The global mobile application market size reached a value of USD 227.32 billion in 2023. During the forecast period of 2024 and 2032, the market is expected to grow at a CAGR of 14.1% to reach a value of around USD 745.06 billion by 2032.
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Software applications that run on or are created for smartphones, tablets, and computer tablets are known as mobile applications. Similar services to those offered by computer-based apps are also offered by mobile applications, but suited for the screen size and interface of mobile devices. There are many programmes available for various platforms, including Android, iOS, Windows, and others.
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On the basis of platform, the market is categorised into Google Store and Apple Store, among others. Based on app category, the market is divided into gaming, music and entertainment, health and fitness, social networking, retail and e-commerce, video and photo, and travel and hospitality, among others. The regional markets for mobile applications can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report offers a detailed analysis of the market based on a SWOT analysis and Porter's five forces model. The following top players in the global mobile application market are thoroughly analysed in the study, along with their competitive landscape and recent developments such as mergers, acquisitions, investments, and expansion plans.
During the forecast period, it is anticipated that the Apple Store segment would account for the largest mobile application market share. The significant share of the segment can be largely ascribed to iOS apps' considerably greater rate of monetisation for revenue from in-app purchases and premium apps. Additionally, the growing number of iPhone and iPad users worldwide is projected to support the segment's expansion.
Meanwhile, the Google Play Store category accounted for the highest share in terms of downloads in 2021 and is anticipated to maintain its leadership throughout the forecast period. Additionally, sales of Android smartphones have increased significantly over the past several years, with numerous new competitors such as Xiaomi Corporation and OnePlus challenging the established and dominant giants like Samsung and iPhone.
A broad variety of mobile applications have been released on Google Play Store as a result of the development of new Android smartphone manufacturers. A large user base and the release of a variety of mobile applications indicate that the Google Play store will continue to grow rapidly over the forecast period.
North America is anticipated to dominate the mobile application market due to the concentration of many leading companies, including Apple Inc., Hewlett Packard Enterprise, Google LLC, Netflix Inc., and Microsoft Corporation in the region. The extensive usage of smartphones, rising in-app consumer spending, and significantly more smartphone application downloads all contribute to a considerable market share. In terms of paid mobile games, in-app purchases, and a rapidly expanding mobile app user base, the United States is predicted to develop into a very lucrative market for mobile gaming applications.
The Asia Pacific area is expected to experience the fastest growth given its potential for internet adoption and smartphone usage. According to estimates, China and India will remain the two biggest markets, offering excellent growth opportunities for all participants in the mobile application ecosystem.
Furthermore, it is projected that the growth of the market for mobile applications will be positively impacted in the years to come by increased disposable income along with government initiatives like Digital India. Additionally, networking advancements and the accessibility of low-cost data consumption packs are important growth drivers for regional expansion.
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Google LLC, a subsidiary of Alphabet Inc. with its main office in California in the United States, offers internet search and advertising services. The company focuses on enterprise and hardware products, advertising, search engines, platforms, and operating systems.
Apple Inc., an American technology business, was established in April 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. The company expanded into various consumer electronics categories over time, including mobile communication devices, notebooks, wearable technology, and digital music players. The firm also creates and sells a variety of complementary software, services, and networking solutions.
Alibaba Group offers e-commerce and IT infrastructure services. Thanks to the company's basic technical backbone services, businesses, brands, retailers, and merchants can market, sell, and operate online. Its businesses include traditional commercial operations, digital media and entertainment, cloud computing, and various innovation projects.
Other market players are Microsoft Corporation, Meta Platforms, Inc., Amazon.com, Inc., IBM Corporation, Cognizant Technology Solutions Corporation, Gameloft SE, and Hewlett Packard Enterprise Development LP, among others.
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
