Mobile Application Market Competitive Analysis By 2023 -IBM Corporation, Apple, Inc., BlackBerry Ltd., LeewayHertz, Burgan National Information Systems Co., Google, Inc., Microsoft Corporation, Fueled, Adept Business Solutions
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Increased application of virtual reality & augmented reality, incorporation of smart sensors such as a gyroscope, motion sensors, and accelerometers into smartphones, and surge in internet penetration in developing regions have boosted the growth of the global mobile application market. However, lack of high-speed connectivity in developing & underdeveloped regions. On the contrary, growing investments in telecommunication, m-commerce, and electronics industries along with rising in the subscription of several social media platforms are expected to create lucrative opportunities for the market players in the near future.
Apple Store segment holds the largest share
The Apple Store segment held lion's share in 2017, contributing nearly half of the total market, as Apple users tend to purchase several applications. This segment will maintain its dominance by 2023. However, the Play Store segment is expected to manifest the fastest CAGR of 23.0% during the study period, as Android has been gaining a large global consumer base. Other marketplaces are also analyzed in the report.
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Entertainment & music segment to manifest the fastest growth by 2023
The entertainment & music segment is projected to register the fastest CAGR of 29.5% through 2023, owing to rise in adoption of several social media and music- & video-related mobile application. However, the gaming segment held the largest share in 2017, contributing more than three-fourths of the market share, owing to increase in marketing of several online games, rise in launch of games that offer premium and immersive gaming experience, and increase in number of in-app purchases. The report also analyzes health & fitness, travel & hospitality, retail & e-commerce, education & learning, and others.
Asia-Pacific region to portray high demand for the market through 2023
Asia-Pacific region is estimated to portray the fastest CAGR of 22.1% during the study period, owing to rise in usage of smartphones and increase internet penetration coupled with improved economic growth. However, the North America region dominated the market in terms of revenue, contributing about two-fifths of the total market, owing to huge IT industry base and high number of mobile app developers. Moreover, the consumer-oriented professional culture and presence of major market players drive the growth of the market in the North America region. The other regions included in the report are Europe and Latin America, Middle East and Africa (LAMEA).
Major market players
- IBM Corporation
- Apple, Inc.
- BlackBerry Ltd.
- Burgan National Information Systems Co.
- Google, Inc.
- Microsoft Corporation
- Adept Business Solutions
- Verbat Technologies.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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