Press release
Mobile Application Market to See Huge Growth by 2027 : Meta Platforms, Amazon India, Google India
Mobile Application
Industries and key technological segments are evolving; navigate these changes with latest insights released on Mobile Application Market Study
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Mobile applications are different types of software designed to run on smartphones, tablets, and computers. The mobile application market is expanding rapidly, and this trend is expected to accelerate in the future with the introduction of various applications in different segments. In terms of mobile application installations, India has the second-largest market globally.
Market insights:
In 2021, the most-downloaded app categories were games, social media, health and hygiene, and entertainment. The total number of mobile applications downloaded in India was 24.27 billion in 2020. It is expected to reach 92.55 billion by 2026, expanding at a CAGR of ~24.81% during the 2021-2026 period. Some of the popular apps are YouTube, WhatsApp Messenger, and Facebook.
Major Highlights of Mobile Application Market Report
1) Why this market research study would be beneficial?
- The study guides Mobile Application companies with strategic planning to ensure they realize and drive business value from their plans for growth strategy.
2) Why Mobile Application Market would define new growth cycle ?
- Analysis says that Mobile Application Companies that have continues to invest in new products and services including via acquisitions have seen sustainable growth, whereas one with slower R&D investment growth have become stagnant. Technology companies with annual R&D growth over 20% have outperformed their peer group in revenue growth.
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Impact of COVID-19:
In April 2020, India's spending on entertainment apps increased by more than 22%, resulting in a 47% increase in OTT subscriptions and a 26% rise in revenue for OTT platform. In June 2020, the government blocked 59 mobile apps, most of which were either of Chinese origin, or were marketed or distributed by entities based in that country.
Research shows that Mobile Application companies have increased R&D spend and accelerated merger & acquisitions. To realize value they intend, companies like Ani Technologies Private Limited, Flipkart India Private Limited, Gametion Technologies Private Limited, Novi Digital Entertainment Private Limited, One97 Communications Limited, PhonePe Private Limited, Zomato Media Private Limited, Amazon India Ltd., Google India Pvt. Ltd, Meta Platforms etc need to continuously evaluate their governance, risks and control, infrastructure, and talent to aligned planned growth strategies with their operating business models.
To comprehend Mobile Application market dynamics, the market study is analysed across major geographical regions/country
• North America: United States, Canada, and Mexico
• South & Central America: Argentina, Chile, Brazil and Others
• Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
• Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
Important Years in Mobile Application Market Study Major trends of Mobile Application Market using final data for 2019 and previous years, as well as quarterly or annual reports for 2021. In general, Years considered in the study i.e., base year as 2021, Historical data considered as 2017-2021 and Forecast time frame is 2022-2027.
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Market drivers:
Mobile wallets are considered to be one of the most popular payment options due to their numerous benefits. At present, one of the most popular trends is the development of apps that support wearable technology. Many businesses have opted for the development of a mobile enterprise app for their companies.
Key deterrents to the growth of the market:
Organizations are investing considerable amounts of money to develop applications because the apps that are available are not completely reliable and are expensive. Smartphones are the main targets for cyber crimes, virus attacks, and other similar illegal practices.
The Mobile Application study is a perfectly designed with mix of both statistically relevant quantitative data from industry, coupled with insightful qualitative comment and analysis from Industry experts and consultants. To ascertain a deeper view; Mobile Application Market Size by key business segments and applications for each of above listed region/country is provided along with competitive landscape that includes Comparative Market Share Analysis by Players (M USD) (2019-2021E) and market concentration rate of Mobile Application Industry in 2022.
In-depth company profiles for 15+ Mobile Application leading and emerging players that covers 3-years financial history, swot analysis and other vital information like legal name, website, headquarter, % market share and position, distribution and marketing channels and latest developments.
Driving and maintaining growth continues to be a top-of mind issue for Boards, CXOs, and investors in the Technology industry. Mobile Application companies and the chain of services supporting them are facing profound business challenges majorly from three factors:
1. The explosive rate at which competitors and Mobile Application industry is growing.
2. The amount of growth that is driven by innovation in technologies, value propositions, products and services.
3. The speed at which innovations needs to be furnished in order to drive growth in Mobile Application Market.
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Thanks for reading Mobile Application Industry research publication; get customized report or need to have regional report like North America, Europe, USA, China, Asia Pacific, India etc then connect with us @ sales@htfmarketreport.com
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA - 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com
About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.
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