Analysis by Service (Streaming, Web Browsing, VoIP, Micro-Blog, and Others); by Product (Online Service, and Offline Service); and by Application (Large Enterprises, and SMEs) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The global advanced mobile UX design services market is estimated to garner a revenue of ~USD 4 Billion by the end of 2035 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2035. Furthermore, the market generated a revenue of ~USD 1 Billion in the year 2022. The growth of the market can be attributed to the globally rising smartphone penetration, along with rapid technological advancement. For instance, the proportion of smartphone users worldwide was expected to be around 6.725 in 2022, representing 84% of the world's total population. Further, rapid technological advancement, coupled with the rising focus on delivering streamlined and user-friendly experiences, are some further factors that are estimated to push the growth of the global advanced mobile UX design services market during the forecast period.
In addition to these, factors that are believed to fuel the market growth of advanced mobile UX design services include the growing use of mobile apps, along with the soaring trend of the Internet of Things (IoT). For instance, every day, approximately 3740 Android apps are added to the Play Store across the globe. In addition to this, the surge in the penetration of 4G LTE infrastructure, followed by the massive surge in mobile shopping across the globe, is another major factor that is projected to boost the market growth further throughout the projected time frame.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2035) |
~ USD 4 Billion |
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Regional Scope |
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Growth Drivers
Increasing Penetration of the Internet - For many years, the internet has provided countless opportunities for individual fulfillment, professional development, and value creation. With the COVID-19 pandemic, it has become an absolute requirement for working, learning, acquiring basic services, and maintaining communication. Therefore, the rising penetration of the internet is expanding the enhancement in the UX design of smartphones, which is further estimated to propel the growth of the market throughout the forecast period. For instance, presently, nearly 5 billion people have been using the internet worldwide, representing around 64% of the global population.
Growing Prevalence of Digital Banking - With the increasing use of digital transformation actions taken by banks, following the destruction caused by the Covid-19 pandemic, the number of users opting for digital banking has increased significantly. As a result, banks are striving to effectively incorporate their diverse offerings into a single, consistent digital experience by using better UX design in their mobile banking apps to keep up with the diversified competition. For instance, currently, around 2.7 billion people have been using digital banking services worldwide. By 2026, nearly 54% of the world's population is estimated to use digital banking services.
Worldwide Rise in Mobile Gaming – For instance, in the first quarter of 2021, about 14 billion mobile games were downloaded throughout the world.
Upsurge in Social Media Browsing - Over the last year, social media users increased by 226 million, reaching 4.72 billion by the beginning of July 2022. From July 2021 to July 2022, the global social media user base accelerated by more than 6%, with the most recent global total now surpassing 60% of the total population of the world.
Massive Increase in Mobile Video and Music Streaming - A whopping 86% of US residents have at least one paid music streaming subscription, and 61% have at least one paid video streaming subscription.
Challenges
The global advanced mobile UX design services market is segmented and analyzed for demand and supply by service into streaming, web browsing, VoIP, micro-blog, and others. Out of these segments, the streaming segment is anticipated to grow at a significant rate over the forecast period. The growth of the segment can be attributed to the dynamically increasing trend of on-demand video and on-demand music among people, and the growing number of subscribers to streaming services throughout the world. For instance, live videos were estimated to account for approximately 81% of internet usage by the end of 2022 across the globe. Moreover, in 2020, live stream watch time increased by 251%. Furthermore, by the end of 2021, Netflix had around 224 million subscribers, an expansion of 17 million from the year 2019. Additionally, the dynamic surge in online conferences and video calls is another significant factor that is anticipated to accelerate the market’s growth throughout the forecast period.
The global advanced mobile UX design services market is also segmented and analyzed for demand and supply by product into online, and offline service. Amongst these two segments, the online segment is expected to garner a significant share during the coming years. The growth of the segment can be attributed to the worldwide massive increase in video-based content and live video streaming, coupled with a significant surge in e-commerce and other services that necessitate internet connections and smartphones. For instance, retail e-commerce sales in the United States hit approximately USD 260 billion in the second quarter of 2022. This is a 3% increase over the previous quarter. Since, the COVID- 19, outbreak e-commerce has grasped major growth as people have been shopping for a lot of things, such as personal care, medicines, groceries, household items, consumer durables, and so on, via online platforms. Therefore, such a massive surge in online shopping is estimated to boost segment growth further throughout the forecast period.
Our in-depth analysis of the global advanced mobile UX design services market includes the following segments:
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By Service |
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By Product |
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By Application |
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The North America advanced mobile UX design services market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the dynamic rise of 5G technology in the region. For instance, in the United States at the end of 2019, there were around 1 million 5G service subscriptions. This figure is expected to rise to nearly 169 million by 2024. Further, the rising technological advancements, followed by the growing penetration of 4G LTE broadcasting, are another major factor that is estimated to drive the market growth further during the forecast period in the region.
Additionally, the Europe advanced mobile UX design services market is also estimated to display notable market growth by the end of 2035. The growth of the market can be attributed to the significant growth in the adoption of smartphones, coupled with the rapid increase in social media usage in the region. In addition to this, a surge in mobile gaming is another crucial factor that is projected to fuel the market growth further in the region throughout the projected time frame.
Brainvire Infotech Inc. has developed a specialized .NET core platform to better serve the target audience of a large construction sector company.
DXC Technology Company has announced a strategic initiative with Micro Focus, a leading software provider, to enhance mainframe estates by providing mainframe modernization and migration strategies.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing penetration of the internet, growing prevalence of digital banking, worldwide rise in mobile gaming, and upsurge in social media browsing are some major factors driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2035.
Ans: Risk of malware in mobile UX design, decreased loading speed of pages, and data security and cybercrime threat are estimated to hamper the market growth.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Infosys Limited, Mindtree Limited, UX studio Zrt., DXC Technology Company, Wipro Designit Services, Inc., Imaginovation, LLC, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by service, product, application, and by region.
Ans: The streaming segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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