Mobile Application Development Market to Witness a Steady Growth in Next 5 Years

Mobile application development is the process of building software applications for mobile devices. It is one of the key verticals in the Information Technology industry, wherein a range of products and services are offered towards an easy, effective and fast development of mobile applications.

From testing a mobile application to deploying it on smartphones and tablets, the process of mobile application development is extensive. In the global market for mobile application development, companies (customers) seek mobile app developers who can build a mobile app for their businesses. There are several customizations that are considered while developing mobile apps. Some companies also prefer to buy existing mobile apps or integrating specific applications in their own mobile apps from third-party vendors.

Key Segmentations in Mobile Application Development Market

Application programming interfaces (APIs) and front-end development tools (DevOps) are among the key types of products and services offered by market players.

With respect to deployment, mobile application development is bi-furcated into on-premise or cloud. There is also a segmentation done on the basis of application, where mobile app developers offer their product and services for particular purposes such as:
● Web security
● Email networking
● Network security
● Communications
● Cloud security
● Database
● Real-time Tracking
● Mobility solutions

For a mobile application development country to penetrate the market organically, tapping different industrial verticals is important. Some of the key end-use verticals of mobile app development include -

● Telecommunication & IT
● Transportation and Logistics
● Manufacturing
● Education
● Media & Entertainment
● Healthcare
● BFSI
● Travel and Hospitality
● Retail

To gain competitive advantage, a majority of players are aiming to become proficient mobile app developers for niche industrial verticals.

Future Demand for Mobile Application Development - Key Trends

Growing penetration of the internet and smartphones is the most pivotal driver for the demand. Mobile application development is now a sought-after business strategy for businesses interested in digital transformation.

Some of the key trends impacting the demand for mobile application development include -

1. Low-cost, affordable development
2. Effective use of APIs in primary application scenarios
3. Adoption of mobile devices in the commercial sector
4. High uptake for on-the-go working

Other trends such as BYOD, multi-functional platforms, and preference to third-party development are also influencing the growing demand for mobile application development.

Regional Growth in Mobile Application Development Market

Europe is the largest market for mobile application development, closely followed by North America. In terms of services rendered, India, China, Japan and other tech hubs in the Asia-Pacific region are in leading positions.

While the global mobile application development market is set to grow at a double-digit CAGR in the next five years (2019-2024), the market is likely to witness constraints from -

● Increasing costs of backend services
● Unavailability of mobile tech support
● Limited access to technical experts
● Complexity of processes
● The emergence of advanced yet untested development tools & platforms

Nonetheless, within a few years down the line, the global demand for mobile application development is likely to bring in nearly US$15 Billion. According to Forbes, India’s app economy is likely to bring forth huge opportunities. App Annie has forecasted that by 2022, India will have witnessed 207% growth in the mobile applications sector, with more than 37 billion downloads being recorded every year.

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This release was published on openPR.