The global mobile app development market is likely to expand at 14 % CAGR during the forecast period (2016-2022) owing to the market penetration of smartphones, asserts Market Research Future (MRFR). Mobile applications are software which runs on tablets, smartphones, and other devices like home automation devices and internet TV. Android and IOS are the two major platforms for which the mobile apps are developed by the developers. The mobile applications are gaining importance over the years due to their user-friendly nature and ease of use.
The Global Mobile Application Development Market is driven by the adoption of new technologies, changing lifestyle and growing adoption by corporates to simplify their daily tasks. Furthermore, the increasing adoption of machine learning and the addition of machine learning into the mobile applications is also responsible for the growth of mobile application development market. The Mobile Application Development market is highly competitive due to the increase in web based applications and Government funding towards secured centrally connected systems.
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Major Key Players
- Facebook, Inc. (U.S.),
- Google, Inc. (U.S.),
- Microsoft Corporation (U.S.),
- IBM corporation (U.S.),
- Apple, Inc. (U.S.),
- Amazon, Inc. (U.S.),
- Kony, Inc. (U.S.),
- Verivo software, Inc. (U.S.),
- Infosys, Ltd. (India),
- Wipro Corporation (India)
Globally the Industry for Mobile Application Development market is expected to grow at the rate of more than ~14% from 2016 to 2022.
September 25, 2018: Salesforce is all set to redesign its iOS app as part of its strategic partnership which will offer new tools for Salesforce developers, including its first mobile SDK, and developer training to build native apps. The company has planned to redesign its app in early 2019 to take advantage of new features for iOS 12.
The Mobile Application Development Market can be segmented in to 3 key dynamics:
Segmentation by Platform: Comprises IOS, and Android
Segmentation by Application: Comprises Entertainment (Gaming and media), banking, retail, airlines, e-commerce, education, government agencies and social networking among others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia-Pacific and Rest of the World.
According to the report, In APAC region growing technological advancement and high adoption of smartphones and tablets is raising Mobile Application Development market in the region. Further, the report states lack of technical expertise is a challenge to the market growth.
North-America is dominating the Global Mobile Application Development Market with the largest market share and is expected to grow over its previous growth records by 2022. This is due to the increasing adoption of new solutions, changing lifestyle and increasing consumer preference for smartphones. Mobile Application Development Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2022 due to rapid technological advancements and China being the manufacturing hub. The European market for Mobile Application Development Market is expected to grow at a considerable CAGR (2016-2022). This is due to rise in IT technology and growing population which is increasing the demand for smartphones and tablets in the region.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Mobile application providers
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
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