Mobile Application Market Size Hit US$ 408.13 Bn by 2027

Precedence Research recently published a report on “Mobile Application Market Size, Share and Growth Analysis By Marketplace (Google Play Store, Apple iOS Store, and Other Marketplaces), By App Category (Music & Entertainment, Gaming, Health & Fitness, Education & Learning, Retail & e-Commerce, Travel & Hospitality, and Others) – Global Industry Analysis, Trends, Regional Outlook and Forecast 2020 – 2027”. Amid the COVID-19 crisis, the global mobile application market value is projected to reach US$ 408.13 billion by 2027, rising at a CAGR of 18.6% from 2020 to 2027.

Mobile applications are various types of software applications that are developed to run on tablets, smartphones, and computer tablets. They provide similar service as personal computer to the users. The prime aim of mobile applications is to provide internet services to the users on their mobile phone by accessing the internet. Today, various types of mobile application are present in the market that connect users to various sectors such as banking, entertainment, healthcare, hotels & restaurants, tour & travel, and many other. Necessity is the mother of any invention, thus rising need for globalization and IoT-connected world is driving the mobile applications market prominently.

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Growth Factors

Increasing penetration of smartphone devices along with rapid spread of concept of connected world fuels the demand for various mobile applications. Introduction of mobile control devices for smart home projected to be a dream-changer for the mobile application market. As per a survey statistics, control and connectivity solutions penetration for smart homes has hit 27% in 2019. Similarly, other regions also encountered rapid growth in connectivity & control solutions for smart home. Additionally, the IoT penetration in smart homes helps to control the lighting, security, music, temperature, air conditioning, and other mobile control appliances.

Besides this, mobile applications are largely useful for online banking, health monitoring, and entertainment businesses. Fitness applications and several gaming applications that are developer-trusted or native application have now became companion for any smartphone user. To enhance the user experience using interactive and better user interface third party application developers are trying to grab the maximum market opportunity. Thus, rising competition for the better and enhanced mobile application projected to fuel the market growth during the forecast period. However, lack of internet penetration in some of the rural and under-developed areas may restrict the market growth.

Report Highlights

• Asia Pacific encountered the fastest growth over the forecast period and expected to dominate the global mobile application market in years to come. This is attributed to the rising penetration of smartphones and internet usage in the region.
• Government initiative for 5G and LTE network has increased the internet speed that provides ease in accessing complex and large size applications. Similarly, users are also attracted towards the smart gadgets and appliances that has inbuilt wifi, Bluetooth, and sensors to make it controllable from mobile.
• North America held the dominant position in the global mobile application market in 2019 owing to early technology adoption coupled with presence of dominant market players such as IBM Corp., Microsoft Corp., Google LLC, and many others.
• Apple iOS store led the global mobile application market in 2019 with approximately half of the global market revenue share. The dominance of the segment is mainly due to rising demand of apple and iPhones in the market. On the other hand, Google Play Store exhibits the fastest growth rate over the forecast period.
• By app category, gaming segment has its proliferated revenue share in the past few years owing to gaming companies have tilted their focus towards incorporation of graphics and 3D animation to enhance the user experience.

Regional Snapshots

The Asia Pacific exhibits the fastest growth rate during the forecast period and expected to hold the dominant position in the coming years. Prime factors attributed to this are explosive growth in smartphone sales in the past few years, with several new competitors capturing the market for example OnePlus, Xiaomi, Nokia, & Vivo and challenging the established players such as iPhone and Samsung. In addition, rising internet penetration in the under-developed and developing Asian countries also contribute significantly in the market growth during the coming years.

However, North America led the global mobile application market with approximately 40% of the revenue share in 2019. This is majorly due to the presence of some of the major market players in the region such as Apple Inc., Cognizant, CA Technologies, Hewlett Packard Enterprise, Google LLC, Microsoft Corporation, IBM Corp., and many more. Furthermore, increased competition in the market has triggered the application development speed along with enhanced user experience.

Key Players & Strategies

The global mobile application market is dominated by the well-established market players such as IBM Corp., Google LLC, Microsoft Corp., HP Enterprises, Apple Inc., and Cognizant. Besides this, the market offers significant opportunities for the startup companies to establish their footprint, thereby increasing the market competition. However, rising demand for mobile applications in various sectors has offered significant opportunities of the companies to flourish in the market.

Some of the key players of the market are Apple Inc., Cognizant, CA Technologies, Hewlett Packard Enterprise, China Mobile Ltd, Google LLC, Intellectsoft, Microsoft Corporation, International Business Machines Corporation, and Verbat Technologies among others.

Market Segmentation

By Marketplace

• Google Play Store
• Apple iOS Store
• Other Marketplaces (Microsoft)

By App Category

• Music & Entertainment
• Gaming
• Health & Fitness
• Education & Learning
• Retail & e-Commerce
• Travel & Hospitality
• Others (Navigation, Utilities, and News)

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Takeaways

• Comprehensive analysis of the mobile application market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global mobile application market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Mobile Application Market, By Marketplace

7.1. Mobile Application Market, by Marketplace Type, 2020-2027
7.1.1. Google Play Store
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Apple iOS Store
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Other Marketplaces (Microsoft)
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Mobile Application Market, By App Category

8.1. Mobile Application Market, by App Category, 2020-2027
8.1.1. Music & Entertainment
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Gaming
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Health & Fitness
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Education & Learning
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Retail & e-Commerce
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Travel & Hospitality
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Others (Navigation, Utilities, and News)
8.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Mobile Application Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.2. Market Revenue and Forecast, by App Category (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.4.2. Market Revenue and Forecast, by App Category (2016-2027)

Chapter 10. Company Profiles

10.1. Apple Inc.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Cognizant
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. CA Technologies
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Hewlett Packard Enterprise
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. China Mobile Ltd
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Google LLC
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Intellectsoft
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Microsoft Corporation
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. International Business Machines Corporation
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Verbat Technologies
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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