Mobile Applications Market By Store Type (Apple App Store, Google Play Store, Others), By Applications (Games, Social Media, Music, Entertainment, Navigation, e-Commerce, News, others), By Device (Smartphones, Tablets, Smart TV’s, Others) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Rising Internet Penetration to Boost the Mobile Applications Market

The mobile applications market worldwide is expected to grow at a CAGR of 15.60% during the forecast period from 2019 to 2027, starting from US$ 109.67 Bn in 2018. Mobile applications are an integral component of smartphones and other smart devices such as tablets, smart TVs, etc. Further, there are more than 5.0 billion mobile users in the world, with global internet penetration at 57%.

The introduction of 4G and other content delivery technologies, such as live streaming media, downloadable objects, etc., is expected to continue boosting the market. However, high-security concerns over customers' data hinder the mobile application market. Furthermore, with the growing penetration of social media, games, and other entertainment applications, the mobile applications market is expected to register continued growth over the forecast period.

Market Synopsis

Google Play Store to Continue as the Market Leader

Google's Play Store segment holds the highest market share in the mobile applications industry, followed by Apple's App Store. In 2018, Google Play Store had more than 39% of the market's revenue, followed by the Apple App Store with more than 37%. As there are more Android smartphones than those with any other operating system, the Google Play Store remains the preferred destination for app downloads.

Further, the Google Play Store provides access to a wide range of tools and libraries that can be used to develop applications. Due to various benefits such as lower app costs, high app compatibility, and a greater number of apps than in the Apple App Store, the Google Play Store segment is growing at a faster rate.

Asia Pacific to Emerge as the Market Leader in the Forecast Period

In 2018, North America led the market, followed by Asia Pacific. Due to the rise in internet penetration in Asia Pacific, we are expecting a boom in the mobile applications market in the region as emerging economies such as China and India are the largest producers and consumers of cost-effective smartphones. Additionally, growing disposable income and rising internet penetration, coupled with government initiatives such as "Digital India," are giving a boom to the market in the country. On account of these factors, we are expecting tremendous growth in the region.

Major market players emphasize introducing new products and mergers and acquisitions. For example, in 2015, Axway acquired Appcelerator to increase its product portfolio. Some of the prominent players operating in the mobile applications market include IBM Corporation, Apple, Inc., BlackBerry Ltd., LeewayHertz Technologies Private Limited, Burgan National Information Systems Co., Alphabet Inc. (Google), Microsoft Corporation, Fueled, Adept Business Solutions, Verbat Technologies, BlackBerry Ltd., Willow Tree, Inc., Intellectsoft, Appster, Gameloft SE, Konstant Infosolutions, Adobe Systems, Inc., Appcelerator, Kony Inc., OutSystems Inc., Verivo Software Inc., Ubisoft SA, EA Sports, and others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The mobile applications market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global mobile applications market based on the store type, applications, devices, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of mobile applications in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for mobile applications?
• What are the major trends followed in overall mobile applications across different regions?
• What are the key market trends and high-growth opportunities observed in the mobile application market?
• What are the drivers of the mobile application market?
• Who are the key mobile application companies leading the market?
• What are the key strategies adopted by the leading mobile application companies in the market?

Unique data points of this report

• Statistics on smartphone sales worldwide
• Recent trends across different regions in terms of the adoption of mobile applications
• Notable developments are going on in the mobile applications industry.
• attractive investment proposition for the mobile applications segment as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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