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Mobile Application Market Expected to Dominate Worldwide by 2020
The mobile app report contains the global scenario of this market discussing a detailed overview and market figures. The research report analyses the industry growth rate, capacity and structure. The report analyses the historical data and forecasts the mobile app market size along with key factors driving and restraining the market growth.
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The mobile app market can be segmented into three major types, viz. applications, store type and geography. The mobile app market can be segmented on the basis of applications into eight major categories - social networking, online books, business &finance, entertainment, lifestyle, travel, navigation and others (productivity and utilities). On the basis of store type, the mobile app market can be segmented into two major categories, third party stores (managed by mobile device manufacturers, operators and operating system developers) and native stores. The mobile app market can also be segmented on the basis of major geographies such as North America, Latin America, Western Europe, Asia-Pacific, Japan, Eastern Europe, and Middle East & Africa.
The mobile app market across the globe is a multi-billiondollar market and is anticipated to exhibit a substantial growth in CAGR, from 2014 to 2020. There is a significant increase in the mobile app market because of increasing number of smartphone users and low cost of data usage. The mobile app market has a huge scope in emerging economies of Asia-Pacific regionlike China and India who are likely to leadthe mobile app market due to a growing demand formobile gaming and internet subscription.
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The key drivers of this market include proliferation of smartphones, increased mobile data subscriptions,introduction of programmes by enterprises, such as Bring-Your-Own-Device (BYOD) and deployment of MDM (mobile device management) solutions, rapid development of gaming industry, mobile advertising and low cost of data usage.. The major restraint to this market is lack of standardized business applications.
Some of the key players in the mobile app market are Apple Inc., Samsung Electronics Co. Ltd., Nokia Ovi Store, China Mobile Ltd., GetJar, Google Inc., Palm Inc., LG Mobile, Microsoft Inc., NTT DoCoMo Inc., Handmark, PocketGear, Handster Inc., Research in Motion (RIM) and Mplayit among others. Key participants in the mobile application market focus on introducing advanced, user-friendly and cost-effective applications with additional features to enhance customer experience. In addition, major players follow pre-launch strategies which include creation of social media accounts to enhance visibility and effectiveness, and application store optimization (ASO) to improve visibility of mobile apps in app stores.
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