Mobile Application Market Headed for Growth and Global Expansion by 2023

Market Highlights:

Technological advancement is aiding the development of compact electronic devices such as smartphones and increasing the reliance on cloud-based solutions. mobile applications are potable software that can be run on the mobile phones or other portable devices. Market Research Future (MRFR) has published a report stating that the global mobile application market is anticipated to expand significantly at a CAGR of 14% during the forecast period of 2017-2023 and reach the market valuation of USD 165 Bn by the end of 2023.

The mobile application is one of the fastest growing market and will continue to grow at a significant rate majorly due to increased penetration of smartphones and internet. The drivers that drive the market for mobile applications is the increased application of augmented reality and Virtual Reality. The smartphones at present are enabling the sensors like gyroscope, accelerometers and motion sensors in the smartphones and tablets to ensure the capability of AR & VR on the mobile phone through various apps. Games like ‘Pokémon Go’ follow this lead. This has also been affected by the IOT dominance majorly in smart homes. All the lighting, temperature, music and security controls are handled by the mobile applications connected via Wi-Fi or Bluetooth.

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Major Key Players

• Willow Tree, Inc (U.S.),


• Google Inc (U.S.),


• Nokia Corporation (Finland),


• Amazon Inc (U.S.),


• Intellectsoft US (U.S.),


• Microsoft Corporation, (U.S.)


• Y Media Labs (U.S.),


• Appster (Australia),


• Gameloft SE (France),


• Konstant Infosolutions (India).

The market for Mobile application is growing at a significant rate and includes many new entrants in the mobile app development market majorly in Smartphones & tablets under the gaming category with the increase in AR & VR advancements.

According to MRFR, The Mobile Application Market is expected to reach approximately USD 165 billion by the end of 2023 with approximately 14% CAGR during the forecasted period from 2017 – 2023.

Market Drivers:

Increasing penetration and user-base of smartphones all over the world is one of the major factors that are driving the global mobile application market. With the incorporation of artificial intelligence, the demand for optimized mobile applications has increased significantly, leading to the expansion of the global mobile application market. With the advent of web-apps and conversion of conventional website-based e-commerce services into mobile applications, the popularity of mobile applications has increased, leading to the expansion of the global mobile application market. Inclination of various sectors towards operating through a mobile application in order to create ease in functionality and improve the reachability are some of the major factors that are propelling the growth of the global mobile applications market. Rise in internet penetration and increasing LTE adoption are impacting positively on the growth of the global mobile application market during the assessment period.

Market Segmentation:

The global mobile application market has been segmented on the basis of categories, platform and end-user. Based on categories, the mobile application market has been segmented into gaming and non-gaming. The non-gaming segment is sub-segmented into productivity, entertainment, social media, browser, and others. Based on platform, the mobile application market has been segmented into iOS, android and windows. Based on end-users, the mobile application market has been segmented into banking, retail, airlines, media, education, transport, hotels and restaurants, government and others.

Regional Analysis:

Geographically, the global mobile application market has been segmented into four regions such as North America, Europe, Asia Pacific and the rest of the world. The Asia Pacific region is anticipated to constitute for a substantial share in the global mobile application market owing to the high penetration of smartphones in the emerging economies of this region and high demand for mobile application-based solutions in various industrial sectors in this region. The North America region is expanding at a significant rate in the global mobile application market owing to the easy adoption of advanced technology in this region. The Europe region is projecting notable growth in the global mobile application market owing to the high demand for mobile-based applications in this region.

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Intended Audience

• Device manufacturers


• App store providers


• Games developers


• Mobile phone distributors


• Mobile App developers


• Research firms


• Software investors


• Software Developers


• IT enablers


• Government agencies

LIST OF TABLES

TABLE 1 MOBILE APPLICATION MARKET, BY CATEGORY

TABLE 2 MOBILE APPLICATION MARKET, BY PLATFORM

TABLE 3 MOBILE APPLICATION MARKET, BY END – USER

TABLE 4 MOBILE APPLICATION MARKET, BY REGION

TABLE 5 NORTH AMERICA MOBILE APPLICATION MARKET, BY CATEGORY

TABLE 6 NORTH AMERICA MOBILE APPLICATION MARKET, BY PLATFORM

TABLE 7 NORTH AMERICA MOBILE APPLICATION MARKET, BY END - USER

TABLE 8 U.S. MOBILE APPLICATION MARKET, BY CATEGORY

TABLE 9 U.S. MOBILE APPLICATION MARKET, BY PLATFORM

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