Mobile Application Market Analysis: Share, Size, and Forecast
Mobile Application Market Overview
User-friendly interfaces and their ease of use has helped the mobile application market grow significantly over the past four years. At the end of the forecast period 2014-2019, the mobile application market will have grown at a CAGR of approximately 30%. The strong growth of this market is expected to continue, with mobile application market size expected to grow nearly USD 165 billion between 2019-2023. Due to increased demand, smartphone manufacturers are focusing on launching new mobile phones with enhanced features, which will contribute to the growth of the global mobile app industry. Increasing launches of high-end smartphones will further drive demand for mobile apps on smartphones during the forecast period.
Geographically, the Asia-Pacific (APAC) is the leader within the mobile application market owing to increasing levels of disposable income among consumers in the region. The increased adoption of mobile apps among the urban APAC population and the high demand for mobile apps in China, Japan, South Korea, and India, will further contribute to the growth of the mobile application market in APAC. Our research forecasts APAC to account for 47% of mobile application market share by 2023.
Mobile Application Market Insights
- The mobile application development platform market has been experiencing rapid growth owing to the need to automate application development processes. Mobile application development platforms reduce the complexities associated with developing and designing mobile and web applications. IT solutions such as backend-as-a-service (MBaaS) eliminate the need for application developers to create their back-end systems. This reduces the application development time, improves front-end tasks, and also enhances the UI design for better user experience. We forecast the rapid growth of this market to continue through 2020.
- The mobile application testing services (MAT) market will grow due to the rapid implementation of agile testing and test automation services. Some of the major factors responsible for the growing demand for MAT services is the increasing use of automation tools that focus on the quality of the product from the initial phase of software development to the product delivery stage. Moreover, the use of automated testing tools reduces the time spent on the entire testing process and the test code that is written just once can be used for a lifetime with little maintenance.
- The increasing adoption of technologically advanced mobile devices is one of the major factors driving the growth of the mobile map market, which will subsequently drive the growth of the mobile application market. Mobile device manufacturers are introducing new devices that can integrate location-based applications such as GPS-enabled applications. In addition, individuals rely on such devices to obtain information such as traffic updates, directions to nearby locations, and real-time information such as weather forecasts.
Mobile Application Market Share and Segmentation
Within our mobile application industry analysis, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market by mobile application categories, marketplace, platform, and end-user industry.
By platform, iOS will hold the highest market share of the mobile apps market until at least 2021. The rise in the number of iOS app downloads and the rising in popularity of the Apple App Store in the US and China will drive the growth of this segment.
Our mobile application market segmentation research offerings include:
- Mobile Application Market by Category
- Gaming application market
- Non-gaming application market
- Music and entertainment market
- Health and fitness market
- Travel and hospitality market
- E-Commerce and retail market
- Education and learning market
- Social networking market
- Productivity market
- Mobile Application Market by Marketplace
- Apple app store market
- Google play store market
- Mobile Application Market by Platform
- iOS market
- Android market
- Windows market
- Mobile Application Market by End-User Industry
- Mobile application market for banking industry
- Mobile application market for retail industry
- Mobile application market for airline industry
- Mobile application market for media industry
- Mobile application market for education industry
- Mobile application market for transport industry
- Mobile application market for hotels and restaurant industry
- Mobile application market for government industry
We at Technavio, with our comprehensive understanding of the mobile application market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our mobile application market reports offer the following insights:
- Mobile application market growth
- Mobile application market trends
- Mobile application market share
- Mobile application market size
- Mobile application market forecast
- Mobile application industry statistics
