Mobile Application Market Size Expected to reach USD 407.31 Billion By 2026 - Valuates Reports

The mobile application is one of the fastest-growing industries and will continue to expand at a significant pace due to increased smartphone and internet penetration.The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt, and will affect the mobile application market significantly in 2020.

The global mobile application market size in 2018 was estimated at USD 106.27 Billion and expected to hit USD 407.31 Billion by 2026, rising at a CAGR of 18.4% from 2019 to 2026.

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The study focuses on the market analysis of mobile apps, growth opportunities, constraints, and trends. The report offers Porter's five forces analysis to understand the effect on the mobile device market of various factors such as supplier bargaining power, competitive strength of rivals, the threat of new entrants, the threat of substitutes, and buyer bargaining power.

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TRENDS INFLUENCING THE MOBILE APPLICATION MARKET SIZE

The demand for mobile applications is increasing at a substantial pace and involves many new entrants in the mobile application development industry. The gaming segment is expected to grow with the rise in advances in AR & VR. Increased application of augmented reality and Virtual Reality is expected to increase the mobile application market size.

Increasing investments in digitization and increased adoption of the Internet of Things Technology and Mobile Connected Smart Objects are expected to provide substantial opportunities for growth of the mobile application market size during the forecast period.

Rise in the customer base for the e-commerce industry and increased focus on apps specifically used for health & fitness is expected to increase the mobile application market size. The number of online customers has increased dramatically due to growth in the e-commerce sector, product selection, enticing deals, and numerous discounts that are only available on e-platforms. The advantage of having a mobile application for even a small business is that it improves brand recognition and offers a whole new level of e-commerce user experience, helps create customer loyalty, gathers feedback, and helps stand out from the crowd.

MOBILE APPLICATION SHARE ANALYSIS


The gaming segment is expected to hold the largest market share for mobile applications in 2018 and is projected to continue to dominate during the forecast period. This exponential rise is due to an increase in the number of mobile gaming applications in developing countries.

In terms of region, North America is expected to hold the largest mobile application market share. It is closely followed by Europe. The dominance of North America & Europe is due to a rise in the disposable income and gaming population.

The Asia Pacific is projected to show the highest growth rate over the forecast period as the area experiences large amounts of downloads for mobile applications. The increasing penetration of smartphones is further anticipated to increase the Asia-Pacific mobile application market share.

MOBILE APPLICATION MARKET COMPETITIVE LANDSCAPE

Several big players and many of the new entrants in the third-party application developers shape the dynamic mobile device industry landscape. The leaders are constantly innovating with the latest technologies and investing in R&D to stay ahead of the competition.

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MOBILE APPLICATION MARKET KEY SEGMENTS:
Mobile Application Market By Marketplace
Google Play Store
Apple App. Store
Others.

Mobile Application Market By Apps Category
Gaming
Entertainment & Music
Health & Fitness
Travel & Hospitality
Retail & ECommerce
Education & Learning
Others.

Key players profiled in the mobile app market are
IBM Corporation
Google Inc.
Apple Inc.
Microsoft Corporation
BlackBerry Ltd.
Fueled
LeewayHertz
Adept Business Solutions
Burgan National Information Systems Co.
Verbat Technologies.
Others.

Mobile Application Market By Region
North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Others

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