The worldwide market for mobile app development can obtain a growth rate of over 14% from 2016 to 2022, which is the forecast period, says Market Research Future (MRFR).
Primary Drivers and Key Barriers
Rising dependency on smartphones has given way to a host of opportunities for IT industries, as they now offer mobile apps to users for multiple applications. Mobile applications can be described as software that runs on tablets, smartphones, and various other devices like home automation devices and internet TV.
Android and IOS are the primary platforms that are kept in mind when the mobile apps are developed by software developers. The mobile application market is growing on the back of mushrooming IoT market, since it helps seize more information that is used for optimizing and elevating the application features used by the consumers.
The strong growth of the Mobile Application Development Market is in response to the surging penetration of smartphones, booming IoT market, and rising demand for mobile apps, particularly for applications like media, e-commerce, social networking and games. But the lack of technical knowhow in app development can slow down the market growth rate to some extent in the years ahead.
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The worldwide market for mobile app development has been segmented with respect to platform and application.
Depending on the platform, the market includes IOS, and Android.
Application-based segments in the market are e-commerce, banking, retail, education, government agencies, entertainment (Gaming and media), airlines, and social networking among others.
North America, Asia Pacific (APAC), Europe, along with the Rest of the World (ROW) are the primary regions as per which the MRFR analysts have studied the mobile app development market.
Among all the regions, North America has seized the largest share in the mobile app development market on account of the presence of renowned IT industries along with high penetration of IOS devices. In the coming years, the focus on app security and optimization is expected to rise in the region. At present, Google is striving to succeed in this aspect, by coming up with guidelines that mandate app developers to enhance their apps according to the latest Android version. Similarly, Apple is quite rigid about the abandoned apps that are outdated, as they will now be removed from the App Store. Altogether, these efforts are projected to result in a more refined user experience, thus working in favor of the regional market for mobile app development.
The APAC mobile app development market can note strong growth at the fastest rate, owing to the rising use of smartphones in countries like India, Indonesia and China among others. AR and VR are touted to be a futuristic technology and are set to play a significant role in mobile app development. More than a million consumers are estimated to shop online where AR technology is extensively used, which is prompting a number of esteemed mobile app developers in the region to keep high standards for user interface design.
Mounting competition between players combined with the high-quality application testing has boosted the market growth in Europe. A number of companies in the region are making considerable investments in research and development (R&D) to explore creative solutions for consumers. Several innovations within the mobile industry have also led to growth of the mobile app development market in the region. Adoption of latest technologies, evolving lifestyle, government spending on secured centrally connected systems, increasing use of mobile devices, high product adoption among corporates to smoothen their daily tasks, rising adoption of machine learning (ML) and surge in web-based applications are additional factors inducing market growth in Europe.
The top players in the worldwide market for mobile app development are Wipro Corporation (India), Microsoft Corporation (U.S.), Kony, Inc. (U.S.), Verivo software, Inc. (U.S.), Amazon, Inc. (U.S.), Facebook, Inc. (U.S.), Google, Inc. (U.S.), Infosys, Ltd. (India), IBM corporation (U.S.), Apple, Inc. (U.S.), among others.
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Global Mobile Application Development Market, by Platform (IOS, Android), by Application (E-commerce, Banking, Entertainment (Gaming, Media), Education, Government Agencies, Airline Industry) – Forecast 2022
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