Global Smartphone Applications Market – Overview
The global smartphone applications market is expected to grow exponentially over the forecast period owing to surging demand for smartphones and tablets. The market is expected to witness unprecedented growth owing to rising proliferation of internet-based services. Smartphone applications ease managing programs, documents, photos and music which may further drive market demand significantly.
Global Smartphone Applications Market – Notable Developments
Some of the key companies operating in the global smartphone applications market are Apple Inc., Google Inc., QBurst, Sourcebits Inc., Blackberry Ltd., OpenXcell Tehnolabs Pvt. Ltd., Softeq Development Corporation, Handmark Inc., Microsoft Corporation and Y Media Labs, Inc. The companies in the market are expected work on improving the optimization, experience, aesthetics, and overall user journey through the app. They are investing heavily to provide highest levels of customization to make each user feel valued.
- Recently Manchester United launched a new version of their smartphone applications which asked users to state their favorite player and number to be printed upon their virtual avatar on the app.
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Global Smartphone Applications Market – Drivers and Restraints
One of the key driving factors for the growth of the global smartphone applications market has been increasing digitization and urbanization across the globe. In recent years, the reach of smartphones and internet has grown exponentially. Even remotest regions are now connected with the help of smartphones and internet. Applications or apps are have now become an integral part of this ecosystem. Moreover, the companies operating in the global market are now trying to create a highly sophisticated and customized experience for their application users. Thus, the demand for high-end smartphone applications is on the rise and ultimately helping to drive the overall growth of the global market. Another important factor for the growth of the global market has been the growing spending power of the consumers. Several of the smartphone applications offer in-app purchase offers. They tend to get good response if the services are productive and efficient. Thus, apps have become a key source of revenue for multiple organizations. Moreover, constant technological advancements are also projected to drive the growth of the global market in the coming years of the forecast period.
One key factor restraining the growth of the market has been the concerns related to the security of these applications. Several well publicized data leaks and breaches have raised even more questions about the long term reliability of these apps. Another important restraining factor for the market growth has been the data privacy and misuse of the information.
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Global Smartphone Applications Market – Geographical Outlook
The global market for smartphone applications is segmented into five key regional segments in order to offer a detailed overview of the overall geographical outlook. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global market has been mainly dominated by the regional segment of North America. The growth of the market is mainly attributed to the presence of well-established tech giants and other companies. The North America market is expected to be fairly saturated in terms of growth. It is projected that the region will witness a steady growth in the near future.
On the other hand, the regional segment of Asia Pacific is expected to witness a highly promising rate of growth in the coming years of the forecast period. The growth of the global market is mainly attributed because of the growing demand from the emerging economies in the region such as India and China. Both these nations are undergoing fundamental technological transformations. There are several new tech unicorns emerging from the regions who are launching their own smartphone applications in order to better sever their consumers. This is likely to help in the development of the regional market.
The changing focus of information media and entertainment industry has shifted the smart phone application market from being a niche market to an ordinary market with more and more people owning a smart phone these days. As people are becoming tech-savvy, smart phones are becoming increasing popular. Smart phone applications are useful for managing programs, photos, music, documents and many other things. Smart phones have different appearances, looks and quirks and are very easy to operate.
In 2011, the smart phone application market was about USD 6.7 billion which is expected to be USD 155 billion with CAGR of almost 55% from 2011 to 2017. Developing countries like India and China are expected to be the growing market for smart phone applications in the coming years.
This report will provide the 2011 global smart phone application market size, share and the forecast for the period 2012 to 2018. On the basis of its different applications, smart phone stores are divided on the basis of application stores i.e. application store by key metrics and application store by ranking. The smart phone application market is divided into four regions -U.S, Europe, Asia and ROW.
This report also includes company profiles of some major market players in the smart phone application market like Adroid, iPhone, Symbian, Windows, Black berry and others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This research report provides forward looking perspective on major factors affecting market growth and those responsible for driving this market
- It provides technological growth map over time and explains its impact on industry
- Report provides clear understanding of key product segments and competitive environment
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- Report provides up-to-date analysis of latest trends in market
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
- It provides complete analysis of major competitors and their strategies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?