The global mobile application market size is expected to reach USD 260.38 billion in 2024 and USD 505.74 billion by 2029, growing at a CAGR of 14.2% during the forecast period.
The study objective includes the analysis of key trends of the global mobile application market over the forecast period.
Mobile applications are software applications that are designed to run on various tablets, computer tablets, and smartphones. They serve to provide users with similar services to those accessed on PCs frequently. The foremost purpose of any mobile application is to help users to connect them to internet services by enabling them to use the internet on their portable devices.
The probability of consumers spending on mobile communication, media, and entertainment is being affected by the rising disposable income increases, which, in turn, leads to higher potential sales of mobile applications.
Artificial intelligence (AI) has been an integral part of different smartphones and their development for few years. Implementation of AI and machine learning in smartphones is to improve various features such as camera and security applications. Further, several companies continue to implement artificial intelligence in smartphones and tablets to empower their mobile applications and increase the performance of various mobile devices, thus offering lucrative opportunities for the mobile application market.
The predominant factors driving the growth of the global mobile application market over the forecast period include advancements in the e-commerce, electronic, and telecommunication industries. Some of the other key factors that can contribute to the growth of the global mobile application market include increasing LTE adoption, growing internet penetration, and rising subscription in social media. Moreover, an increase in various offers developed by the various network providers for low-cost data plans reduces the costs of the internet and helps developing countries to easily adopt these cost-effective services. Furthermore, mobile-connected smart objects and the increase in adoption of internet of things technology can be the providers of major growth opportunities in the global mobile application market over the forecast period.
The predominant restraining factors hampering the mobile application market's growth are the uncertainty of enterprises in developing their own applications and the lack of high-speed connectivity in developing & undeveloped regions.
Some of the other restraining factors which would likely hamper the growth of the global mobile application market include huge investments by various organizations in need of developing their own applications due to surging uncertainty of the available applications and increasing cost of different applications, and the need for updating various applications on a regular basis to ensure seamless app operations and transactions, because of which there has been an increase in the amount of time and money required for upgradation of these applications.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
14.2% |
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Segments Covered |
By Market Place, App Category, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Apple Inc., Microsoft Corporation, Google LLC, Cognizant, Verbat Technologies, International Business Machines Corporation, Hewlett Packard Enterprise, China Mobile Ltd, CA Technologies, and Intellectsoft and Others. |
the global mobile application market is divided into Google Play Store, Apple iOS Store, and Other Marketplaces (Microsoft). The Apple App Store segment is expected to witness a CAGR of around 11% over the forecast period.
the global mobile application market is divided into Gaming, Retail & e-Commerce, Music & Entertainment, Education & Learning, Travel & Hospitality, Health & Fitness, and Others (Navigation, Utilities, and News). The gaming segment has been dominating the mobile application market and is expected to continue its dominance over the projection interval because of the rising number of mobile gaming applications in developing economies like India and China. This could drive the growth of the gaming segment in the global mobile application market. In contrast, the entertainment and music segment is expected to grow at a significant CAGR over the study period due to a quicker increase in penetration of different entertainment applications.
North America has been dominating the market for many years and is expected to continue its dominance over the forecast period. The high share in terms of revenue for this region is due to the presence of numerous leading players such as Apple Inc.; Hewlett Packard Enterprise; Google LLC; Netflix Inc.; and Microsoft Corporation and others in the various countries of this region. A relatively greater number of mobile application downloads, high smartphone penetration, and strong in-app purchases from the consumer have together ensured a high market share. The U.S. has been emerging as a lucrative market for mobile games application in terms of paid mobile games, in-app payment, and swiftly increasing mobile apps user base in the country.
The mobile application market in the Asia Pacific is expected to be the fastest-growing, owing to the potential this region holds in terms of increasing smartphone adoption and growing internet penetration. China, Japan, and India are expected to remain the major markets, offering strong growth opportunities to all participants across the mobile application ecosystem. Furthermore, growing disposable income supported by government initiatives like Digital India is expected to positively impact the regional market growth in the near future. Moreover, advancement in networking and the availability of low-cost mobile data usage packs are the other key drivers fueling the market growth regionally.
The Intended Audience for the global Mobile Application Market includes Device manufacturers, Games developers, Software investors, store providers, Mobile App developers, Software Developers, Mobile phone distributors, Government agencies, IT enablers, and Research firms.
The Key Market Players in the global mobile application market ecosystem include Apple Inc., Microsoft Corporation, Google LLC, Cognizant, Verbat Technologies, International Business Machines Corporation, Hewlett Packard Enterprise, China Mobile Ltd, CA Technologies, and Intellectsoft, among others.
Incapptic Connect GmbH, a mobile app developer, was acquired by MobileIron Inc. in April 2020 so as to develop and deploy secure mobile business apps.
AppSheet was acquired by Google LLC in January 2020. AppSheet was a provider of a no-code development platform for application software.
By Market Place
By App Category
By Region
Frequently Asked Questions
Key trends include the rise of 5G technology, increased adoption of AR and VR, the growth of mobile commerce (m-commerce), the expansion of mobile gaming, and the increasing importance of AI and machine learning in app development.
Mobile applications generate revenue through various models including in-app advertising, in-app purchases, subscription services, pay-per-download, and sponsorships. Freemium models, where basic app features are free but advanced features require payment, are also popular.
Mobile app analytics play a crucial role in the market by providing insights into user behavior, app performance, and engagement metrics. These insights help developers optimize user experience, improve app functionality, and strategize monetization efforts.
Challenges include intense competition, app discovery issues, ensuring app security and privacy, maintaining user engagement, and navigating varying regulations across different regions. Additionally, the rapid pace of technological change requires continuous innovation and adaptation.
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