The Global Mobile Application Development Market is growing with the rapid pace mainly due to the increasing market of smartphones or tablets. The dependency over the smartphones has been increased tremendously which in result has led to the growth of mobile application development market. According to a recent study report published by the Market Research Future, the global market of Mobile Application Development is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: “High usage of mobile apps is the key trend for this market. With growing investment by IT industry in developing application for mobile to serve various application industries such as gaming, entertainment and high usage of social media networking , especially the American and APAC countries are taking many initiatives to implement the Mobile Application Development effectively in their region “
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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), and Wipro Corporation (India) among others
Globally the Industry for Mobile App Development market is expected to grow at the rate of more than ~14% from 2016 to 2022.
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.
According to the report, In APAC region growing technological advancement and high adoption of smartphones and tablets is raising Mobile Application Development market in the region. Further, the report states lack of technical expertise is a challenge to the market growth.
North-America is dominating the Global Mobile Application Development Market with the largest market share and is expected to grow over its previous growth records by 2022. This is due to the increasing adoption of new solutions, changing lifestyle and increasing consumer preference for smartphones. Mobile Application Development Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2022 due to rapid technological advancements and China being the manufacturing hub. The European market for Mobile Application Development Market is expected to grow at a considerable CAGR (2016-2022). This is due to rise in IT technology and growing population which is increasing the demand for smartphones and tablets in the region.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Mobile application providers
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
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