Mobile Apps

Mobile Apps Market to Record 20.45% of Y-O-Y Growth Rate in 2021

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Mobile Apps Market Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – Including Alphabet Inc., Amazon.com Inc., Apple Inc., Electronic Arts Inc., Facebook Inc., Microsoft Corp., Netflix Inc., Spotify Technology SA, Ubisoft Entertainment, and Xiaomi Corp.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape;
  • Segments: Platform (android, iOS, and others), revenue model (advertisement, in-app purchase, subscription, and pay per download), application (games, social networking, music, video, and others)
  • Geographies: APAC (ChinaJapanIndia), North America (US), Europe (Germany), South America, and MEA

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According to the recent market study by Technavio, the Mobile Apps Market in Communication Services Industry is expected to increase by USD 653.91 billion from 2020 to 2025, with an accelerated CAGR of 20.65%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth rate of 46%. ChinaJapan, and India are the key markets for mobile apps in the region. Moreover, market growth in APAC will be faster than the growth of the market in other regions.

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Vendor Insights-

The mobile apps market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Vendors are focusing on applications for mobile. In March 2019, Alphabet’s Chronicle, the cybersecurity division, launched its first commercial product, Backstory, a security data platform.

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Regional Market Outlook

The share of APAC during the forecast period will be significant. ChinaJapan, and India are the key markets for mobile apps in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The increasing penetration of smartphones, the rising Internet penetration, and unique mobile subscriber base will drive the mobile apps market growth in APAC during the forecast period.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

  • Mobile Apps Market Driver:
    • Growing Penetration of Smartphones:

The growing penetration of smartphones is one of the major drivers impacting the growth of the mobile apps market. Smartphone manufacturers are focusing on launching new mobile phones with advanced features, such as better processing speeds, battery life, storage, display quality, and software capabilities. Such features allow users to perform multitasking, wherein they can operate multiple mobile apps at the same time. In addition, smartphones are being upgraded in terms of additional functionalities for display, camera, memory, processors, and other technical specifications. The increasing launch of such advanced smartphones is expected to boost the demand for mobile apps during the forecast period.

  • Mobile Apps Market Trend:
    • Development of hybrid mobile apps:

The development of hybrid mobile apps is one of the key trends impacting the growth of the mobile apps market. Hybrid mobile apps are built with a combination of web technologies such as HTML and JavaScript. The use of mobile WebView for making mobile compatible web apps enables application access to hardware components of devices, including accelerometers and cameras. In addition, the apps enable easy scalability and inter-platform development of mobile apps.

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