Mobile App Development market, it is estimated to increase at the rate of more than 23.80% from 2020 to the end of the year 2030
Mobile
apps are software applications designed for operating in mobile devices such as
smartphones, laptops, etc. The global mobile app development market is likely to witness
significant growth in the upcoming years, asserts Market Research Future
(MRFR). According to MRFR, the global market is set to value at around USD 366.93
Bn by 2030, reflecting a CAGR of 23.80% across the review period 2022 to 2030.
Increasing
use of smartphones and other gadgets such as tablets, smartwatches, laptops,
etc. is observed to support the growth trajectory of the mobile app development
market in the years to come. E-commerce websites and social media platforms are
leveraging mobile applications to attract a larger customer base. This, in
turn, is poised to expedite the expansion of the market in the nearby future.
The declining cost of data services, coupled with rising penetration of
internet, is further anticipated to intensify the growth pace of the mobile app
development market in the upcoming years.
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Competitive
Dashboard:
Facebook,
Inc. (U.S.), Microsoft Corporation
(U.S.), Infosys, Ltd. (India), Google, Inc. (U.S.), IBM Corporation (U.S.),
Amazon, Inc. (U.S.), Kony, Inc. (U.S.), Apple, Inc. (U.S.), Verivo Software,
Inc. (U.S.), and Wipro Corporation
(India) are few of the noteworthy players of the global mobile app development
market studied in this MRFR report.The participants of the global market are
presumed to invest in technological advancements for gaining a competitive edge
over others. It is likely to infuse healthy competition among the market
players. In addition, the increasing availability of growth opportunities in
the mobile app development market is anticipated to new players in the years to
come. Mergers & acquisitions, product portfolio development, partnerships,
collaborations with end-users, agreements, etc. are some of the approaches to
be witnessed in the global mobile app development market over the next couple
of years.
Regional
Analysis:
The
geographical assessment of the global mobile app development market is covered
in this MRFR report on a regional as well as country-level basis. The major
regions identified in this study are - Europe, North America, Asia Pacific
(APAC), and the Rest of the World (ROW). Among these, the market in North
America is estimated to earn highest revenues over the next couple of years.
One of the primary driving factors of the mobile app development market in the
region is the rising penetration of iOS devices. In addition, the presence of
an advanced IT industry is also projected to boost the growth rate of the
mobile app development market in the region in the years to come. The key
players based out of the region are also assessed to contribute substantially to
the growth of the mobile app development market in the forthcoming years.
Asia
Pacific is poised to strike a relatively higher CAGR during the projection
period. The growth of the IT industry in developing economies such as India,
Indonesia, China, etc. are set to lead market growth in the region. In
addition, the rising penetration of smartphones and internet services are
further expected to boost the development of the mobile app development market
in the region.
Segmentation:
On the
basis of platform, the global mobile app development market has been segmented
into iOS and Android.
The
mobile app development market, based on application, has been segmented into
entertainment (gaming and media), banking, e-commerce, education, retail,
airlines, government agencies, social networking, and others.
Latest
Industry News:
In
September 2019, Reserve Bank of India has announced that it will launch a
mobile app for the visually impaired people. The app will help these people in
identifying the value of currencies.
In
August 2019, a blockchain-based startup based out of Germany, Bitwala, launched
its bitcoin banking smartphone application for both Android and iOS.
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Read More:
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https://www.tumblr.com/jaymrfr/704873158142050304/retail-automation-market-is-projected-to-reach
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