The global mobile app development market is likely to expand at 14 % CAGR during the forecast period (2016-2022) owing to the market penetration of smartphones, asserts Market Research Future (MRFR). Mobile applications are software which runs on tablets, smartphones, and other devices like home automation devices and internet TV. Android and IOS are the two major platforms for which the mobile apps are developed by the developers. The mobile applications are gaining importance over the years due to their user-friendly nature and ease of use.
The Global Mobile Application Development Market is driven by the adoption of new technologies, changing lifestyle and growing adoption by corporates to simplify their daily tasks. Furthermore, the increasing adoption of machine learning and the addition of machine learning into the mobile applications is also responsible for the growth of mobile application development market. The Mobile Application Development market is highly competitive due to the increase in web based applications and Government funding towards secured centrally connected systems.
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Major Key Players
- Facebook, Inc. (U.S.),
- Google, Inc. (U.S.),
- Microsoft Corporation (U.S.),
- IBM corporation (U.S.),
- Apple, Inc. (U.S.),
- Amazon, Inc. (U.S.),
- Kony, Inc. (U.S.),
- Verivo software, Inc. (U.S.),
- Infosys, Ltd. (India),
- Wipro Corporation (India)
Globally the Industry for Mobile App Development market is expected to grow at the rate of more than ~14% from 2016 to 2022.
Salesforce is all set to redesign its iOS app as part of its strategic partnership which will offer new tools for Salesforce developers, including its first mobile SDK, and developer training to build native apps. The company has planned to redesign its app in early 2019 to take advantage of new features for iOS 12.
Drivers and Constraints Impacting the Market
With the high market penetration of smartphones, extensive use of mobile applications for e-commerce, games, social networking, and media, along with growing IoT market, the global market for mobile app development is set to propel over the assessment period. Adoption of advanced technologies, increasing acceptance of mobile applications by the corporates to simplify daily tasks, and changing lifestyle have triggered the demand for mobile applications over the years. Several companies are investing into research and development activities so as to come up with innovations and solutions for the consumers which are further prompting the advancements in mobile applications. Moreover, with the advent of cloud-based technology, there has been a noticeable growth in the mobile app development market globally.
On the flip side, increasing cost of mobile application development platforms and technical issues related to application development are some of the major factors expected to inhibit the market growth in the coming years. Moreover, lack of technical expertise and rising security concerns are presumed to hamper the market growth.
The Mobile Application Development Market can be segmented in to 3 key dynamics:
Segmentation by Platform: Comprises IOS, and Android
Segmentation by Application: Comprises Entertainment (Gaming and media), banking, retail, airlines, e-commerce, education, government agencies and social networking among others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia-Pacific and Rest of the World.
Geographically, the mobile app development market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is presumed to dominate the global market with the largest market share and is expected to maintain its dominance over the forecast period. The growth is mainly attributed to the changing lifestyle, adoption of new solutions, and growing consumer preference for smartphones in this region.
The Asia Pacific region is estimated to register a substantial growth rate during the assessment period owing to the rapid technological advancements. Moreover, with the presence of China being the manufacturing hub, the market is likely to propel.
On the other hand, the European market is presumed to expand at a considerable CAGR owing to the rise in IT technology coupled with the rising population which has increased the demand for tablets and smartphones in this region.
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- Mobile application providers
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
List of Figures
Figure 1 Research Process
Figure 2 Drivers Of Global Mobile Application Development Market
Figure 3 Global Mobile Application Development Market: By Platform (%)
Figure 4 Global Mobile Application Development Market: By Application (%)
Figure 5 Global Mobile Application Development Market Share By Region (2016 & 2022) (%)
Figure 6 North America Mobile Application Development Market, By Platform (%)
List of Tables
Table 1 Global Mobile Application Development Market (Usd Billion)
Table 2 Global Mobile Application Development Market, By Platform
Table 3 Global Ios Markets, By Region
Table 4 Global Android Markets, By Region
Table 5 Global Mobile Application Development Market, By Application
Table 6 Global Entertainment Market, By Region
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