According to a new market study by Transparency Market Research (TMR), the global mobile applications (apps) market displays a moderate level of consolidation with companies such as Google Inc., Apple Inc., and Blackberry Ltd. occupying a dominant position in this market.
“Expansion and enhancement of online and retail sales channels top the growth charts of key companies in the global mobile applications market,” points out a TMR analyst.
High investment in research and development constitutes a key growth model that leading companies in this market are adopting. Strategic alliances and new product development is also what top players in this market are focused on for business growth.
“Strategic alliances are aimed at enhancing customer experience in areas of software applications, gaming, etc. For example, in June 2014, Blackberry announced the availability of Amazon Appstore for Blackberry users coinciding with the launch of Blackberry 10.3 operating system. This move is aimed for the easy accessibility of popular games and apps for Blackberry users.
Availability of High-speed Mobile Internet Networks Favors Market Growth
“The increasing adoption of smartphones and the increasing penetration of mobile internet is one of the major factors driving the growth of the mobile applications market,” says a TMR analyst. The number of smartphone users is expected to reach 2.08 billion by the end of 2016. With a range of built-in apps such as YouTube and Google Maps in smartphones, the mobile apps market is expected to rise in future. The increasing subscription for mobile internet or utilization of wireless broadband internet connection for operating mobile apps is also driving the demand for mobile apps.
The advancements in mobile internet networks is also a major factor propelling the mobile apps market. The telecommunication industry has developed exponentially over the past decade offering large bandwidth and high-speed mobile data networks such as 4G, 3G, and high speed broadband services.
The increasing demand for mobile apps for gaming and entertainment is also boosting the growth of the mobile apps market to a high degree. This is because mobile gaming apps account for almost 70% of total apps that are downloaded.
Advantages of Mobile Website Threaten Market Growth
The advantages of mobile websites pose a threat to the growth of the mobile apps market, points a TMR analyst. Mobile websites offer a host of advantages for mobile commerce and internet browsing over mobile apps. Not only do mobile websites offer immediate Internet access and enhanced user experience, but they also require less time and less developmental cost as compared to mobile apps. Last but not the least, the longer lifecycle of mobile websites and need for less upgradation as compared to mobile apps is also hampering the growth of the mobile apps market.
Third-party Stores Offer Lucrative Opportunities
The global mobile applications market is expected to be worth US$54.89 bn by 2020, states TMR. On the basis of category, in 2013, gaming and entertainment held a substantial 40% of the overall mobile apps market. The native store type segment led the market in 2013, this is because these apps are available on the application stores of the mobile device and platform provider. However, third-party stores will display high growth in the future.
In 2013, North America held 34% and dominated the global mobile apps market. Asia Pacific is expected to display the fastest growth in the future due to increasing penetration of smartphones in the large population base in this region.
The information presented in this review is based on the Transparency Market Research report, titled “Mobile Applications (Store Type - Native (On-deck), Third-Party (Off-deck)) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The global mobile applications market is segmented as follows:
Mobile Applications Market, by Store Type
- Native (On-deck)
- Third-party (Off-deck)
Mobile Applications Market, by Category
- Games and Entertainment
- Social and Personalization
- Music Audio and Lifestyle
- Travel and Navigation
- Others (Business, Finance and Utilities)
Mobile Applications Market, by Geography
- North America
- Asia Pacific
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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