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The mobile apps market size is estimated to grow at a CAGR of 22.97% between 2022 and 2027. The market size is forecast to increase by USD 1,095.9 billion. The growth of the market depends on several factors, including the growing penetration of smartphones, increasing focus on Augmented Reality (AR) apps, and the growing m-commerce industry.
This mobile apps market report extensively covers market segmentation by platform (android market, iOS market, and others), type (gaming, music and entertainment, health and fitness, social networking, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing penetration of smartphones is notably driving the market growth, although the threat of cyber attacks may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing penetration of smartphones is notably driving the Mobile Application Market growth. The increasing use of smartphones worldwide has presented potential growth opportunities for mobile applications. The smartphone market has grown rapidly over the years. Most of the growth in this market has come from low-cost smartphones. The rise of low-cost smartphones has led to high demand in countries like India, Vietnam, Philippines, Sri Lanka, and Pakistan in APAC. Spain and Greece in Europe are also seeing an increase in sales of low-cost smartphones. Many Chinese mobile computing device manufacturers, such as Xiaomi, OPPO, and OnePlus, are making substantial profits from selling low-cost smartphones. These smartphones integrate a number of features commonly found on high-end smartphones. Therefore, customers from these countries prefer to buy mobile devices from these brands. With the increasing demand, smartphone manufacturers are increasingly focusing on launching new phone models with enhanced features. Smartphone manufacturers focus on improving features such as processing speed, battery life, storage capacity, display quality, and the software capabilities of smartphones to support advanced functions. These features include multitasking apps, where users can use multiple mobile apps at the same time.
In addition, there is an increasing focus on upgrading the functionality of smartphones. For example, Google provides its Google Pixel smartphones with unlimited data storage and backup through the Google Drive app. These include extras for the display, camera, memory, processor, and other specifications. Hence, the increasing penetration of smartphones is expected to drive the growth of the market during the forecast period.
An increasing number of mobile apps for IoT devices is a key trend influencing the mobile apps market growth. IoT is the interconnection of physical devices, objects, and machines, connected by software and sensors over a network. Demand for IoT devices is growing rapidly due to their versatility, ease of use, and connected mobility features. Demand for IoT devices is driven by the increasing integration of IoT devices with smartphones using mobile apps. The number of annual smartphone shipments is expected to grow, and by 2022, smartphones are expected to account for more than 71% of all mobile phones used globally. An increasing number of smartphones can be integrated with many IoT devices, such as watches and glasses, using mobile applications.
Integrating mobile apps with IoT devices can provide better data logging and tracking for data analysis due to more flexible data sharing between devices than websites. As a result, many mobile applications are integrated with IoT devices. Hence, the increasing integration of IoT devices with mobile applications is expected to drive Mobile Application Market growth during the forecast period.
The threat of cyber attacks is challenging the mobile apps market growth. The dramatic increase in the number of Internet-related gadgets shows that there are more and more opportunities for our technology to be hacked or exploited by malicious individuals. Common attack methods include Denial of Service (DDOS) attacks, which involve overloading systems with connection requests, causing them to crash and potentially expose data or usurp computing power from utilities, which can be used to create botnets that attack other systems.
The frequency and severity of cyberattacks are increasing every year. Kaspersky Security experts reported that IoT devices suffered 1.5 billion attacks in the first half of 2021, and this trend will continue to accelerate into 2022. These factors could hinder market growth during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Mobile Apps Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alphabet Inc: The company offers different types of mobile apps in the google play store. It also provides different products and services such as Google Ads, Google Maps, Google Play, YouTube, and many more.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the Android market segment will be significant during the forecast period. The Android operating system is an important platform used to publish mobile applications in the market. Apps like Google Drive and Tinder are some of the most profitable apps in the Google Play Store. By 2022, the Google Play Store has about 3.553 million apps available to Android users. Over the years, the Google Play Store has become the preferred mobile app development platform for developers. This is mainly due to the increasing use of Android smartphones worldwide, which has resulted in increased demand for the Android operating system.
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The Android market segment was valued at USD 164.14 billion in 2017 and continued to grow until 2021. The new Android software launches and feature upgrades are increasing the demand for Android-based mobile apps worldwide. The new operating system includes artificial intelligence features, a simpler navigation system than previous Android versions, and a dedicated night mode. This will lead to an increase in the number of users using Android mobile applications, thereby driving the growth of the market.
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APAC is estimated to contribute 37% to the growth of the global mobile apps market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is dominated by APAC, thanks to the large mobile customer base. The increase in the mobile customer base in this region can be attributed to the increase in the disposable income of APAC consumers. The mobile customer base can be defined using unique mobile subscribers, defined as individual mobile customers. Individuals can have one cellular connection or multiple cellular connections. The number of unique mobile subscribers in Asia-Pacific is over 1.8 billion by 2022. This number is expected to reach 2-2.5 billion by 2025. This leads to the increasing penetration of smartphones in APAC, especially in countries like China and India.
In 2020, the COVID-19 outbreak resulted in the imposition of a lockdown that kept people indoors and increased demand for recreational activities. The activities also involved mobile app usage. People used the majority of apps(health and fitness, gaming, education, etc.) to get rid of boredom in their homes. Along with all this, governments from across the world launched COVID tracking and vaccination apps, which were widely used by consumers to track their vaccination status, download their vaccination certificates, and get the latest COVID updates from the government. All this had a positive impact on the growth of the market.
The mobile apps market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global mobile apps market as a part of the global application software market within the global IT software market. The parent global application software market consists of companies engaged in the development and production of systems and application software. It also includes companies that provide database management software. The global application software market consists of companies engaged in the development and production of software designed for specialized applications for the business or consumer market. It includes business and engineering software, as well as cloud-based software. It does not include companies classified in the sub-sector of interactive home entertainment and companies that manufacture software or database management systems classified in the sub-sector of systems software.
Mobile Apps Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.97% |
Market growth 2023-2027 |
USD 1095.9 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.85 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Japan, India, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Amazon.com Inc., ANI Technologies Pvt. Ltd., ASICS Corp., Canva Pty Ltd., Electronic Arts Inc., Grab Holdings Ltd., Meta Platforms Inc., Microsoft Corp., Mozilla Corp., Netflix Inc., Niantic Inc., One97 Communications Ltd., Spotify Technology SA, The Gap Inc., Uber Technologies Inc., Ubisoft Entertainment SA, Walmart Inc., Xiaomi Communications Co. Ltd., and Zomato Media Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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