Mobile Application Market: Overview
The smartphone revolution is chugging the mobile application market with good growth over the years. Over a decade ago, mobile phones were limited to just calling and SMS. As the years rolled on, various operating systems like Android and iOS served as a magnet to convince an individual to buy the latest smartphone with great features and mobile applications.
Mobile applications are software applications created for smartphones. Furthermore, these applications are designed in accordance with the type of operating system a specific smartphone has. Mobile applications can be categorized into various sections such as games, social networking, lifestyle, productivity, navigation, business and finance, entertainment, books, etc.
A rise in demand for better-featured smartphones loaded with good processing speed and other similar capabilities gathers steam for an improved growth rate of the mobile application market.
An upcoming research report by Transparency Market Research offers a flawless analysis of the mobile application market for the forecast period 2019-2027. It thoroughly analyses the growth opportunities and future prospects present in the mobile application market.
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Mobile Application Market: Competitive landscape and notable developments
The mobile application market is densely competitive and many application developers are in the fray for competing with each other. There are many regional and global players in the mobile application market. Application developers have started developing applications using augmented and virtual reality and other similar technologies. This is because of the growing demand for such applications. For instance, Pokémon Go, with its AR mode created quite a buzz among the global populace. Snapchat, the popular social networking app with augmented reality feature has also gained considerable popularity since its inception.
There are many application development companies competing in various sectors. Some of the prominent players in the mobile application market are WhatsApp, Snapchat, Instagram, and Facebook.
A recent development in the mobile application market is the use of Beacon, an emerging technology that utilizes the Bluetooth Low Energy (BLE) signals. This technology helps in connecting various business enterprises with their customers. This technology is expected to boost the mobile application market in the forecast period.
Mobile Application Market: Key trends
The gaming sector is a prominent aspect of the mobile application market. Furthermore, social media applications are also a hit among individuals. Social media has almost become the shadow of an individual. The global consumer spend rate on app stores also increased by over 75 percent since 2016. In addition, there has been tremendous growth in terms of smartphone sales over the years. This has led to the emergence of a plethora of compatible applications on both Android and iOS app stores.
Mobile wallets are also gaining proximity over the years. The usage of mobile wallet applications has seen a surge over the years. In terms of entertainment, video streaming apps such as Netflix and Amazon Prime Video have gained significant buzz. Therefore, these applications will also serve as a growth factor regarding the mobile application market. Food delivery apps like Swiggy and Zomato have also cemented their positions in the mobile application market. This has also led to an increase in the growth rate of the mobile application market.
Moreover, the security threats associated with downloading apps may hinder the growth of the mobile application market during the forecast period. In addition, privacy concerns over certain applications may further dampen the growth of the mobile application market. Gaming segment also has great potential
Mobile Application Market: Regional analysis
The mobile application market is bifurcated in North America, South America, Latin America, Middle East & Africa, and Europe. The Asia Pacific may dominate the market in the forecast period. Furthermore, North America is expected to finish in the second position.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.