Mobile Application Market is Booming Due to Rise in Penetration of Smartphones
Mobile Application Market, By Categories (Gaming and Non-Gaming), By Platform (iOS, Android, Windows and others), By End – User (Banking, Retail, Airlines, Media, Education, Transport, Hotels & Restaurants and Government) – Forecast to 2023
Pune, India – September 27, 2019 /MarketersMedia/ —
Market Highlights
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.
The availability of low- cost mobile data is expected to boost the expansion of the mobile application market over the next couple of years. In addition, the rising adoption of AR & VR technologies, especially for gaming applications, is likely to influence the consumer preferences positively in the years to come. Also, the introduction of mobile application payment gateways, supported by the governments for the promotion of a cashless economy, is expected to drive the growth of the mobile application market.
The developments in the telecommunications sector are anticipated to propel market expansion over the next couple of years. The introduction of 4G was a major turning point for the key players in the market. Taking into consideration the records, the commercialization of 5G by 2020 is expected to facilitate the growth of the mobile application market by leaps and bounds in the forthcoming years.
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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.
Regional Analysis:
The geographic evaluation of the mobile application market spans across four key regional segments – North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW). North America and Europe are significant regional segments of the market. These regions are anticipated to grow substantially over the next couple of years owing to the consolidation of developed economies. Asia Pacific is likely to develop at a rapid pace. The mobile application market in the region is expected to capitalize on the rising penetration of smartphones. Also, the digitization drive carried on by the governments is likely to favor market growth in the forthcoming years. The region is expected to witness an influx of new entrants, thus, accelerating growth pace of the mobile application market in the region.
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.
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List of Figures
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 MOBILE APPLICATION MARKET, BY CATEGORY (%)
FIGURE 3 MOBILE APPLICATION MARKET, BY PLATFORM (%)
FIGURE 4 MOBILE APPLICATION MARKET, BY END USER (%)
FIGURE 5 MOBILE APPLICATION MARKET, BY REGION (%)
FIGURE 6 NORTH AMERICA MOBILE APPLICATION MARKET, BY CATEGORY (%)
FIGURE 7 NORTH AMERICA MOBILE APPLICATION MARKET, BY PLATFORM (%)
FIGURE 8 NORTH AMERICA MOBILE APPLICATION MARKET, BY END USER (%)
FIGURE 9 U.S. MOBILE APPLICATION MARKET, BY CATEGORY (%)
FIGURE 10 U.S. MOBILE APPLICATION MARKET, BY PLATFORM (%)
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/mobile-application-market-4497
Source: MarketersMedia
Release ID: 88923569
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