Global mobile application market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 14% during the forecast period.
Global Mobile Application Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
A mobile application is a software application or a computer program that is designed to run on a mobile device, such as a tablet, smartphone, smartwatch, and personal digital assistance (PDAs).
Market Dynamics
A surge in the adoption of mobile devices by consumers across the globe is a major driving factor behind the growth of the market. The Massive presence of mobile application developers and development companies, increasing adoption of Android and iPhone mobile users, rising demands of the mobile consumer for more personalized mobile apps which can respond to their unique requests, growing technological advancements in IoT based and cloud-based mobile applications and increasing use of voice-enabled and AI technologies for mobile app development are expected to improve the growth of the market during the forecast period. The rapid development of various kinds of mobile applications like mobile wallets, gaming apps, social media apps, food delivery apps, health and fitness apps, and many others are further propelling the growth of the market.
However, security and privacy concerns regarding fake mobile applications, insufficient transport layer protection, and risk of potential malware are major restraining factors that could hamper the growth of the market.
Global Mobile Application Market: Segmentation Analysis
By marketplace, Google play store segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Google Play store is a global online software application store that is developed by Google for Android devices. The growing adoption of Android mobile devices such as smartphones and tablets is attributed to the growth of the market. According to research, as of March 2020, the Google Play Store features more than 2.9 million apps. In 2019, Google play store users downloaded nearly 84.3 Bn mobile apps globally. Increasing demand for mobile applications by users has encouraged mobile app developers to develop more effective mobile apps. It is found that on an average 3739 mobile apps are added on play store every day. Growing technological advancements in mobile apps by Google is further impelling the growth of the market. For instance, in 2018, Google announced the latest Google Play store requirements to tackle extra-sharing of most sensitive information such as users’ text logs and call logs, and also Google is working with mobile developers to create applications which do not require SMS or Phone permissions for core app functionality. Alternatively, the Apple store segment is projected to witness fast growth at a CAGR of XX% during the forecast period. Apple Store is the second-largest mobile app store present across the globe with the availability of approximately 2.3 million mobile apps.
By the app category, the entertainment segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Increasing the use of media and entertainment mobile applications such as WhatsApp, Facebook, Facebook Messenger, Instagram, and many others is attributed to the growth of the market. According to research, there are above 2 Bn WhatsApp users across the world. In Feb 2020, nearly 96 million WhatsApp app is downloaded by users globally. Also, this app is available in more than 180 courtiers around the globe. India is the WhatsApp’s biggest market, with 340 million active users. Furthermore, the growing popularity of various educational, health related and gaming apps is expected to improve the growth of the market during the forecast period.
Global Mobile Application Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The developing economies such as China, India, and South Korea are major key contributors behind the growth of the market. The growth is attributed to the growing number of mobile phone users across the high populous countries such as India and China. Increasing the popularity of various entertainment and educational applications across the region is propelling the growth of the market. In 2019, India recorded a 19 Bn app download. In June 2020, the Indian government banned 59 Chinese apps including the most downloaded app such as Tik-Tok, Share it, UC Browser, and many others, which will further impact the mobile app market in the APAC region. The positive impact of this app ban in India is that mobile developers across the country are encouraged to develop more advanced mobile applications in the country itself, which will ultimately impel the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global Mobile Application Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Mobile Application Market dynamics, structure by analyzing the market segments and projects the Global Mobile Application Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Mobile Application Market make the report investor’s guide.
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The Scope of Global Mobile Application Market
Global Mobile Application Market, By Type
• Native App
• Web-Based App
• Hybrid App
Global Mobile Application Market, By Marketplace
• Apple iOS Store
• Google Play Store
• Microsoft Store
• Other
Global Mobile Application Market, By App Category
• Gaming
• Music & Entertainment
• Health & Fitness
• Travel & Hospitality
• Retail & e-Commerce
• Education & Learning
• Others (Navigation, Utilities, and News)
Global Mobile Application Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Global Mobile Application Market, Key Players
Global Players
• Google Inc
• Apple Inc
• Microsoft Corporation
• Samsung Electronics Ltd
• Huawei Technologies
• Lenovo Group Limited
• LG Electronics Inc
• OpenXcell
• Cubix
• RipenApps
• XX
• XX
North America
• WillowTree
• Techahead
• Zco Corporation
• XX
• XX
Europe
• Halcyon Mobile
• hedgehog lab
• XX
• XX
Asia Pacific
• Octal IT Solution
• JUSTPRO
• XX
• XX
South America
• Ingenia Agency
• XX
• XX
Middle East & Africa
• LightStack
• DotModus
• XX
• XX
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