The mobile market has grown at an unprecedented rate lately. With an extensive adoption of mobile devices and business taking the mobile route to match the modern flow in the tech domain, the usage of mobile apps has grown significantly. Mobile app economy has witnessed an up graph in both emerging as well as mature markets and is anticipated to double in the coming five years.
App Annie, the trusted mobile data insights platform has taken a dig at researching and analyzing the floating data into meaningful insights for the world to get aware of how gross the mobile app market really is along with a comprehensive forecast of the app economy. Mobile app development companies will be looking at this data very closely, drafting plans and roadmap to stay ahead of the competition.
Tapping almost every industry from real estate to social networking, from food & restaurant to banking, from finance & insurance to education, from ecommerce, retail to travel, from gaming to events and anything that you can think of, the mobile world is huge. Mobile app economy constitutes the entire world, thanks to app development companies that have invested resources, skills and money in this ongoing evolution every day.
Research firms identify current trends, analyze stats and give a picture of the future global mobile app economy. Let’s view the same in the following section.
- The mobile app industry has pulled in a variety of domains in the recent past. As per a report by App Annie, the global app economy will be twice by 2020 then it’s now.
- According to the same report, the gaming industry is likely to touch $74.6 billion and the gross revenue will spur to $101 billion by the end of 2020.
- Business houses that are making a swift move towards mobile app development and streamlining their existing procedures accordingly will play a major role in the global app economy in the coming years.
- Smartphone demand is on the rise, which indicates a clear rise in the mobile app usage and revenue.
- In 2016, around 1.5 billion smartphones were sold to end users, a rise of 5% from the last year.
- The world of connected devices is expected to contribute massively to app economy as the web of devices is getting strong day after day. It is estimated that the number of devices connected to the Internet will go up to 20 billion by 2020.
- The four big app economy countries include China, US, Brazil and India in the same order from the top. According to a study, only 7% users owning a smartphone use browsers while the rest 93% use apps for the same tasks.
- The total number of app downloads will go up to 284 billion by 2020 globally reflecting a considerable rise in the economy overall.
Final thoughts
Emerging markets have a major role to play in lifting the global app revenue and economy. The potential is immense in countries like India and China where the use of smartphones is increasing like no other region.
Android, being the favored operating system here will act as a leader in taking the revenues up. People in these regions are inclined towards budget options and amazing features offered by Android-powered smartphones that will make the majority of the earnings for the business houses.
If the curve keeps elevating like it is now then predicting revenues will be tough for the analysts and new bars will be set year on year. This enormous rise in the number of users will positively affect the global app economy, changing things for the good.
Mobile is the future and the app industry will soon disrupt the technology space. If you are a business owner who is yet to discover the capabilities and opportunities of the mobile market, then it’s probably high time to consider and get in touch with an experienced app development company.
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