Press release
Mobile Application Market Demand, Analysis, Size, Share And Forecast Report 2024 To 2033
Mobile Application Market
Market Size And Growth Forecast:
The mobile application market size has grown rapidly in recent years. It will grow from $242.33 billion in 2023 to $277.02 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to smartphone proliferation, app store launches, mobile internet expansion, operating system evolution, user engagement strategies.
The mobile application market size is expected to see rapid growth in the next few years. It will grow to $469.83 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to 5g technology integration, augmented reality (ar) and virtual reality (vr), emergence of wearables, artificial intelligence (ai) integration, rise of mobile commerce (mcommerce). Major trends in the forecast period include enhanced personalization, 5g technology integration, cross-platform compatibility, focus on mobile security, health and wellness features.
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Market Segmentation:
The mobile application market covered in this report is segmented -
1) By Type: Google Play Store, Apple App Store, Other Types
2 )By Operating System: Android, iOS, Other Operating Systems
3) By Application: Gaming, Music And Entertainment, Health And Fitness, Social Networking, Retail And E-Commerce, Other Applications
Major Driver - Synergistic Impact Of Wearable Devices On The Mobile Application Market
The adoption of wearable devices is expected to propel the growth of the mobile application market going forward. Wearable devices refer to electronic gadgets or technology that can be worn on the body, typically as accessories or embedded into clothing. Mobile applications are used in wearable devices to bridge between the sensors and processors inside the wearable and the information displayed to the user, enabling a wide range of uses such as data visualization and analysis. For instance, in October 2023, according to the International Data Corporation, a US-based corporation, global shipments of wearables increased for 492,247,834 in 2022 to 519,839,947 in 2023 and they are estimated to reach 625,399,055 by 2027. Therefore, the adoption of wearable devices is driving the growth of the mobile application market.
Competitive Landscape:
Major companies operating in the mobile application market report are Amazon.com Inc., Apple Inc., Alphabet Inc., China Mobile Limited, IBM Corporation, Broadcom Inc., Netflix Inc., Hewlett Packard Enterprise, Cognizant Technology Solutions Corporation, Ubisoft Inc., BlackBerry Ltd., Gameloft SE, LeewayHertz, Algoworks Technologies Private Limited, Verbat Technologies LLC, Verbat Technologies, CodigoDelSur, Mercury Development LLC, Intellectsoft LLC, Sidebench, NineHertz India Pvt. Ltd., KitelyTech, Goji Labs, RevenueCat, Adept Business Solutions FZE, Toobler Technologies Pvt. Ltd., Amber Group, Zazz, Orangesoft, Appetiser
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