Mobile App Development Market

Mobile App Development Market Segmentation By Market Place Type (Google Play Store, Apple App Store and Others); By Application Type (Entertainment, Gaming, Banking, Airlines, E-Commerce, Education, Government Agencies and Social Networking) – Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 1417 | Published On: Feb 06, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

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.

In The News

Introduction to Mobile App Development

Mobile app development can be termed as a process which involves the steps regarding the software writing for mobile or wireless devices. The mobile app development specifically aims at taking advantage of a device for which it is designed, though it is based upon the traditional software development techniques. There are basically two platforms dominating the mobile app development which includes Google Android and Apple iOS. The iOS is an operating system that specifically powers Apple devices, whereas the Android is designed by the Google but can be used by other OEMs as well to build the smartphones apps. However, new developments are being done to develop apps that could run on multiple platforms on the account of which it is possible for the developers to use single code for iOS and Android. Thus, the mobile application development process involves creation of software, implementation of back-end services and application testing.

Market Size and Forecast

The global mobile app development market is anticipated to record a CAGR of around 14.3% over the forecast period 2019-2027 owing to internet revolution and increased market penetration of the smartphones. The market is segmented into marketplace type and application type. The Apple App store provides several features which attract the end user.  For instance, high security, new advancements in existing categories as in case of books, latest additions in the music categories which is anticipated to have new and latest music each week, interactive gaming and application for instance Siri and possibility of multi-tasking. However, Google Play Store is anticipated to observe stupendous growth during the forecast period owing to 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’ which is anticipated to have a significant impact on the market. Additionally, better social interacting applications and location tracking services are anticipated to positively impact the Google Play Store. On the basis of the application type, the gaming segment is anticipated to have highest contribution in the total revenue in mobile app development market on the back of development of improved gaming experience with companies coming up with new advancements and development. For instance, Gameloft, EA sports, Ubisoft have come up with voice recognition, customizable features, interactive drama, open world, wearable gaming and augmented reality gaming.  However, the music and entertainment industry is anticipated to have significant shares during the forecast period on the back of innovations in existing features for instance “Game Of Sixes” launched by Gaana coupled with new entrants such as Netflix, TED, Spotify, 9GAG that have provided end users with new platforms of recreation. The entertainment sector is followed by finance, social networking education and healthcare sectors based on their contribution in the market growth of mobile app development. 

Mobile App Development Market

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Growth Drivers

New Development and Innovations

Virtual reality is anticipated to drive the market growth with the development of the platforms that provide better user engagement, thereby the app companies are highly focusing towards it. Google and Apple have come up with ARcore and ARkit respectively owing to which the enterprises have two AR based platform for mobile app development. Additionally, IoT is anticipated to have major contribution in the market growth with sensor technology, remote controlling and monitoring. Additionally, cloud computing coupled with blockchain deployment and new innovations in e-commerce sector will result in better market growth.

Prevalence of betterment in user experience

The user experience will drive the mobile app development market with 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. Additionally, awareness about cyber-attacks especially regarding banking apps is anticipated to have impact on the market growth. The rise in the adoption of bring your own device (BYOD) program is anticipated to increase the market growth owing to increase in the requirement of apps that are functional on various platforms.


The high cost involved in app development coupled with technical difficulties faced and lack of technical expertise are the major restraining factors towards the growth of mobile app development market.

Mobile App Development Market
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Market Segmentation

Our-in depth analysis of the mobile app development market includes the following segments:

By Market Place Type

  • Google App Store
  • Apple App Store
  • Others

By Application Type

  • Entertainment
  • Gaming
  • Banking
  • Airlines
  • E-Commerce
  • Education
  • Government Agencies
  • Social Networking

By Region

Based on regional analysis, the 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 maximum share in the revenue of mobile app development market owing to presence of prominent IT industry and high users of IOS devices. The United States is anticipated to have high contribution in the market growth on the back of presence of major mobile app developers. In Europe, U.K. is anticipated to be the top country owing to high middleware software market. Apart from this, Asia-pacific is anticipated to expand at a highest CAGR on the back of improvement in the growth of the IT sector and rise in adoption of the smartphones. China is anticipated to have maximum market share in the region on the back of developing low cost tablets and smartphones which indeed resulted in the rise in download of mobile applications. The emerging digital technology and its use in Asia-Pacific region is anticipated to result in market growth. Middle East and Africa is anticipated to have a slow market growth owing to unavailability of resources required for mobile app development.

The Mobile App Development 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

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Top Featured Companies Dominating the Market

    • Facebook Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Google Inc.
    • Microsoft Corporation
    • IBM Corporation
    • Apple Inc.
    • Amazon Inc.
    • Kony Inc.
    • Verivo Software Inc.
    • Infosys Ltd.
    • Wipro Corporation

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