USD 181.67 billion
Mobile Application Market Size, Share, Growth Analysis, By Type(Google Store, Apple Store, Others), By Application(Gaming, Music & Entertainment, Health & Fitness, Social Networking), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2165 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
66
|Figures:
75
Mobile Application Market Insights
Mobile Application Market size was valued at USD 181.67 billion in 2019 and is poised to grow from USD 206.85 billion in 2023 to USD 567.19 billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031).
Smartphone ubiquity, increased internet usage, and the incorporation of technology such as artificial intelligence and machine learning into mobile applications all indicate to future rise in demand for mobile applications (apps). Furthermore, the aforementioned programmes are often downloaded via app distribution websites such as the Google Play Store and the App Store for iOS.
The amazing increase in Internet usage, particularly in developing countries such as Brazil, China, and India, is the key driver of market expansion. Over the last decade, the Internet has emerged as the primary medium of communication via a variety of devices, including tablets, smartphones, and laptop computers, among others. Due to expansion in the e-commerce business, varied discounts and offers, and product selection that is only available on e-platforms, the number of mobile app purchasers has expanded in recent years. Another factor increasing mobile app downloads across all platforms is the availability of low-cost data plans and packages from telecom carriers, which lowers the cost of the internet and attracts more online users.
Increased internet penetration and gaming technologies have resulted in greater accessibility to mobile games. Furthermore, games and application developers generally use three income models: in-game purchases, paid game apps, and in-app adverts.
US Mobile Application Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Google Store
Fastest Growth
Google Store
Growth Rate
13.8% CAGR
Global Mobile Application Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Mobile Application Market Segmental Analysis
The Global Mobile Application Market is segmented on the basis of Type, Application, and Region. Based on Type the Mobile Application Market is segmented into Google Store, Apple Store, and Others. Based on Application the Mobile Application Market is segmented into Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-Commerce Others. Based on the region, the global Mobile Application market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Mobile Application Market Analysis by Type
In 2022, the Apple Store category had the biggest market share, accounting for more than half of worldwide sales. The significant percentage of money earned by in-app purchases and premium applications is principally responsible for iOS apps' considerably higher rate of monetization. Furthermore, a surge in iPhone and iPad users throughout the world is adding to the segment's growth. Furthermore, mobile gaming expenditure will make for a significant portion of income in 2022.
Mobile Application Market Analysis by Application
In 2022, the gaming application sector of the mobile application market had a revenue share of more than 35%. Furthermore, the category is predicted to maintain its dominance during the forecast period due to an extraordinary increase in gaming population and, as a result, the number of mobile gaming applications in economies such as China and India. Furthermore, the three major Operating System (OS) platforms for creating mobile games are iOS, Android, and Windows. The quantity of games downloaded on Android OS was significant in 2021, but iOS made more income due to the prevalence of premium games.
Global Mobile Application Market by Type, 2021 (%)
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Mobile Application Market Regional Insights
Given the region's potential for internet penetration and smartphone usage, Asia Pacific held the largest global mobile application market share. India and China are expected to remain big markets, with significant development potential for all participants in the mobile application ecosystem. Furthermore, rising disposable income combined with government programmes like Digital India are projected to boost regional market growth in the future years. Furthermore, the availability of low-cost data use packs and networking developments are major growth drivers in regional expansion.
Global Mobile Application Market By Geography, 2021 - 2028
- Largest
- Fastest
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Mobile Application Market Dynamics
Mobile Application Market Driver
Data use and internet penetration are increasing
- Increased data use and internet penetration have been important drivers driving market development in developing nations such as China, India, and Brazil. Furthermore, during the last decade, the internet has emerged as a primary mode of communication via a variety of devices such as computers, smartphones, and tablets. The internet allows users to access many apps with little fees and effort, and it also allows for speedier communication. Furthermore, due to the rise of the e-commerce business, product selection, appealing offers, and numerous discounts that are only available on e-platforms, the number of online customers has substantially expanded.
The use of machine learning and artificial intelligence in mobile apps is increasing
- Artificial intelligence is an essential component of several smartphones and their growth. Apple, Samsung, Huawei, and other smartphone makers are incorporating machine learning and artificial intelligence into the creation of their smartphone models, creating lucrative potential for market expansion. Furthermore, 200 mobile application businesses are predicted to incorporate AI artificial intelligence and machine learning in smartphones to improve functions such as camera and security apps, according to a survey.
Mobile Application Market Restraint
Battery use and performance
- Both of these elements are critical in the mobile app development process. An excellent app uses less battery power without sacrificing performance. In this regard, you can construct a beta version and carefully test it until it runs smoothly and without battery problems. You will have hurdles in mobile application testing if there are flaws, so be cautious and diligent during testing.
Screen Size and Device Compatibility
- Every company wants to make a good first impression on their customers. After all, the app's future is determined by how well it is received by its users. The most crucial criterion for a mobile app is device compatibility. Make certain that your software provides excellent service and is compatible with numerous devices not once, but twice. The choice of the operating system is critical. To execute, Apple and Android require distinct development procedures, UI/UX features, and frameworks, thus a company owner must conduct an extensive study on the nature of their business and their target audience before making a final decision.
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Mobile Application Market Competitive Landscape
According to our research, With the presence of several developers, the industry is tremendously fragmented. Some industry participants are expanding their capabilities through acquisitions and collaborations. Prominent manufacturers are always improving their goods in order to attract new clients and increase their Type range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provide market participants with profitable options. Furthermore, the increasing number of Type approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook.
Mobile Application Market Top Players Company Profiles
- Google LLC
- Apple Inc.
- Facebook Inc.
- Tencent Holdings Limited
- Alibaba Group Holding Limited
- Amazon.com Inc.
- Netflix Inc.
- Baidu Inc.
- Uber Technologies Inc.
- Lyft Inc.
- Twitter Inc.
- Pinterest Inc.
- Snap Inc.
- Microsoft Corporation
- Zoom Video Communications Inc.
- TikTok Inc.
- WeChat (Tencent)
- WhatsApp (Facebook)
- Instagram (Facebook)
- YouTube (Google)
Mobile Application Market Recent Developments
- In September 2022, Microsoft released the Windows 11 2022 Update in over 190 countries.
- In September 2022, China Mobile wishes to deregister its American Depositary Shares and cease reporting duties under the Securities Exchange Act of 1934.
Mobile Application Key Market Trends
- The worldwide mobile application industry is extremely competitive, with established and large market players present. Furthermore, some new players, like as Xiaomi and OnePlus, have recently acquired a considerable presence. Companies are mostly concerned with providing user-friendly applications with increased experiences. In addition, they included sophisticated technologies such as augmented and virtual reality into the new application to meet the customer's needs and provide a better experience.
- Free app downloads are expected to fall at a slower rate than premium app sales. According to recent admissions from two global mobile application giants, Apple and Google, the number of applications installed is expected to decline over time as customer demand for mobile apps is addressed. Another factor influencing the decline of the global mobile application industry is smartphone market saturation, which will result in fewer overall mobile app installations.
Mobile Application Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global mobile application market analysis, the main goal of the mobile application is to connect users to internet services by allowing them to use their mobile devices to access the internet. The adoption of various devices, as well as the rise of the consumer population in the e-commerce sector, are two major drivers fuelling the market's growth. Furthermore, the market's expansion is being supported by sustained growth in corporate applications, rising interest in health and fitness apps, and high downloads and in-app purchases for gaming apps.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 181.67 billion |
| Market size value in 2031 | USD 567.19 billion |
| Growth Rate | 13.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mobile Application Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mobile Application Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mobile Application Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Application Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Application Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile Application Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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