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.

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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.

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