by The Mobile Application market was valued at USD 127.10 billion in 2020 and is projected to reach US$ 408.13 billion by 2027, growing at a CAGR of 18.6% from 2021 to 2027.
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Increasing focus on maintaining a healthier lifestyle and demand for gaining real-time access to health data to assist users with health management, workout, nutrition and diet, and other forms of physical activities are the major factors driving the market growth. In addition, factors including lowering internet cost, smartphone proliferation, rise in discretionary income, and the resulting increase in in-app purchases, especially with respect to gaming apps, are collectively driving the growth.
Report Scope of the Mobile Application Market
| Report Highlights | Details |
| Market Size in 2020 | USD 127.10 Billion |
| Growth Rate | CAGR of 18.6% from 2021 to 2027 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Segments Covered | Marketplace, App Category, Regional Outlook |
| Companies Mentioned | Apple Inc., Cognizant, CA Technologies, Hewlett Packard Enterprise, China Mobile Ltd, Google LLC, Intellectsoft, Microsoft Corporation, Verbat Technologies |
Moreover, on-demand live video consultation apps have witnessed increased downloads during the COVID-19 pandemic across the globe. Although remote consultation services showed growth over the past years, there has been a sudden increase in the on-demand live video consultations amidst the prevailing lockdowns. In addition, the negative impact of the COVID-19 pandemic on individuals’ mental health and anxiety levels due to restrictions imposed on the human movement and the fear of getting infected on-premise visit has paved the way for growth in online consultation services. The benefits offered by mobile applications in form of easy user-interface and remote health monitoring have increased healthcare application downloads for health consultations.
In addition to the gaming and healthcare apps, music and entertainment apps also hold lucrative opportunities to generate business revenues. Escalating demand for live streaming apps is expected to be one of the key factors boosting the music & entertainment apps market growth. Live streaming apps such as Netflix, YouTube, and Instagram enable users to broadcast live videos to a broader audience. Also, these apps have become popular among content creators and social media influencers, engaging audiences on a daily basis, and improving the ranking of their channels and accounts. Furthermore, lockdowns imposed worldwide in the wake of the COVID-19 outbreak have positively impacted the growth of OTT applications as people continue to engage in leisure activities. As a result, the average amount of time spent on OTT applications has increased drastically during the pandemic. Therefore, entertainment applications have witnessed a sudden boost in demand. However, the re-opening of economies by governments post the pandemic containment is expected to bring the year-on-year growth in the entertainment app segment to normal levels.
Mobile Application Market Report Highlights
- The market is anticipated to witness substantial growth during the forecast period due to smartphone proliferation, internet penetration, and the growing usage of machine learning and artificial intelligence technologies in mobile applications (apps)
- The Apple store segment accounted for the largest revenue share in 2019, owing to a higher monetization rate of iOS apps for revenue gained from premium apps and in-app purchases
- The music and entertainment application segment is projected to exhibit significant growth during the forecast period from 2020 to 2027, owing to an increase in demand for live streaming apps such as Netflix, YouTube, and Instagram
- North America dominated the market and accounted for over 30.1% revenue share in 2019, owing to rising in-app consumer spending, high smartphone penetration, and the presence of numerous players in the region, such as Apple Inc.; Google LLC; Hewlett Packard Enterprise; Netflix Inc.; and Microsoft Corporation
Regional Snapshots
The Asia Pacific exhibits the fastest growth rate during the forecast period and expected to hold the dominant position in the coming years. Prime factors attributed to this are explosive growth in smartphone sales in the past few years, with several new competitors capturing the market for example OnePlus, Xiaomi, Nokia, & Vivo and challenging the established players such as iPhone and Samsung. In addition, rising internet penetration in the under-developed and developing Asian countries also contribute significantly in the market growth during the coming years.
However, North America led the global mobile application market with approximately 40% of the revenue share in 2019. This is majorly due to the presence of some of the major market players in the region such as Apple Inc., Cognizant, CA Technologies, Hewlett Packard Enterprise, Google LLC, Microsoft Corporation, IBM Corp., and many more. Furthermore, increased competition in the market has triggered the application development speed along with enhanced user experience.
Some of the prominent players in the mobile application market include:
- Apple Inc.
- Cognizant
- CA Technologies
- Hewlett Packard Enterprise
- China Mobile Ltd
- Google LLC
- Intellectsoft
- Microsoft Corporation
- International Business Machines Corporation
- Verbat Technologies
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Segments Covered in the Report
This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of marketplace, app category, and region:
By Marketplace
- Google Play Store
- Apple iOS Store
- Other Marketplaces (Microsoft)
By App Category
- Music & Entertainment
- Gaming
- Health & Fitness
- Education & Learning
- Retail & e-Commerce
- Travel & Hospitality
- Others (Navigation, Utilities, and News)
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Why should you invest in this report?
If you are aiming to enter the global Mobile Application market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Mobile Application market are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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