According to a recent study report published by the Market Research Future, The global market of Mobile App Development is booming and expected to gain prominence over the forecast period. The Market is anticipated to accrue massively by 2022, at a whooping double digit CAGR of 14 % between 2016 and 2022.
The global Mobile App Development market is predominantly driven by the high market penetration of smartphones. Additionally, growing IoT market, and high usage of mobile apps especially for applications such as games, media, e-commerce and social networking are contributing to the market growth. Further, factors such as availability of growing number of mobile application developers and trend to develop unique apps for the similar purpose coupled with introduction of new user friendly interface applications etc. are propelling the market growth up to a phenomenal extent.
However, lack of technical expertise and high cost associated with app development are the major restraints of market growth.
Mobile App development is a lengthy and complex process that requires enormous amount of time, efforts, proper management, team synchronization, good coders and so on. One wrong step would result in heavy loss of Quality and speed and in the process, timelines suffer. Following the deadlines strictly is crucial for the app development companies, especially for a start-up. By utilizing the right ways for developing mobile applications; these companies manage to stay at the forefront of the fierce competition of the market.
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The global Mobile App Development market appears to be competitive and fragmented. Giant players like Google, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), and Apple, Inc. (U.S.) adorn the market, other prominent players of the market profiled in MRFR Analysis include Facebook, Inc. (U.S.), Amazon, Inc. (U.S.), Kony, Inc. (U.S.), Verivo software, Inc. (U.S.), Infosys, Ltd. (India), and Wipro Corporation (India) among others.
Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. To withstand the market competition and to get marketing advantage; these key players adopt the advertising strategy – advertising for which mobile apps are highly effective and hence preferred. Largely used for targeting customers and competitive edge; Mobile applications Nowadays are considered useless if ineffective in attracting required crowd.
The sprouting apps and growing ventures go hand in hand. Slowing down the development process may further responsible for delayed or a late implementation of the idea. Or sometimes, even the purpose diminishes with the time. As it is the market is flooding with the many applications keeps adding every day. Digitalizing the product using mobile application plays a vital role in gaining the market success. These Vendors consider it crucial for their app to be effective enough to secure users.
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Oct 23, 2017 – USER launched a new website, FRONTLINE to provide innovative mobile app development in Singapore. A mobile application offers convenience to businesses to manage their tasks effortlessly. Besides this, it also helps a business gain access to a wide-ranging customer base. Thus, many business organizations today are using the phones in order to access cyberspace and reach out to their client base.
- Mobile application providers
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
Regional Analysis of Mobile App Development Market:
North America is dominating the Global Mobile App Development Market with the largest market share in the region due to high market penetration of IOS devices and presence of major IT industries and therefore is expected to grow with highest revenue by 2022. Mobile App Development Market in Asia-Pacific market is expected to grow at with a highest CAGR as high adoption of smartphone market has projected strong growth in countries such as India, China, and Indonesia among others in the region.
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Table of Content
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.5 Macroeconomic Indicators
5. Market Factor Analysis
5.1 Value Chain Analysis/Supply Chain Analysis
5.2 Porters Five Forces
5.2.1. Bargaining Power Of Suppliers
5.2.2. Bargaining Power Of Customer
5.2.3. Intensity Of Competitor’s
5.2.4. Threat Of New Entrants
5.2.5 Threat Of Substitutes
6. Global Mobile Application Development Market: By Platform
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