Intelligent Apps Market Highlights 2020-2029
The Intelligent Apps market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. An increasing number of smartphone users across the globe, the rising adoption of AI technology, and the increasing trend of mobile app-based advertising across verticals to fuel this market's progress.
Rapid urbanization, changes in business environments, rise in investment, and business intelligence solutions for managing IT environments positively affects the intelligent apps market. The rising developments & integration of technologies such as artificial intelligence and machine learning are expected to increase the market revenue.
According to the 2020 report published by GSMA, there are over 3.5 billion smartphone users worldwide by the end of January 2020.
During the COVID-19 period, where all the industries saw a dip in their market trend, the intelligent app market saw a significant increase in the trend. For instance, introduction of the Arogya Setu app by the Indian government to track and spread awareness about the COVID-19 throughout the country. Till present, the app has generated over 9.8 crores downloads within the country.
On the basis of type, market is segmented into consumer apps and enterprise apps, out of which, the enterprise apps segment is anticipated to grab the largest share in the market as the incorporation of artificial intelligence and machine learning abundantly assists in the business transformation.
On the basis of deployment model, the market is segmented into on-premise and cloud. The cloud deployment segment in the global intelligent apps market is projected to grow with a significant CAGR over the forecast period. Cloud-based intelligent apps solutions are becoming the popular choice among users, as the cost related to infrastructure maintenance is reduced.
On the basis of vertical, market is segmented into retail and e-commerce, BFSI, manufacturing, education, healthcare, telecom and others. Among all, manufacturing sector is supposed to generate highest revenue followed and retail and e-commerce. In the manufacturing sector, the intelligent app’s importance is rapidly increasing which are based on a SaaS analytical cloud application that stores, acquires, and makes the decision for operational data from shop floor systems including, machines, test stations, sensors, equipment and simulation machines combined with data from HC
Ms and ERP. AI and ML are the key technologies that maximize productivity by mitigating quick decisions in case of downtime.
Intelligent Apps Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in North America holds the highest share. Although, the market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rising adoption of advanced technologies in the region. According to the India Brand Equity Foundation, the country’s e-commerce sector is predicted to reach USD 99 billion by 2024. However, in 2019, online retail penetration stood at 4.7% and is expected to reach 10.7% through 2024.
The global intelligent apps market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global intelligent apps market includes the following segments:
By Type
- Consumer Apps
- Enterprise Apps
By Deployment
- Cloud
- On-Premises
By Application
- Retail and E-commerce
- BFSI
- Manufacturing
- Education
- Healthcare,
- Telecom
- Others
Growth Drivers
- Increasing Use of Smartphones for Enhanced Business Mobility
- Rising trend of real-time mobile advertising across enterprises
Challenges
- Data Security & Privacy Concerns
- Lack of Technical Expertise
Top Featured Companies Dominating the Market
- IBM
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Google LLC
- Apple Inc.
- Amazon Web Services
- Microsoft Corporation
- CloudMinds Technology Inc.
- Oracle Corporation
- Facebook, Inc.
- Narrative Science
