According to the report, global demand for mobile application was valued at USD 17.24 billion in 2014, and is expected to reach USD 52.96 billion in 2020, growing at a CAGR of 16% between 2015 and 2020. Zion Market Research has published a new report titled “Mobile Application Market by Store Type (Native (On-deck) and Third-party (Off-deck)) for Games and Entertainment, Social Networking, Productivity, Music Audio & Lifestyle, Travel & Navigation and Other Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014 – 2020”
The mobile application deals with the development of computer program which is designed to run on mobile devices such as smartphones and tablet computers. This technology became a necessary part of everyday life due to the growing need and rapid adoption of smartphones. The mobile apps are very easy to download on smartphones using the internet. Google Play Store (Android), Apple App Store, and Windows Phone Store are some popular distribution platforms from which mobile applications can get downloaded. Speed, the volume of information, and advertising are some advantages of advancement in mobile applications.
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Nowadays, mobile applications are being very popular due to its number of advantages and widespread adoption of smartphones. This is the major driving factor of mobile application market. High demand for mobile apps in gaming application is expected to boost the mobile application market. Mobile applications help users to connect them to internet services more commonly and this is the most convenient way of using internet due to which the demand of mobile apps increases which have positive effects on market growth. However, the mobile applications market might be affected due to some privacy & security issues and benefits offered by mobile websites.
The global mobile application market is segmented on the basis of store and application. Based on store types, the market is segmented as native (on-deck) and third-party (off-deck). Native mobile apps usually stand in contrast to software applications that run on desktop computers and on the mobile device using mobile apps.
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Games and entertainment, social networking, productivity, music audio & lifestyle, travel & navigation and other application are the key applications involved in the mobile application market. Games and entertainment was the largest segment of global mobile application market and accounted for more than 40% share of the entire market in 2014. The reason behind this dominance is the highest numbers of downloads by users and demand for mobile entertainment apps such as online music, online games, picture editor etc.
North America was the dominating region in the global market of mobile application and accounted for over 34% share of the total market in 2014. It also expected to continue this development by the end of 2020 due to the rising access of different handheld smart devices. North America is followed by Asia Pacific due to the high population which will enhance the penetration of smartphones in this region.
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Some of the key player for global mobile application market includes Apple, Samsung Electronics Co., Ltd., LG Mobile, Microsoft, Inc., China Mobile Ltd., Google Inc., Handmark, Handster Inc, Palm, Inc, Pocketgear, Research In Motion, Mplayit and Nokia Ovi Store.