According to a recently published report by Research Nester on “Mobile App Development Market– Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global mobile app development market in terms of market segmentation by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The internet revolution has provided numerous opportunities for digital market penetration with the development of apps that can run on a multiple platform as compared to the conventional ones which were developed for a specific device. The global mobile app development market is expected to record a CAGR of 14.3% during the forecast period i.e. 2019-2027 owing to the provision of number of different daily use applications. The market is segmented into marketplace type and application type. The marketplace segment is further categorized into Google play store, Apple app store and others, out of which, the Apple app store segment is expected to have significant growth on the back of provision of a number of features which attract the end users. For instance, high security, new advancements in existing categories as in case of books, latest additions in the music categories, interactive gaming and application for instance Siri and possibility of multi-tasking. However, Google play store is anticipated to witness leading market share during the forecast period on the account of increased android users and provision of new tools and features. For instance, Google Play Instant, ability to download multiple apps, internal app sharing and improvement in ‘play protect settings. On the basis of application, the market is segmented into entertainment, gaming, banking, airlines, e-commerce, education, government agencies and social networking, out of which, the gaming segment is anticipated to have highest contribution in the mobile app development market on the back of development of improved gaming experience with companies coming up with new advancements and developments.
Geographically, the global mobile app development market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to have largest share in mobile app development market owing to presence of prominent IT industry and high users of IOS devices. Asia-pacific is anticipated to grow at a highest CAGR on the back of improvement in IT sector growth and rise in adoption of smartphones. Middle East and Africa is anticipated to have a slow market growth owing to unavailability of resources required for mobile app development.
Improvement in user experience to Boost the Mobile App Development Market in Future
The user experience will drive the mobile app development market with the companies developing apps that provide high user experience with improved security and privacy. Google and Apple have emphasized on these issues and are abandoning the apps that don’t meet these criteria.
New Development and Innovations
Virtual reality and IOT are anticipated to drive the market growth with the development of platforms that could provide better user engagement, sensor technology, remote controlling and monitoring.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Mobile App Development Market
High cost involved in app development coupled with technical difficulties faced and lack of technical expertise are the major restraining factors in the growth of mobile app development market.
This report also provides the existing competitive scenario of some of the key players of the global mobile app development market which includes company profiling of Facebook Inc., Google Inc., Microsoft Corporation, IBM Corporation, Apple Inc., Amazon Inc., Kony Inc., Verivo Software Inc., Infosys Ltd. and Wipro Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global mobile app development market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.