Mobile Application Market shareregistered a value of USD 153 Billion in 2019 and is anticipated to witness 11%CAGR over the next seven (2020-2027), owing to the growing use of Machine Learning and Artificial Intelligence technologies in mobile applications.
Expansion across gaming industry, accelerating penetrationof smartphones, innovations in network, and improving potency of mobileadvertising are some major factors driving the mobile application market growth. With the rapid digitalization, smartphones have proved to be the most convenient devices that help individuals connect with each other and monitor health and well-being. Thus, as per the Mobile Application Marketanalysis, owing to the growing prominence of smart phones,the mobile application market has bolstered. Growing adoption of IoT and smart devices connected with mobile such as sports equipment, LED light bulbs, domestic appliances, and medical devices have indirectly fueled the market share.
By business model, the native mobile application store willwitness a higher CAGR over the forecast period. Native mobile applications enableindividuals to install and uninstall applications depending upon their choice, which strengthens the global Mobile ApplicationMarket growth.
By region, North America is predicted to emerge as thefastest growing nation over the forecast period. The strong presence ofprominent market players and the growing investment in research and development by key players have resulted in technological advancements, which will drive the Mobile Application market size.
Leading players operating in the market include Google LLC, AppleInc, China Mobile Ltd, Spigot Inc, (Getjar), Handster Inc, LG Electronics, PalmInc, Microsoft Corporation, Nokia Corporation, and Samsung Electronics Co. Ltd.
In 2019, Apple Inc, collaborated with Salesforce.com Inc, tointroduce a redesigned Salesforce Mobile App and learning app, called TrailheadGoon Apple iOS and iPadOS.
In 2019, Microsoft Corporation adopted Mover, a cloud vendorfor file migration. This adoption helped Mover offer a smooth filecollaboration across Microsoft 365 apps and services, which includes Microsoft Teams and Office Apps.
Mobile Application Market Segmentation:
MobileApplication Market by Categories
- Social Networking
- Business and Finance
Mobile ApplicationMarket by Business model (store):
- Native or on deck
- Third party or off deck
MobileApplication Market by Participants
- OS/handset manufacturers
- Application developers
MobileApplication Market by Region:
- Asia Pacific
o Rest of APAC
- North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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