Global Intelligent Apps Market to Cross $150 Bn by 2027, Global Market Insights, Inc.

SELBYVILLE, Del., Feb. 25, 2021 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the intelligent apps market which estimates the market valuation for intelligent apps will cross US$ 150 billion by 2027. Increasing demand from enterprises to analyze consumer and business requirements based on historical & real-time data is expected to contribute significantly to the industry growth.

The growing emphasis on personalized user experience and gaining customer insights are expected to support the intelligent apps market growth. The advanced capabilities to process real-time and historical data by using AI and ML technologies are driving the demand for intelligent apps. Intelligent apps incorporate big data analytics functions to process a large volume of consumer datasets. Companies use intelligent applications to deliver personalized user experience and gain actionable suggestions.

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The commercial apps segment is anticipated to grow at around 40% CAGR through 2027. Intelligent commercial apps help in diverse applications such as alerting individuals over their smartphones in a production environment, management of smart home appliances, and evaluation & prioritization of leads. In addition, the growing demand for business mobility and integration with data analytics & IoT is contributing to the demand for commercial intelligent apps.

The on-premise deployment segment is expected to witness steady growth during 2021 to 2027. Several cost benefits and extended scalability offered by on-premise intelligent apps are contributing to the significant growth. The on-premise deployment helps in eliminating the cloud gateway requirements and reduces risks associated with cyberattacks. In addition, companies integrate intelligent apps with existing application systems to provide a personalized user experience to diverse customers.

The iOS segment is projected to dominate the intelligent apps market with a share of above 35% by 2027. The applications developed for iOS feature robust security and incorporate cognitive technologies such as AI & ML. In addition, smartphones based on iOS are embedded with machine learning algorithms to facilitate enhanced personalization options. There are multiple intelligent apps, such as Wysa, Youper, Elsa, etc., that are available on Apple's application store. The early technological developments and deployments have contributed to the dominance of the iOS segment.

The adoption of intelligent apps across the healthcare sector is increasing significantly and is estimated to expand at 35% CAGR through 2027. Healthcare enterprises are required to enhance the collaboration between the medical workforce and patients. These applications provide automated consultation booking and reminders for medications. In addition, healthcare employees leverage granular insights related to consultations, equipment availability, and others. The increasing digitization and adoption of mobile devices in a healthcare environment are anticipated to fuel the demand for intelligent apps.

North America is poised to hold above 25% of the intelligent apps market share in 2027. The widespread presence of prominent enterprises including Amazon Web Services, Inc., Apple Inc., and Google LLC. has contributed to the regional growth. Amid the COVID-19 pandemic, enterprises in the region are focusing on the collaborative development of intelligent apps. For instance, in April 2020, Apple Inc. and Google LLC entered into a partnership for the development of advanced APIs for contact tracing. The companies developed advanced APIs with robust interoperability capabilities to enable access to respective healthcare information.

Companies operating in the market are focusing on the development of advanced intelligent apps for diverse application requirements. In February 2018, Oracle launched a new AI app, Oracle Adaptive Intelligent Applications for Enterprise Resource Planning (ERP). The tool enhances the existing solutions, such as procurement, order management, and financial management, in the enterprise via automation to improve the efficiency and productivity of the organizations. This helped the company to serve enterprises with large supply chain workflows.

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Some major findings of the intelligent apps market report include:

• The growing need to enhance business efficiencies and remote customer engagement access across enterprises are supporting technology development in the market.
• North America is expected to hold a major market share due to the widespread penetration of technology enterprises.
• Major players in the intelligent apps market are Amazon Web Services, Inc., Apple Inc., Baidu Inc., Google LLC, IBM Corporation, Intel Corporation, and Oracle Corporation
• Companies operating in the market are focusing on the development of advanced APIs with robust interoperability capabilities.

Partial chapters of report table of contents (TOC):

Chapter 3   Intelligent Apps Industry Insights

3.1    Introduction

3.2    Industry segmentation

3.3    Impact of COVID-19 outbreak

3.3.1    By region

3.3.1.1    North America

3.3.1.2    Europe

3.3.1.3    Asia Pacific

3.3.1.4    Latin America

3.3.1.5    Middle East & Africa

3.3.2    Industry value chain

3.3.2.1    Intelligent apps technology providers

3.3.2.2    Marketing & distribution channels

3.3.3    Competitive landscape

3.3.3.1    Strategy

3.3.3.2    Distribution network

3.3.3.3    Business growth

3.4    Intelligent apps industry ecosystem analysis

3.5    Technology & innovation landscape

3.5.1    Chatbots and automation

3.5.2    Artificial Intelligence and Machine Learning

3.5.3    Intelligent virtual assistants

3.6    Regulatory landscape

3.6.1    Standards on Privacy and Web Analytics (Canada)

3.6.2    Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U

3.6.3    General Data Protection Regulation (EU)

3.6.4    Exception of Text & Data Mining (TDM) in Copyright in Digital Single Market (DSM Draft Directive - EU)

3.6.5    Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.6.6    The General Data Protection Law (Brazil)

3.7    Industry impact forces

3.7.1    Growth drivers

3.7.1.1    Increasing use of smartphones for enhanced business mobility

3.7.1.2    Growing customer demand for personalized service experience

3.7.1.3    Rising trend of real-time mobile advertising across enterprises

3.7.1.4    Increasing competition among retailers and increasing need for differentiation

3.7.2    Industry pitfalls & challenges

3.7.2.1    Data security and privacy concerns

3.7.2.2    Lack of technical expertise

3.8    Growth potential analysis

3.9    Porter's analysis

3.10    PESTEL analysis

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Intelligent Apps Market size worth over $150 Bn by 2027
Intelligent Apps Market size is set to surpass USD 150 billion by 2027, according to a new research report by Global Market Insights, Inc.

SOURCE Global Market Insights, Inc.