The mobile apps market will grow by $164.53 billion during 2019-2023. The market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
The report provides a detailed analysis of the market by application (entertainment, social networking, finance, healthcare, and others), platform (iOS, Android, and others), revenue model (advertising, in-app purchases, freemium, pay-per-download, and subscription), and region (Americas, APAC, EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including Alphabet, Apple, Microsoft, Netflix, and Niantic.
Market Overview
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Market Segmentation
Mobile Apps Market by Application
- Entertainment
- Social networking
- Finance
- Healthcare
- Others
Mobile Apps Market by Platform
- iOS
- Android
- Others
Mobile Apps Market by Revenue Model
- Advertising
- In-app purchases
- Freemium
- Pay-per-download
- Subscription
Mobile Apps Market by Region
- Americas
- APAC
- EMEA
Market Competitive Analysis
The market is fragmented, and the degree of fragmentation will increase during the forecast period. Several market vendors are focusing on integrating mobile apps with IoT devices to increase their share in the mobile apps market. Alphabet, Apple, and Microsoft are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the threat of cyber-attacks will challenge the growth of the market participants. To increase their mobile apps market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this mobile apps market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this mobile apps market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading mobile apps companies, including:
- Alphabet
- Apple
- Microsoft
- Netflix
- Niantic
Mobile Apps Market: Key Drivers and Trends
The growing penetration of smartphones will be a significant factor in driving the growth of the mobile apps market. Smartphone manufacturers are increasingly focusing on launching new mobile phones with enhanced features, such as better processing speeds, battery life, storage, display quality, and software capabilities. These features allow users to perform multitasking, wherein users can operate multiple mobile apps at the same time. Smartphones are also being upgraded in terms of additional functionalities for display, camera, memory, processors, and other technical specifications. The increasing launch of such high-end smartphones is expected to boost the demand for mobile apps during the forecast period.
- The development of hybrid mobile apps will be one of the critical mobile apps market trends contributing to market growth.
- Hybrid mobile apps are built-in combination with web technologies such as HTML and JavaScript.
- The use of mobile WebView for creating mobile compatible web apps enables application access to the hardware components of the devices, including accelerometer and camera.
- These apps also enable easy scalability and inter-platform development of mobile apps.
- During 2019-2023, the mobile apps market will grow at a CAGR of almost 18%.
Mobile Apps Market: Segmentation by Region
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APAC is one of the largest markets for mobile apps, and the region will offer several growth opportunities to market vendors during the forecast period. The large customer base of mobile phones in APAC will be a significant factor contributing to mobile apps market growth in this region.
During the forecast period, over 47% of the overall market growth will originate from APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Mobile Apps Market: Segmentation by Platform
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Apple iOS is the most preferred platform for mobile app developers because of the higher monetization rate of iOS apps. The launch of new devices, software, and functionalities are expected to boost the growth of the mobile apps market in this segment.
However, market growth in this segment will be slower than the growth of the market in the Android segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the mobile apps market size.
Mobile Apps Market: Key Highlights of the Report for the Forecast Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the mobile apps market during the next five years
- Precise estimation of the global mobile apps market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the mobile apps industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of mobile apps vendors
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