The Global Mobile Application Market size is expected to reach $278 billion by 2026, rising at a market growth of 8.9% CAGR during the forecast period. The mobile application is basically a type of software application that is designed in such a way in order that it can run on various smartphones, tablets, smartphones, and computer tablets. Mobile applications commonly facilitate users with parallel services to those that can be accessed on PCs. The key mobile application is helpful for the users in order to connect them to internet services by aiding them to use the internet on their devices.
The mobile application market drifts mainly include a surge in the adoption of different devices and an increase in customer base in the e-commerce industry, these factors are driving the growth of the market. In addition to it, augmented focus on apps explicitly used for health & fitness, continuous rise in enterprise apps, and high downloads and in-app purchasing for gaming apps will drive the growth of the market.
The increasing Internet penetration that is resulting in data usage, mainly in developing countries like China, India, and Brazil is the major factor that boosting the growth of the market. From the past years, the Internet has appeared as one of the primary mediums of communication through several devices, such as tablets, smartphones, and laptops, among others. From the past few decades, it is observed that there has been an increase in the number of mobile application buyers due to rapid growth in the product assortment, e-commerce industry, and various discounts and offers available only on e-platforms. The accessibility of low-cost data plans given by telecom operators, which lessens the cost of mobile internet and it attracts more and more in the number of users online is an additional factor that speeds up mobile application downloads in a variety of platforms.
Due to the outbreak of COVID-19, it is seen that the gaming, social media, and entertainment-based applications had the utmost number of downloads than other applications. Also, the demand for healthcare, e-commerce, and educational applications has also shown strong growth. Due to the shift to remote learning, educational apps have provided lucrative growth opportunities to numerous tech companies, and online portals like Zoom, Google Classroom, and Microsoft Teams.
Based on Store Type, the market is segmented into Apple, Android and Others. Based on Application, the market is segmented into Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-commerce and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 153.6 Billion |
| Market size forecast in 2026 | USD 278 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 8.9% from 2020 to 2026 |
| Number of Pages | 200 |
| Number of Tables | 294 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competition Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Store Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Mobile Application Market to reach a market size of $278 Billion by 2026
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Google, Inc., Apple, Inc., and Microsoft Corporation are the forerunners in the Mobile Application Market. Companies such as IBM Corporation, Broadcom, Inc., Hewlett Packard Enterprise Company, Cognizant Technology Solutions Corporation, and Netflix, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, Inc., Apple, Inc., Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, Cognizant Technology Solutions Corporation, Netflix, Inc., Broadcom, Inc. (CA Technologies, Inc.), Intellectsoft LLC, and Verbat Technologies LLC.
» Partnerships, Collaborations, and Agreements:
» Acquisition and Mergers:
» Product Launches and Product Expansions:
Market Segmentation:
By Store Type
By Application
By Geography
Companies Profiled
The global mobile application market size is expected to reach $278 billion by 2026.
Yes, Due to the outbreak of COVID-19, it is seen that the gaming, social media, and entertainment-based applications had the utmost number of downloads than other applications.
The major factors that are anticipated to drive the mobile application industry include increase in internet penetration and data usage.
The gaming segment has held the largest share of revenue in the year 2019.
The North America has led the market in the year 2019.
The expected CAGR of mobile application market is 8.9% from 2020 to 2026.
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