Market Highlights
With the use of smartphones growing, users are becoming more dependent on them triggering a hike in the demand for more mobile applications, along with the requirement to develop more such applications. Market Research Future (MRFR) has published a research report about the global mobile app development market that envisions prosperity for this market at 14% CAGR during the forecast period between 2016 and 2022. By value, the market has been figured to be worth the USD 100 BN by the end of the forecast period.
Monitoring the market structure, this report menstruates the future growth potential of the market. It chalks the strategies of key players in the market and aids the competitive developments like new product developments, mergers & acquisitions, joint ventures, and research & developments (R&D) in the market.
The exigent market driving factors for the global mobile app development market are increasing market for smartphones or tablets. The increasing competition between market players and the demand for high-quality application testing are also boosting the market growth. Many companies are investing in R&D to come up with new solutions for consumers. Innovations in the mobile industry are also the reasons for the mobile applications upgrade. Other factors helping the market growth include the adoption of new technologies, changing lifestyle, government funding towards secured centrally connected systems, surging use of mobile devices, growing adoption by corporates to simplify their daily tasks, increasing adoption of machine learning (ML), addition of machine learning into the mobile applications and lastly, increase in web-based applications.
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Segmentation:
The global mobile app development market segmentation covers application and platform. MRFR is exploring the features of these segments.
According to the application-based segmentation, this market covers airlines, banking, e-commerce, education, entertainment, government agencies, retail, social networking, and others. Based on the platform, this market has been segmented into iOS and Android.
Regional Analysis:
The regional segmentation of the global mobile app development market covers North America, Asia Pacific, Europe, and the Middle East & Africa (MEA).
North America is dominating the global market due to the high market penetration of iOS devices and the presence of major information technology (IT) companies in the USA. Therefore, by the end of the forecast period, North America can have the highest market. After North America, Canada is another important country-specific market.
In Europe, the market is growing primarily due to technological advancement. The maximum revenue comes from France, Germany, Italy, Spain, and the UK forms the crux of market revenue in this region. Other countries in Europe also contribute to market growth to some extent.
In the Asia Pacific region, the market can grow during the forecast period due to the rising IT industry in India and China. Due to the technological advancement, Japan and South Korea emerged as two major country-specific markets in this region. Other countries of the Asia Pacific region also contribute the revenue to the market. In the MEA region, the market growth is slow due to limited availability of technology.
Key Players
Major players in the global mobile app development market include Amazon Inc. (USA), Apple Inc. (USA), Facebook Inc. (USA), Google Inc. (USA), IBM Corporation (USA), Infosys Ltd. (India), Kony Inc. (USA), Microsoft Corporation (USA), Verivo Software Inc. (USA), and Wipro Corporation (India).
Latest Industry News
- Exadel's low-code application development platform Appery.io has been upgraded. With the new upgrade, Appery.io can integrate with Ionic 4 open-source, cross-platform framework. The Ionic 4 integration will make Appery.io easier to manage and improve overall performance. 19 JUNE 2019
- AppOnboard is the new owner of Buildbox, a platform that enables mobile app developers to develop mobile games without any knowledge of coding. 13 JUNE 2019
- Hong Kong-based MTR Corp that is the sole rail operator in the country, has released an updated version of their mobile app. The update is introducing many new features and functions that can help passengers plan and undertake their trips smoothly. 12 JUNE 2019
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List of Figures
Figure 1 Research Process
Figure 2 Drivers Of Global Mobile Application Development Market
Figure 3 Global Mobile Application Development Market: By Platform (%)
Figure 4 Global Mobile Application Development Market: By Application (%)
Figure 5 Global Mobile Application Development Market Share By Region (2016 & 2022) (%)
Figure 6 North America Mobile Application Development Market, By Platform (%)
Figure 7 North America Mobile Application Development Market, By Application (%)
Figure 8 North America Mobile Application Development Market Share By Country (2016 & 2022) (%)
Figure 9 Europe Mobile Application Development Market, By Platform (%)
Figure 10 Europe Mobile Application Development Market, By Application (%)
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