Mobile Application Market Size, Share & Trends Report, 2029

 

Mobile Application Market

Mobile Application Market is expected to grow at a CAGR of 9.1% during the forecast period from 2022 to 2029.

The factors driving growth of the Mobile Application Market includes increasing internet penetration rates around the world, expansion of the e-commerce industry, rising popularity of mobile gaming applications, Government initiatives promoting digitalization, growing demand for smartphones and tablets and improvements in the living standards. For instance, approximately 4.2 billion people were using internet in 2019, this figure is predicted to reach 5.3 billion by the end of 2023, which will accelerate the Mobile Application Market size in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Augmented Reality (AR) and Machine Learning (ML), rise in the number of third-party application developers, and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships, and mergers between enterprises, rising population growth rates and growing disposable incomes, are further contributing to the market growth.

Request a free sample of this report

However, growth of the Mobile Application Market is hindered due to increasing focus of organizations on developing in-house apps.

The leading players operating in the market are LG Electronics, Palm Inc, Nokia Corporation, Apple Inc, Google LLC, Microsoft Corporation, Samsung Electronics Co. Ltd., China Mobile Ltd, Spigot Inc, (Getjar), and Handster Inc, among others.

Based on Categories, the Games segment is predicted to capture the largest market share during the forecast period

Increase in number of games downloaded on different platforms such as Android OS and windows, are pushing the segment’s growth.

Based on Business Model (store), the Native or on deck segment is projected to expand at a remarkable CAGR over the forecast period

Native mobile applications can directly communicate with the operating systems, and delivers high quality performance, which are propelling growth of the segment.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

As per the Mobile Application Market Forecast Report, presence of the leading players such as Apple Inc, Google LLC, and Microsoft Corporation, strong internet penetration rates, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Developments

  • In 2019, Apple Inc, entered into a strategic partnership with Salesforce.com Inc, and introduced a redesigned Salesforce Mobile App and learning app, named as Trailhead Goon Apple iOS and iPadOS.
  • In 2019, Microsoft Corporation completed the acquisition of Mover, a provider of cloud file migration. Through this acquisition, Mover planned to provide seamless file collaboration across Microsoft 365 apps and services, which includes Microsoft Teams and Office Apps.
  • In 2020, Incapptic Connect GmbH, completed the acquisition of MobileIron Inc., to establish and deploy safe mobile business apps.

Market Segmentation

Segmentation by Categories

  • Games
  • Social Networking
  • Books
  • Entertainment
  • Business and Finance
  • Lifestyle
  • Productivity
  • Travel
  • Navigation
  • Utilities
  • Others

Segmentation by Business model (store):

  • Native or on deck
  • Third party or off deck

Segmentation by Participants

  • OS/handset manufacturers
  • Application developers
  • Operators

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more