ALBANY, N.Y., Sept. 10, 2020 /PRNewswire/ — : A compound annual growth rate of about 20% is set to be charted over the period of 2020 to 2030, taking the market worth up to ~USD 717 billion by the year 2030 from about USD 113.8 billion in the year 2020. While a number of trends and drivers are propelling growth in the mobile applications market, some of the prominent ones include growing adoption of android phones and technological advancement.
As per Transparency Market Research, “E-learning mobile applications are witnessing notable increase in demand, with several million downloads observed over the past few months, amid the raging pandemic. Social media algorithms are supporting e-learning too. This is set to drive the global mobile applications market forward over the aforementioned period and will also create new growth opportunities for players.”
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Key Findings of Global Mobile Applications Market Study:
- Over the forecast period, it is anticipated that fantasy sports apps will witness large number of takers as people under strict lockdowns look for other entertainment channels
- Fantasy sports apps are attractive to a large number of people looking for high-end video gaming experience
- Increase in research and development (R&D) activities is being noted in the mobile applications domain, promising growth to the market in the future
For a detailed analysis of global mobile applications market by operating system, type, and region, visit at https://www.transparencymarketresearch.com/mobile-applications-market.html
Key Drivers of Growth in Global Mobile Applications Market:
- Increase in disposable income is leading to increase in demand for smart devices and that is set to contribute notably to the global mobile applications market
- Technological advancement has led to greater affordability of smart phones and that is also contributing to market growth
- Improvement in internet access even in remote areas is paving way for growth in the market over the forecast period
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Regional Analysis of Global Mobile Applications Market:
- Notable CAGR will be recorded by North American region from 2020 to 2030 and the growth rate will be followed by that of Europe’s
- Presence of prominent market players in the region and extensive research and development (R&D) activities are helping North America chart notable growth
- COVID-19 pandemic is driving people towards higher use of mobile apps and this is a notable growth factor in the market
Analyze global mobile applications market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Mobile Applications market:
The global mobile applications market is a competitive vendor landscape with a large number of players deploying varied strategies for growth. Some of the key players include Amazon.com Inc., Apple Inc., Broadcom Inc. (CA Technologies), China Mobile Ltd., Cognizant Technology Solutions Corporation, Gameloft SE, Google LLC, Hewlett Packard Enterprise, Intellectsoft LLC, IBM Corporation, Microsoft Corporation, Nokia Corporation, QBurst, Softeq Development Corporation, Sourcebits, Inc., Verbat Technologies, WillowTree Apps Inc, and Y Media Labs Inc.
These players are comprehensively profiled in the market report prepared by Transparency Market Research. It also notes that top players are opting for mergers and acquisitions and strategic and synergistic collaborations to consolidate their position in the market. In 2020, Google acquired AppSheet, and Mobilerlron Inc. acquired incapptic Connect GmbH. Other strategies include product development with high focus on technology and innovation.
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Global Mobile Application Market: Segmentation
Mobile Application Market, by Operating System
Mobile Application Market, by Type
- Business & Enterprise
- Social Networking
- Entertainment & Music
- Health & Fitness
- Retail & e-Commerce
- Video & Photo
- Travel & Hospitality
- Others (News, Sports)
Mobile Application Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Rest of South America
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