Mobile Application Analysis By Manufacturers SAP SE, Google Inc., Opera Software, Microsoft, Apple., CA Technologies
The global mobile application market was estimated to account for US$ 54,498.7 Mn in terms of value by the end of 2019
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Market Dynamics- Driver
Rapid growth of mobile ad industry is expected to drive growth of the global mobile application market during the forecast period
Mobile ad industry has witnessed significant growth in the recent past, owing to high adoption of mobile devices such as smartphones, tablets, and more. According to Coherent Market Insights' analysis, in 2016, the global mobile industry accounted for over US$ 100 billion in terms of expenditure and exceeding 50% of total digital ad expenditure. According to the same source, in 2014, mobile app ads accounted for over 30% of the total mobile advertising revenue. Hence, high growth of mobile ad industry is expected to boost the global mobile application market over the forecast period.
Rampantly expanding e-commerce industry is expected to propel the global mobile application market over the forecast period
Many retailers are focused on finding opportunity for market development without physical footprint. Consumers prefer buying products on online platform instead of local retail stores, especially smartphones. This indicates that there is an opportunity for e-commerce as well as for mobile application companies across the globe. Moreover, many investors have shown interest in e-commerce platform in the recent past. For instance, in September 2014, Alibaba, a China-based e-commerce platform, invested US$ 25 billion in initial public offering (IPO) in e-commerce. Therefore, continuous expansion of e-commerce industry is expected to support the market growth in the near future.
Constantly changing lifestyle across the world is expected to boost the global mobile application market growth during the forecast period
Changing lifestyle refers to changing habits, beliefs, financial status, morals, and purchase parity of an individual. . Understanding the lifestyle trends of the population allows a business to better market itself so that the business can easily change its strategy if those trends change. Connately changing lifestyle and spending habits across the globe are expected to accelerate the market growth over the forecast period.
Asia Pacific region dominated the global mobile application market in 2019, accounting for 43.0% share in terms of value, followed by Europe, and North America respectively.
Global mobile application market, by store type segment, between apple app store sub-segment was accounted for 46.9% market share in 2019 and is expected to grow at a CAGR of 11.4% between 2019 and 2027.
Key companies operating in the global mobile application market are SAP SE, Google Inc., Opera Software, Microsoft Corporation, Apple Inc., CA Technologies, Samsung Electronics Co., Ltd., Cognizant, China Mobile Limited, and Hewlett Packard Enterprise Development LP.
Key companies in the market are focused on product launch, in order to enhance their market presence. For instance, in November 2019, Microsoft Corporation introduced new 'Office app' for iOS and Android platforms.
Key players in the market are focused on partnerships and collaborations, in order to gain competitive edge in the market. For instance, in May 2016, SAP SE entered into partnership with Apple in order to develop iOS enterprise apps.
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