Mobile Applications Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Rising Internet Penetration to Boost the Mobile Applications Market

The mobile applications market worldwide is expected to grow with a CAGR of 15.60% during the forecast period from 2021 to 2029, starting from US$ 143.8 Bn in 2020. Mobile applications are an integral component of smart phones and other smart devices such as tablets, smart TV’s etc. Further, there are more than 5.0 Bn mobile users in the world, with global internet penetration at 57%. Introduction of 4G and other content delivery technologies such as live streaming media, downloadable objects etc., is expected to continue boosting the market. However, high security concerns over customer’s data hinder the mobile applications market. Furthermore, with growing penetration of social media, games and other entertainment applications, the mobile applications market is expected to register continued growth over the forecast period.


Google Play Store to Continue as the Market Leader

Google play store segment holds the highest market share in the mobile applications industry followed by Apple app store. In 2020, Google play store has more than 39% of the market revenue followed by Apple app store with more than 37%. As there are more number of Android smartphones compared with any other operating systems, Google play store remains the preferred destination for app downloads. Further, Google play store provides access to a wide range of tools and libraries, which can be used to develop applications. Due to various benefits such as less app cost, high app compatibility and more number of apps than Apple app store is driving the growth of Google play store segment.

Asia Pacific to Emerge as the Market Leader in the Forecast Period

In 2020, North America led the market followed by Asia Pacific. Due to rise in internet penetration in Asia Pacific, we are expecting a boom in the mobile applications market in Asia Pacific. As emerging economies such as China and India are the largest producer and consumers of cost-effective smartphones. Additionally, growing disposable income & rising internet penetration coupled with government initiatives such as ‘Digital India’ is giving boom to the market in the country. On account of these factors, we are expecting tremendous growth in the region.

Major market players emphasize on introducing new products and mergers & acquisitions. For example, in 2015, Axway acquired Appcelerator to increase their product portfolio. Some of the prominent players operating in the mobile applications market include IBM Corporation, Apple, Inc., BlackBerry Ltd., LeewayHertz Technologies Private limited, Burgan National Information Systems Co., Alphabet Inc. (Google), Microsoft Corporation, Fueled, Adept Business Solutions, Verbat Technologies, BlackBerry Ltd., Willow Tree, Inc, Intellectsoft, Appster , Gameloft SE , Konstant Infosolutions, Adobe Systems, Inc., Appcelerator , Kony Inc, OutSystems, Inc , Verivo Software Inc., Ubisoft Entertainment SA, EA Sports and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of mobile applications in 2020 and forecast up to 2029?
• Which is the largest regional market for mobile applications?
• What are the major trends followed in overall mobile applications across different regions?
• What are the key market trends and high-growth opportunities observed in the mobile applications market?
• What are the drivers of the mobile applications market?
• Who are the key mobile applications companies leading the market?
• What are the key strategies adopted by the leading mobile applications companies in market?

Unique data points of this report

• Statistics on smartphones sales worldwide
• Recent trends across different regions in terms of adoption of mobile applications
• Notable developments going on in the mobile applications industry
• Attractive investment proposition for mobile applications segment as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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