BANGALORE, India, May 6, 2020 /PRNewswire/ -- The mobile application is one of the fastest-growing industries and will continue to expand at a significant pace due to increased smartphone and internet penetration.The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt, and will affect the mobile application market significantly in 2020.
The global mobile application market size in 2018 was estimated at USD 106.27 Billion and expected to hit USD 407.31 Billion by 2026, rising at a CAGR of 18.4% from 2019 to 2026.
The study focuses on the market analysis of mobile apps, growth opportunities, constraints, and trends. The report offers Porter's five forces analysis to understand the effect on the mobile device market of various factors such as supplier bargaining power, competitive strength of rivals, the threat of new entrants, the threat of substitutes, and buyer bargaining power.
TRENDS INFLUENCING THE MOBILE APPLICATION MARKET SIZE
The demand for mobile applications is increasing at a substantial pace and involves many new entrants in the mobile application development industry. The gaming segment is expected to grow with the rise in advances in AR & VR. Increased application of augmented reality and Virtual Reality is expected to increase the mobile application market size.
Increasing investments in digitization and increased adoption of the Internet of Things Technology and Mobile Connected Smart Objects are expected to provide substantial opportunities for growth of the mobile application market size during the forecast period.
Rise in the customer base for the e-commerce industry and increased focus on apps specifically used for health & fitness is expected to increase the mobile application market size. The number of online customers has increased dramatically due to growth in the e-commerce sector, product selection, enticing deals, and numerous discounts that are only available on e-platforms. The advantage of having a mobile application for even a small business is that it improves brand recognition and offers a whole new level of e-commerce user experience, helps create customer loyalty, gathers feedback, and helps stand out from the crowd.
MOBILE APPLICATION SHARE ANALYSIS
The gaming segment is expected to hold the largest market share for mobile applications in 2018 and is projected to continue to dominate during the forecast period. This exponential rise is due to an increase in the number of mobile gaming applications in developing countries.
In terms of region, North America is expected to hold the largest mobile application market share. It is closely followed by Europe. The dominance of North America & Europe is due to a rise in the disposable income and gaming population.
The Asia Pacific is projected to show the highest growth rate over the forecast period as the area experiences large amounts of downloads for mobile applications. The increasing penetration of smartphones is further anticipated to increase the Asia-Pacific mobile application market share.
MOBILE APPLICATION MARKET COMPETITIVE LANDSCAPE
Several big players and many of the new entrants in the third-party application developers shape the dynamic mobile device industry landscape. The leaders are constantly innovating with the latest technologies and investing in R&D to stay ahead of the competition.
Intelligent apps use artificial intelligence, big data & analytics, cognitive computing, and other functionalities to provide an advanced analytical output that can be used for various applications, such as virtual personal assistants, email prioritization, virtual customer assistants, security software, business applications, and more. The overall goal of intelligent apps is to work in harmony with existing tools and to make information more focused and personalized.
The global intelligent apps market is driven by the increasing need for advanced analytical tools, technical developments in new product creation, and expanded demand for big data & analytics. The presence of low awareness of products and services, however, is expected to hinder the market growth.
The mHealth market is driven primarily by the growing implementation of digital technology in healthcare and the need to shorten long waiting times for specialists. The mobile user applications is experiencing rapid growth, particularly healthcare apps that help consumers self-manage illness, wellness, and chronic conditions. The rise in awareness of staying up to date about their own healthcare decisions is expected to fuel the rise in the adoption of mHealth apps.
This study focuses on the status of the global mHealth App, future outlook, growth potential, key industry, and key players. The objective of this study is to present the growth of the mHealth App in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
High market penetration of smartphones, increasing IoT market, and high use of mobile apps, particularly for applications like gaming, media, e-commerce, and social networking, are the major factors driving the growth of the Mobile Application Development market
● Mobile Application Management Solutions Market Report
Mobile Application Management (MAM) software manages company data protection accessible via a mobile device by providing and controlling enterprise software on smartphones and tablets for the customers.
● Mobile Application Security Platform Market Report
The security market for mobile apps has been segmented based on technologies, implementation styles, user groups, and industry verticals. The global market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East, and Africa (MEA), and Latin America, based on regions. From 2015 until 2020, the global market will be given for each country.
Major mobile application security ecosystem players were established across the region and their products, medium of distribution; their regional presence was understood through in-depth discussions.
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