Mobile Application Market

Mobile Application Market Statistics - 2026

The global mobile application market size was valued at $106.27 billion in 2018, and projected to reach $407.31 billion by 2026, growing at a CAGR of 18.4% from 2019 to 2026. Mobile applications are the different types of software applications that are designed to run on various smartphones, tablets, and computer tablets. Mobile applications frequently serve to provide users with similar services to those accessed on PCs. The primary goal of mobile application is to help users to connect them to internet services by enabling them to use the internet on their portable devices.

The mobile application market trends include increase in the adoption of variable devices and rise in customer base for the e-commerce industry, which are the major factors driving the growth of the market. In addition, continuous growth in enterprise apps, increased focus on apps specifically used for health & fitness as well as high downloads and in app purchases for gaming apps fuel the growth of the market.

Lack of high-speed connectivity in developing & undeveloped regions and uncertainty of enterprises in developing their own applications are expected to impede the mobile application market growth. Furthermore, growth in investment in digitization and increase in adoption of internet of things technology and mobile connected smart objects are expected to provide major opportunities for the growth of the market during the forecast period.

The gaming segment dominated the mobile application market in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in number of mobile gaming application in developing nations such as China and India, which drive the growth of the market. Furthermore, the entertainment and music segment is expected to grow at a significant CAGR during the forecast period, owing to rapid increase in usage of different entertainment applications.

The report focuses on the growth prospects, restraints, and trends of the mobile application market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the mobile application market.

Segments Analysis

The global mobile application market is segmented based on marketplace, app category, and region. Based on marketplace, it is classified into apple iOS store, google play store, and other marketplaces (Microsoft, Huawei, and others). Based on app category, the market is categorized into gaming, entertainment & music, health & fitness, travel & hospitality, retail & e-commerce, education & learning and others (navigation, utilities, and news). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The mobile apps market report analyzes the profiles of key players operating in the market Apple Inc., CA Technologies, Cognizant, China Mobile Ltd, Hewlett Packard Enterprise, Intellectsoft, Google LLC, International Business Machines Corporation, Microsoft Corporation, and Verbat Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Top Impacting Factors:

Increase in data usage & internet penetration

Increase in data usage and internet penetration has been one of the major factors driving the growth of the market in developing countries such as China, India, and Brazil. Furthermore, over the past decade, internet has emerged as a prime medium of communication through various devices such as laptops, smartphones, and tablets. Internet helps the users to access different applications with minimum costs & efforts and provides a faster way of communication. In addition, the number of online buyers has significantly increased owing to growth in the e-commerce industry, product assortment, attractive offers, and various discounts that are available only on e-platforms. Moreover, increase in various offers provided by different network providers for low cost data plans reduces the costs of internet and helps developing countries to easily adopt these cost-effective services. For instance, according to a study conducted in India, the number of internet user in rural areas has reached 627 million in 2018, thus driving the growth of the market.

Uncertainty of enterprises in developing their own applications

Different organizations are investing huge amounts in developing their own applications due to surging uncertainty of the available applications and increasing cost of different applications. In addition, various applications need to be updated on a regular basis to ensure seamless app operations and transactions, owing to which there has been an increase in the amount of time and money required for upgradation of these applications. Thus, hampering the growth of the market. Furthermore, various organizations are investing in collaborations or alliances for offering a collective platform to the users, which reduces their development and maintenance costs.

Growth in usage of machine learning and artificial intelligence in mobile apps

Artificial intelligence is an integral part of different smart phones and its development. Smart phone manufacturers such as Apple, Samsung, Huawei, and others, are leveraging machine learning and artificial intelligence into the development of their smartphone models, thus, providing lucrative opportunities for the growth of the market. Furthermore, according to a study, 200 mobile application companies are expected to include AI artificial intelligence and machine learning in smartphones to improve various features such as camera and security applications. Moreover, companies are implementing artificial intelligence in smartphones and tablets for empowering mobile applications and increasing the performance of various mobile devices. In addition, AI allows mobile applications to get insights from various data generated by all users and helps in improving decision making capabilities of the user, thus offering lucrative opportunities for the mobile application market.

Key Benefits for Mobile Application Market:

• The study provides an in-depth analysis of the global mobile application market forecast along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the global mobile application market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the mobile application industry for the period 2019–2026 is provided to determine the market potential.

 Mobile Application Market Report Highlights