“Global Progressive Web Apps Market to reach a market value of 10.1 Billion by 2031 growing at a CAGR of 30.2%”
The Global Progressive Web Apps Market size is expected to reach $10.1 billion by 2031, rising at a market growth of 30.2% CAGR during the forecast period.
PWAs enable developers to generate a single codebase compatible with various devices, including desktop, tablet, and mobile. This unification simplifies the development process and reduces the time and resources needed to build and maintain separate apps for different operating systems. With cross-platform PWAs, businesses can ensure a consistent user experience across various devices and platforms. Thus, the Platform Segment captured a $719.49 Million revenue in 2023.
PWAs offer a seamless, app-like experience within a web browser. They provide fast load times, smooth interactions, and offline capabilities, which enhance user satisfaction and engagement. As businesses prioritize delivering superior UX to retain and attract users, the demand for PWAs rises. PWAs are designed to be highly responsive and efficient, with features such as caching and background sync. In conclusion, the growing emphasis on user experience drives the market's growth.
Additionally, as mobile device usage continues to rise, users increasingly expect applications to be accessible and functional on their smartphones and tablets. PWAs meet this demand by offering an app-like experience directly through web browsers on mobile devices without requiring separate installations. The transition to mobile-first strategies in web development evidence the increasing significance of accommodating mobile users. In conclusion, increased mobile device usage worldwide is driving the market's growth.
PWAs might struggle with offline functionality in applications that require real-time or large amounts of data processing. For instance, apps that handle extensive multimedia content or complex data analytics may not perform well without a stable internet connection, limiting their effectiveness in offline modes. While PWAs offer basic offline functionality, they can face limitations in more complex offline scenarios. In conclusion, limited offline capabilities in certain scenarios impede market growth.
By application, the progressive web apps market is divided into e-commerce and retail, media and entertainment, social media, travel & tourism, healthcare, education, banking & financial platform, and other application. In 2023, the banking and financial platform segment attained 16% revenue share in the progressive web apps market. PWAs are served over HTTPS, ensuring encrypted and secure communication between users and financial institutions. This is crucial for banking and financial services, which handle sensitive personal and financial information.
Based on component, the progressive web apps market is divided into platform and services. In 2023, the services segment procured 44% revenue share in the progressive web apps market. Businesses are increasingly seeking customized PWA solutions that cater specifically to their needs. This includes tailored development services, unique feature integration, and bespoke designs that align with their brand and user experience goals.
On the basis of organization size, the progressive web apps market is segmented into small & medium enterprises and large enterprises. In 2023, the small & medium enterprises segment acquired 44% revenue share in the progressive web apps market. PWAs provide a more cost-effective alternative to developing and maintaining individual native applications for various platforms. SMEs, which often have limited budgets, find PWAs a cost-effective way to provide a high-quality app experience without the significant expense associated with traditional app development.
Free Valuable Insights: Global Progressive Web Apps Market size to reach USD 10.1 Billion by 2031
Region-wise, the progressive web apps market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 29% revenue share in the progressive web apps market. Many countries in the Asia Pacific region have high mobile internet usage and limited desktop access. PWAs offer a mobile-friendly experience with fast performance and offline capabilities, making them ideal for a predominantly mobile-first user base.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.3 Billion |
| Market size forecast in 2031 | USD 10.1 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 30.2% from 2024 to 2031 |
| Number of Pages | 265 |
| Tables | 470 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Organization Size, Application, Component, Region |
| Country scope |
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| Companies Included | Google LLC, Microsoft Corporation, IBM Corporation, Meta Platforms, Inc., OutSystems- Software em Rede, S.A., Cloud Four, Inc., GoodBarber, DockYard Inc., Enonic AS, and Alokai Sp. z o.o. |
By Organization Size
By Application
By Component
By Geography
This Market size is expected to reach $10.1 billion by 2031.
Growing Emphasis On User Experience are driving the Market in coming years, however, Complexity In Handling Multiple Platforms restraints the growth of the Market.
Google LLC, Microsoft Corporation, IBM Corporation, Meta Platforms, Inc., OutSystems- Software em Rede, S.A., Cloud Four, Inc., GoodBarber, DockYard Inc., Enonic AS, and Alokai Sp. z o.o.
The expected CAGR of this Market is 30.2% from 2024 to 2031.
The Social Media Segment led the Market by Application in 2023; thereby, achieving a market value of $1.9 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.4 Billion by 2031.
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