime medium of communication through various devices such as laptops, smartphones, and tablets. Increase in data usage and internet penetration has been one of the major factors driving the growth of the market in developing countries such as China, India, and Brazil. Increase in data usage & internet penetration
These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. The mobile apps market report analyzes the profiles of key players operating in the market Apple Inc., CA Technologies, Cognizant, China Mobile Ltd, Hewlett Packard Enterprise, Intellectsoft, Google LLC, International Business Machines Corporation, Microsoft Corporation, and Verbat Technologies. Furthermore, the entertainment and music segment is expected to grow at a significant CAGR during the forecast period, owing to rapid increase in usage of different entertainment applications. The gaming segment dominated the mobile application market in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in number of mobile gaming application in developing nations such as China and India, which drive the growth of the market. Furthermore, growth in investment in digitization and increase in adoption of internet of things technology and mobile connected smart objects are expected to provide major opportunities for the growth of the market during the forecast period. Lack of high-speed connectivity in developing & undeveloped regions and uncertainty of enterprises in developing their own applications are expected to impede the mobile application market growth. Get more information on this report : Request Sample Pages In addition, continuous growth in enterprise apps, increased focus on apps specifically used for health & fitness as well as high downloads and in app purchases for gaming apps fuel the growth of the market. The mobile application market trends include increase in the adoption of variable devices and rise in customer base for the e-commerce industry, which are the major factors driving the growth of the market.
The primary goal of mobile application is to help users to connect them to internet services by enabling them to use the internet on their portable devices. Mobile applications frequently serve to provide users with similar services to those accessed on PCs.
Mobile applications are the different types of software applications that are designed to run on various smartphones, tablets, and computer tablets.
The global mobile application market size was valued at $106.27 billion in 2018, and projected to reach $407.31 billion by 2026, growing at a CAGR of 18.4% from 2019 to 2026.
Mobile Application Market Statistics - 2026