Press release
Mobile Application Market Report 2024: Strategies And Recent Developments | Amazon.com Inc., Apple Inc., Alphabet Inc., China Mobile Limited, IBM Corporation, Broadcom Inc., Netflix Inc
Mobile Application Market Characteristics
The Business Research Company offers in-depth market insights through Mobile Application Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
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 main mobile application types are google play store, apple app store, and others. Google Play Store is an official app store for Android devices, managed by Google. It included different operating systems such as android, ios, and others which are used in gaming, music and entertainment, health and fitness, social networking, retail and e-commerce, and others.
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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Top Trend - Flash Platform Reshapes The Landscape In The Mobile Application Market
Major companies operating in the mobile application market are focusing on innovative launches such as the Flash platform to increase their profitability in the market. The Flash Platform is a platform for multimedia software that can be used to create embedded web browser video players, desktop apps, mobile games, mobile apps, and animations. For instance, in December 2023, Shadowfax, India-based e-commerce, hyper-local, and on-demand delivery solutions company launched its Flash app. It promises a 30-minute delivery time and is made to meet urgent delivery needs within cities. Using cutting-edge GPS technology, it ensures transparency and improves the customer experience by providing customers with real-time tracking of their deliveries. About last-mile delivery solutions, the app seeks to redefine the parameters for dependability, speed, and cost-effectiveness. With an emphasis on dependability and speed, Flash has been presented as a complete and effective on-demand logistics solution. It is set up to take on rival on-demand delivery services in the industry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mobile Application Market Characteristics
3. Mobile Application Market Trends And Strategies
4. Mobile Application Market - Macro Economic Scenario
5. Mobile Application Market Size And Growth
…..
27. Mobile Application Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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