Mobile Application Market 2023 Outlook By Industry Size, Share, Revenue, Regions, and Forecast to 2031

Mobile application refers to an application software that is designed to operate on a mobile device such as smartphones, tablets, and laptops. Mobile apps function similar to the programs installed on PCs. These apps are popular owing to their ease of use and quick accessibility. The apps for smartphones or mobile devices are available on some of the popular marketplaces such as, Apple App Store, Google Play store, and some other marketplaces such as Microsoft Windows Store, Amazon App store, Huawei App Gallery, and others.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Increase in the adoption of variable devices and rise in customer base for the e-commerce industry are the major factors driving the growth of the market. In addition, continuous growth in enterprise apps, increased focus on apps specifically used for health & fitness as well as high downloads and in app purchases for gaming apps fuel the growth of the market. However, lack of high-speed connectivity in developing & undeveloped regions and uncertainty of enterprises in developing their own applications are expected to impede the market growth.

Furthermore, growth in investment in digitization and increase in adoption of internet of things technology and mobile connected smart objects are expected to present major opportunities for the expansion of the market in future. The global mobile application market is segmented based on marketplace, app category, and region.

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Based on marketplace, it is classified into apple iOS store, google play store, and other marketplaces (Microsoft, Huawei, and others). Based on app category, the market is categorized into gaming, entertainment & music, health & fitness, travel & hospitality, retail & e-commerce, education & learning and others (navigation, utilities, and news). Region wise, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.

Key benefits for stakeholders-

The study provides an in-depth analysis of the global mobile application market along with the current & future trends to elucidate the imminent investment pockets.

- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report. -

Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

- The quantitative analysis of the global mobile application market for the period 2019-2026 is provided to determine the market potential.

KEY MARKET PLAYERS - Apple Inc. - CA Technologies - Cognizant - China Mobile Ltd - Hewlett Packard Enterprise - Intellectsoft - Google LLC - International Business Machines Corporation - Microsoft Corporation - Verbat Technologies

Key market segments

By Marketplace- Apple iOS Store - Google Play Store - Other Marketplaces (Microsoft)

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By App Category- Gaming - Music & Entertainment - Health & Fitness - Travel & Hospitality - Retail & e-Commerce - Education & Learning - Others (Navigation, Utilities, and News)

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

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