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

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.