MOBILE APPLICATION MARKET ANALYSIS

Mobile Application Market, by Store Type (Apple App Store, Google Play, and Others), by End-use (Games, Social Networking, Healthcare, Books, Music, Productivity, Education, Entertainment, News, Photos and Videos, Navigation, Travel, Business, and Others), and by Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Market Insight- Global Mobile Application Market

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Market Overview

A mobile application or an app is a type of application software that is designed to run on a mobile device such as smartphone or tablet computer. Initially, the apps are intended for productivity assistance such as calendar, email, and contract databases. However, growing demand has led to expansion of various other uses such as games, GPS, order-tracking, ticket purchasing, location-based services, and more. The mobile applications are downloaded from applications distribution platform, which is operated by mobile operating system owners such as Google Play Store (Android) or App Store (iOS). Some of these apps are free to download, while some are paid.

The global mobile application market was estimated to account for US$ 54,498.7 Mn in terms of value by the end of 2019

Market Dynamics- Driver

Rapid growth of mobile ad industry is expected to drive growth of the global mobile application market during the forecast period

Mobile ad industry has witnessed significant growth in the recent past, owing to high adoption of mobile devices such as smartphones, tablets, and more. According to Coherent Market Insights’ analysis, in 2016, the global mobile industry accounted for over US$ 100 billion in terms of expenditure and exceeding 50% of total digital ad expenditure. According to the same source, in 2014, mobile app ads accounted for over 30% of the total mobile advertising revenue. Hence, high growth of mobile ad industry is expected to boost the global mobile application market over the forecast period.

Rampantly expanding e-commerce industry is expected to propel the global mobile application market over the forecast period

Many retailers are focused on finding opportunity for market development without physical footprint. Consumers prefer buying products on online platform instead of local retail stores, especially smartphones. This indicates that there is an opportunity for e-commerce as well as for mobile application companies across the globe. Moreover, many investors have shown interest in e-commerce platform in the recent past. For instance, in September 2014, Alibaba, a China-based e-commerce platform, invested US$ 25 billion in initial public offering (IPO) in e-commerce. Therefore, continuous expansion of e-commerce industry is expected to support the market growth in the near future.

Constantly changing lifestyle across the world is expected to boost the global mobile application market growth during the forecast period

Changing lifestyle refers to changing habits, beliefs, financial status, morals, and purchase parity of an individual. . Understanding the lifestyle trends of the population allows a business to better market itself so that the business can easily change its strategy if those trends change. Connately changing lifestyle and spending habits across the globe are expected to accelerate the market growth over the forecast period.

Asia Pacific region dominated the global mobile application market in 2019, accounting for 43.0% share in terms of value, followed by Europe, and North America respectively

Source: Coherent Market Insights

Market Dynamics- Restraints

Mobile application market maturity is expected to restrain growth of the global mobile application market during the forecast period

Application download activity is expected to decrease at a relatively slower pace than direct revenues from paid apps. According to the recent disclosure of two global leaders operating in the global mobile application market – Google and Apple – the number of applications installed are likely to reduce over time as the requirement from mobile applications by consumers will be fulfilled. Another factor responsible for the decline of the global mobile application market is a saturation of the smartphone market, which will result in the decline of total mobile application installs.

Lack of advanced mobile devices as compared to mobile application development is expected to hinder the global mobile application market over the forecast period

Mobile device manufacturers are not able to sustain the intense competition and keep up with mobile app developers. Applications designed for specific functions require equally advanced device features. In order to resolve this problem, consumers need to shift to smartphones with advanced features that permit operational efficiency of mobile applications. Hence, these factors are expected to hinder the market growth over the forecast period.

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Market Opportunity

Growing investment in digitization is expected to present lucrative business opportunity for market players

Various technology companies are investing significantly, in order to accelerate digitalization in emerging economies. For instance, in September 2015, Qualcomm Inc., a U.S.-based semiconductor and telecom equipment manufacturer, invested US$ 150 million in Indian startups. Such investments are expected to offer lucrative business opportunity for market players to expand their product portfolio, enhance their market presence, and gain competitive edge in the market.

Increasing adoption of mobile-connected smart objects and Internet of Things technology are expected to provide excellent business opportunity

Consumers are preferring mobile-connected smart objects such as smartphone-controlled air condition (AC), TV, vacuum cleaners, projectors, and more. Moreover, increasing adoption of Internet of Things technology that can integrate computing devices, mechanical and digital machines, people, objects, and animals with unique identifiers (UIDs) has presented significant market opportunity for market players to capitalize on untapped market.

Source: Coherent Market Insights

Global mobile application market, by store type segment, between apple app store sub-segment was accounted for 46.9% market share in 2019 and is expected to grow at a CAGR of 11.4% between 2019 and 2027.

Source: Coherent Market Insights

Market Trends

North America Trends

Different businesses have launched their own apps, in order to expand their consumer base and increase revenue generation. For instance, Amazon, eBay, Alibaba, etc. are e-commerce platforms, while social Facebook, Instagram, Twitter are social media platforms. There are m-health apps for women health, fitness, weight loss, and personal health medication and record. Furthermore, there is constant battle over consumer base between two major IT organizations namely Apple and Google. According to CMI analysis, consumers prefer Apple mobile applications over Google mobile applications in the U.S. with loyalty percentages of 89% and 84% respectively. According to the same source, With respect to the operating system, iOS has the strongest brand loyalty followed by Android, with brand loyalty percentages of 89% and 68% respectively in the U.S. Moreover, in 2015, 2015, Google had no competitors among the Android operating system segment with its brand loyalty reaching 82% in the U.S.

Europe Trends

Time spent on mobile apps and web is higher than time spent on PC web. According to CMI analysis, in December 2014, Britons spent 44 average hours with their mobile apps. According to the same source, In December 2014, it was found that Italians used their mobile apps for about 40 hours, twice as much as they spent on the web through their PCs for over 20 hours. Moreover, rapidly expanding e-commerce industry in the region is another factor boost the demand for mobile applications. For instance, in 2013, the e-Commerce industry contributed around 24.1% of total enterprise revenue in the European country of Czech Republic.

Value Chain Analysis

Competitive Section

Key companies operating in the global mobile application market are SAP SE, Google Inc., Opera Software, Microsoft Corporation, Apple Inc., CA Technologies, Samsung Electronics Co., Ltd., Cognizant, China Mobile Limited, and Hewlett Packard Enterprise Development LP.

Key Developments

Key companies in the market are focused on product launch, in order to enhance their market presence. For instance, in November 2019, Microsoft Corporation introduced new ‘Office app’ for iOS and Android platforms.
Key players in the market are focused on partnerships and collaborations, in order to gain competitive edge in the market. For instance, in May 2016, SAP SE entered into partnership with Apple in order to develop iOS enterprise apps

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