The global Mobile Application Market is expected to rise at a CAGR of 8.6% to USD 170.2 Billion in 2033 from USD 74.3 Billion in 2023, supported by:
| Attributes | Details |
|---|---|
| Mobile Application Market CAGR (2023 to 2033) | 8.6% |
| Market Size for Mobile Application (2023) | USD 74.3 Billion |
| Market Size for Mobile Application (2033) | USD 170.2 Billion |
| Global Mobile Application Market Absolute Dollar Growth (USD Million/Billion) | USD 95.8 Billion |
With the rising popularity of mobile gaming, a poll found that 5 to 10% of gamers are prepared to pay for game apps, a double-digit rise. Furthermore, it is a recognized truth that when consumers acknowledge the worth of an application and want to access further features, they prefer to make more in-app payments. Games such as Pokémon GO, Candy Crush Saga, and Clash of Clans generate more money through in-app purchases than any other revenue source.
In the aftermath of the epidemic, social networking, gaming, and entertainment-based applications received the most download when compared to other applications. Furthermore, demand for e-commerce, healthcare, and educational apps has increased significantly.
The change to remote learning in educational apps has given attractive development possibilities for various online portals and software businesses, including Google Classroom, Zoom, and Microsoft Teams.
As per this report, demand for mobile applications is expected to surge at over 9.6% CAGR until 2032.
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One of the key factors propelling the mobile application market’s expansion in developing nations is the rise in data usage and internet penetration. Through a variety of gadgets, including laptops, cell phones, and tablets, the internet has become a leading medium of communication over the past ten years.
The Internet offers a quicker means of communication and makes it possible for users to access many applications for less expense and effort. The number of online shoppers has also greatly expanded as a result of the e-commerce sector's expansion, a wider range of products, alluring promotions, and numerous discounts that are exclusively offered on e-platforms.
Additionally, the proliferation of low-cost data plan offers from multiple network providers lowers the price of internet access and makes it simpler for developing nations to adopt these services.
Due to the increasing unpredictability of the available apps and the rising expense of various applications, some firms are investing a significant amount of money in developing their own applications which may hamper the mobile application market future trends.
The amount of time and money needed for these updates has increased as a result of the necessity to update a variety of apps often in order to ensure smooth app operations and transactions.
Consequently impeding mobile app market expansion. In addition, a number of businesses are investing in alliances and collaborations to provide users with a single platform at a lower development and maintenance cost.
Principal Consultant
The creation of mobile applications has the potential to bring in millions of dollars. The fact that not every app receives an equal piece of the Android and iOS network raises problems about how mobile applications make money from entrepreneurs and investors who have not yet entered the market.
With over a million apps accessible, the highly competitive nature of the mobile application market presents an additional difficulty for businesses. As a result, businesses are paying attention to the right factors when developing an app.
Before attempting to build mobile applications that generate revenue, a few straightforward guidelines, such as completing competitor analysis, are vital. The needed revenue can be produced by focusing on appropriate monetization strategies like freemium or subscription-based models.
Apple App Store outperforms Google Play.
| Attributes | Details |
|---|---|
| Top Store Type | Apple App Store |
| CAGR % 2017 to 2022 | 9.5% |
| CAGR % 2023 to End of Forecast(2033) | 8.0% |
By 2033, the Apple Store category had the biggest mobile app market share. The significant share of the money earned by in-app purchases and premium apps is principally responsible for iOS apps' considerably higher rate of monetization.
Furthermore, an increase in iPhone and iPad users around the world are contributing to the segment's growth. Furthermore, mobile game expenditures may make for a significant portion of earnings.
Furthermore, in terms of downloads, the Google Play store category accounted for the largest mobile app market share and is expected to maintain its dominance during the projection period.
Furthermore, sales of Android smartphones have expanded dramatically in recent years, with various new competitors such as OnePlus and Xiaomi Corp. competing against established and dominant giants like as Samsung and iPhone.
A broad variety of mobile applications have been released on Google's Play Store as a result of the development of new Android smartphone manufacturers. The Google Play store has a promising future for growth due to the launch of a wide variety of mobile applications and a sizable consumer base.
In the mobile application market, the games end-use category is predicted to be the dominating income source.
| Attributes | Details |
|---|---|
| Top End Use | Games |
| CAGR % 2017 to 2022 | 9.5% |
| CAGR % 2023 to End of Forecast(2033) | 7.8% |
During the projection period, the mobile application market's games end-use sector may increase at a CAGR of 7.8%. Furthermore, the segment is predicted to maintain its dominance during the projection period as the gaming population and, as a result, the number of mobile gaming applications in economies such as China and India grows at an unprecedented rate.
Furthermore, the three major Operating System (OS) platforms utilized to produce mobile games are iOS, Android, and Windows. The number of games downloaded on Android OS was large, but iOS made more income because premium games are more widespread.
Through 2033, the music and entertainment application segment in the mobile app industry is anticipated to grow significantly.
Applications for music and entertainment are covered in this part, including Netflix, HBO NOW, Tinder, Spotify, YouTube, Amazon Prime, and Hulu. Netflix and YouTube were the two services in the music and entertainment application market that brought in the most money in the United States.
Due to the popularity of streaming services, significant surges in the usage of music and entertainment apps have been witnessed. Users can share live videos with a bigger audience and engage with them frequently using live streaming apps such as Netflix, YouTube, and Instagram.
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| Country | The USA |
|---|---|
| HCAGR (2017 to 2022) | 6.1% |
| CAGR (2023 to 2033) | 5% |
| Country | United Kingdom |
|---|---|
| HCAGR (2017 to 2022) | 6.5% |
| CAGR (2023 to 2033) | 5.4% |
| Country | Japan |
|---|---|
| HCAGR (2017 to 2022) | 7.8% |
| CAGR (2023 to 2033) | 5.1% |
| Country | China |
|---|---|
| HCAGR (2017 to 2022) | 8.6% |
| CAGR (2023 to 2033) | 5.7% |
| Country | India |
|---|---|
| HCAGR (2017 to 2022) | 27.5% |
| CAGR (2023 to 2033) | 19.7% |
Presence of established mobile computing platform developers to fuel growth in the United States.
| Attributes | Details |
|---|---|
| United States Market Size (USD Million/Billion) by End of Forecast Period(2033) | USD 18.6 Billion |
| United States Market Absolute Dollar Growth (USD Million/Billion) | USD 7.1 Billion |
The United States is widely regarded as the most attractive mobile application market in North America for mobile applications.
This strong position is likely to be maintained by the country during the predicted period. With the presence of several well-established software development organizations, the country's need for mobile applications is expected to surge during the next 10 years.
These startups plan to develop unique apps that include artificial intelligence to improve performance and streamline work completion. According to Future Market Insights, Inc. the United States mobile application industry is to grow at a CAGR of 5% through 2033.
Strong demand for paid mobile games escalating demand for the app development market.
| Attributes | Details |
|---|---|
| United Kingdom Market Size (USD Million/Billion) by End of Forecast Period(2033) | USD 5.6 Billion |
| United Kingdom Market Absolute Dollar Growth (USD Million/Billion) | USD 2.3 Billion |
It is anticipated that easy access to innovative mobile application services and rising smartphone penetration in the United Kingdom may drive sales of mobile applications.
From 2023 to 2033, the United Kingdom mobile app market is anticipated to grow steadily at a CAGR of 5.4%. The HCAGR of the mobile application market is 6.5% from 2017 to 2022.
The high number of smartphone app downloads and robust in-app consumer spending are expected to support growth in the United Kingdom With a rapidly growing user base for mobile applications, in-app pricing, and high demand for paid mobile games, the United Kingdom is predicted to become a very profitable mobile app industry.
India and China are expected to remain big markets, with significant development potential for all participants in the mobile application ecosystem.
| Attributes | Details |
|---|---|
| China Market Size (USD Million/Billion) by End of Forecast Period(2033) | USD 21.3 Billion |
| China Market Absolute Dollar Growth (USD Million/Billion) | USD 9.0 Billion |
Rising smartphone penetration, as well as a fast rate of adoption of new technologies such as IoT, artificial intelligence, and augmented & virtual reality (AR & VR), have greatly accelerated the China market. The region is the most profitable and is expected to develop at the fastest rate during the projected period.
During the analysis period, China is predicted to dominate the global mobile application market in terms of revenue share. Among Asian countries, China emerged as the most popular location for mobile app downloads.
| Attributes | Details |
|---|---|
| India Market Size (USD Million/Billion) by End of Forecast Period(2033) | USD 59.3 Billion |
| India Market Absolute Dollar Growth (USD Million/Billion) | USD 49.5 Billion |
Given the region's potential for internet penetration and smartphone usage, India is predicted to be the fastest-growing regional mobile app industry. India had the largest percentage of daily use, at almost 27%. Rising disposable income, combined with government measures, is expected to support regional market growth in the coming years.
Additionally, two important growth drivers in the area are networking advancements and the availability of inexpensive mobile information ingesting packs. Additionally, the growth of the mobile application market in India is being driven by smartphone adoption and internet usage.
Japan may remain the slimmest market, but one with a robust mobile gaming presence.
| Attributes | Details |
|---|---|
| Japan Market Size (USD Million/Billion) by End of Forecast Period(2033) | USD 4.5 Billion |
| Japan Market Absolute Dollar Growth (USD Million/Billion) | USD 1.8 Billion |
Japan is a nation well-known for its economic strength, highly developed mobile infrastructure, and being home to a population that is almost always on the bleeding edge of technology. Even with a relatively small population especially when compared to North America or Asia Pacific Excluding Japan, a CAGR of 6.8% for the decade can be expected, leading to revenue of a little over USD 3 Billion.
By end use, the Games segment is likely to drop to a little more than a third of the total market revenue share by the year 2026 from almost half the revenue share in 2016, representing a CAGR of 6.2%.
Companies looking to enter the Japanese mobile app industry should target Google Play as opposed to the Apple App Store as it is likely to maintain its dominance in this highly influential regional market.
A large number of developers contribute to the market's extreme fragmentation. To increase their skills, several mobile application market participants are partnering and making acquisitions.
To deliver more effective solutions, major mobile application businesses are teaming up and partnering with local groups. A few other significant firms are working on diversifying their existing product portfolios through the introduction of novel mobile applications.
In addition, a few new players, like as Xiaomi and OnePlus, have recently grown significantly. Companies are mostly concerned with providing user-friendly applications with increased experiences. In order to better serve the demands of the consumer, advanced technologies like augmented and virtual reality were also incorporated into the new application.
Recent Development:
Investment
| Date | November 2018 |
|---|---|
| Company | GOQii |
| Details | In November 2018, GOQii declared that Mitsui & Co., Ltd., a Japanese conglomerate and prominent healthcare investor, has contributed to the company's investment round. Following the initiative, GOQii sought to expand its market share throughout India and to penetrate the Japanese market by distributing its products through its health store. |
Purchase
| Date | May 2020 |
|---|---|
| Company | MobileIron Inc. |
| Details | To create and roll out secure mobile business apps, MobileIron Inc. purchased incapptic Connect GmbH in May 2020. |
| Date | January 2020 |
|---|---|
| Company | AppSheet |
| Details | AppSheet, a supplier of a no-code development platform for application software, was purchased by Google LLC in January 2020. |
Introduction
| Date | December 2022 |
|---|---|
| Company | McDonald's |
| Details | McDonald's, a well-known fast food chain, debuted its new holiday promotion in December 2022. The promotion is built around a mobile app that offers everything from dramatically discounted menu items to free food for life and exclusive McDonald's goods. From December 5 to December 25, customers who place orders using the company's app may have the opportunity to enter the McGold Card contest. |
| Date | December 2022 |
|---|---|
| Company | Amazon |
| Details | Amazon unveiled the short-form video and photo feed app Inspire in December 2022. Customers would be able to browse ideas and items and make purchases using content made by other users, brands, and influencers. The primary purpose of the feature is to divert users' attention from apps like TikTok and increase sales on Amazon.com. |
The mobile application market size is valued at USD 74.3 billion in 2023.
The mobile application market is projected to thrive at 8.6% CAGR through 2033.
The mobile application market is predicted to surpass USD 170.2 billion by 2033.
The market anticipates an absolute dollar opportunity worth USD 95.8 billion.
India will rise at a high 19.7% CAGR in the mobile application market.
1. Executive Summary | Mobile Application Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Store Type 5.1. Google Play 5.2. Apple App Store 5.3. Others 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Games 6.2. Media & Entertainment 6.3. Healthcare 6.4. Education 6.5. Travel 6.6. Shopping 6.7. Others 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. Asia Pacific excluding Japan (APEJ) 7.6. Japan 7.7. Middle East and Africa (MEA) 8. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. APEJ Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Google Inc. 17.2. Microsoft 17.3. Cognizant 17.4. Hewlett Packard Enterprise Development LP 17.5. SAP SE 17.6. China Mobile Limited 17.7. Samsung Electronics Co., Ltd. 17.8. Apple Inc. 17.9. Opera Software 17.10. Verbat Technologies 18. Assumptions & Acronyms Used 19. Research Methodology
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