The mobile apps gain importance at a global level due to their ease of use and user-friendly interface. As these apps provide the specific information required by the user, these apps become the basic need of anyone using the personal portable devices such as smartphones, tablets, or laptops.
The global mobile application market is segmented on the basis of marketplace, app category, and geography. Based on marketplace, it is classified into Google play store, Apple app store, and others (Blackberry OS app store and Windows app store). By app categories, it is divided into gaming, music & entertainment, health & fitness, travel & hospitality, e-Commerce & retail, education & learning, and others (news and media, magazines, whether forecast, food and beverages, and utilities). The regional market is further analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global mobile application market accounted for $108,440 million in 2016, and is expected to grow at a CAGR of 19.2% to reach $311,249 million by 2023. Continuous increase in the mobile users and the growth of unique subscriber base in the telecom industry drives the market growth for the global mobile application market during the forecast period. The attacks and threats to cyber security is expected to be restraint the market as the wide spread internet connectivity sometimes exposes the user information while installing the apps as well as using them, creating a potential threat to the personal and confidential information.
The U.S. and China are the leading countries in the mobile app industry. At present North America leads the mobile app market. In the coming years, China is expected to surpass the U.S. market for mobile app; thus boosting the market in Asia-Pacific.
Key players profiled in the mobile app market are IBM Corporation, Google, Inc. Apple, Inc., Microsoft Corporation, BlackBerry Ltd., Fueled, LeewayHertz, Adept Business Solutions, Burgan National Information Systems Co., and Verbat Technologies. The report discusses the key strategies adopted by these companies with the mobile application market trends, upcoming opportunities, and restraints in the market growth, and detailed information about their impacts.
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