GMI Research analysis indicates that the Mobile Application Market is slated to register a CAGR of 9.1% over the forecast period from 2022 to 2029.

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Key Drivers

The demand for mobile applications is projected to grow in the upcoming years, primarily because of the increasing adoption of advanced technologies such as machine learning and artificial intelligence in mobile applications, rising mobile app users, and innovations in networking technology. In addition, rapid digitalization, increasing adoption of IoT, and mobile connected smart objects will bring enormous opportunities for the market. Availability of cheaper data plans from telecom vendors has reduced the cost of mobile internet, thereby, attracting more users online, which is another factor accelerating mobile application market size.

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Categories Segment Analysis

Gaming application is anticipated to dominate the market over the forecast period, due to the rising number of gaming applications across emerging markets and an exponential increase in gaming population. A survey highlighted that because of the increasing prominence of mobile gaming, nearly 5 to 10% of gamers are ready to pay for game applications, which will be a double-digit increase from 2018. Games like Candy Crush Saga, Pokémon GO, and Clash of Clans are mobile gaming applications with maximum earning through in-app purchases than any other revenue channel.

Lifestyle segment is forecast to hold a larger share over the upcoming years, owing to their ability to save individuals time by helping them to effectively perform daily activities.

Component Segment Analysis

Native mobile application is predicted to grow at a higher CAGR during the forecast period, owing to their ability to directly communicate with operating systems and add more functionalities when needed. Native applications offer high-quality performance as they have direct access to the core features of platform and hardware, contributing to the segment’s growth.

On the basis of the business model, the market is segmented into native mobile application store, and third-party app store. Among these, native mobile application store is expected to witness higher CAGR during the forecast period as the segment consist of app stores such as android and iOS, which are gaining more traction among public across the world. Moreover, such applications allow individuals to install and uninstall applications of their choice without any hindrance.

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Regional Segment Analysis

North America is estimated to dominate the market over the upcoming years, owing to the increasing smartphone penetration, huge in-app capital expenditure, and a higher number of mobile application downloads. Further, in increasing technological innovations, growing adoption of smart devices, strong presence of leading market players and the investments in the R&D projects will catalyze the Mobile Application Market Share.

Asia Pacific is predicted to grow at a higher CAGR over the coming years, due to the networking developments and cheaper mobile data usage pack. In addition, increasing adoption of internet, strategic government initiatives such as Digital India, and rising disposable income are expected to propel the regional growth.

The major players operating in the market include Apple Inc, Google LLC, Microsoft Corporation, China Mobile Ltd, Spigot Inc, (Getjar), Handster Inc, LG Electronics, Palm Inc, Nokia Corporation, and Samsung Electronics Co. Ltd.

Key Developments:

• • In 2019, Apple Inc, partnered with Salesforce.com Inc, and launched a redesigned Salesforce Mobile App and learning app, named as Trailhead Goon Apple iOS and iPadOS.
  • In 2019, Microsoft Corporation acquired Mover, a provider of cloud file migration. With this acquisition, Mover provided seamless file collaboration across Microsoft 365 apps and services, which includes Microsoft Teams and Office Apps.
  • In 2020, Incapptic Connect GmbH, a mobile app developer, acquired MobileIron Inc., to establish and deploy safe mobile business apps
  • In January 2020, Google LLC acquired AppSheet, a vendor of a no-code development platform for application software
  • In 2019, Apple Inc, partnered with Salesforce.com Inc to innovate a redesigned Salesforce Mobile App and learning app, known as Trailhead Goon Apple iOS and iPadOS.
  • In 2019, Microsoft Corporation acquired Mover, a vendor of cloud file migration. This acquisition helped Mover offer a seamless file collaboration across Microsoft 365 apps and services, which includes Microsoft Teams and Office Apps.

The global mobile application market has been segmented on the basis of categories, business model, market participants, and region. Based on categories, the market is segmented into game applications, social networking applications, books, entertainment, business & finance, lifestyle, productivity travel, navigation, utility, and others. Based on business model, the market is segmented into native mobile application store, and third-party app store. Based on market participants, the market is segmented into OS/handset manufacturers, application developers, and operators.

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Key questions answered in this research report:

• • At what pace is global mobile application market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in mobile application market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global mobile application market?
  • Which category generated maximum revenues in 2021 and identify the most promising products during the forecast period?
  • What are the various application stores areas of global mobile application market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Mobile Application Market by Categories

• • Games
  • Social Networking
  • Books
  • Entertainment
  • Business and Finance
  • Lifestyle
  • Productivity
  • Travel
  • Navigation
  • Utilities
  • Others

Global Mobile Application Market by Business model (store):

• • Native or on deck
  • Third party or off deck

Global Mobile Application Market by Participants

• • OS/handset manufacturers
  • Application developers
  • Operators

Global Mobile Application Market by Region

• • North America Mobile Application Market (Option 1: As a part of the free 25% customization)
    • By Categories
    • By Business Model
    • By Participants
    • US Market All-Up
    • Canada Market All-Up
  • Europe Mobile Application Market (Option 2: As a part of the free 25% customization)
    • By Categories
    • By Business Model
    • By Participants
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Mobile Application Market (Option 3: As a part of the free 25% customization)
    • By Categories
    • By Business Model
    • By Participants
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Mobile Application Market (Option 4: As a part of the free 25% customization)
    • By Categories
    • By Business Model
    • By Participants
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Mobile Application Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Apple Inc
  • Google LLC
  • Microsoft Corporation
  • China Mobile Ltd
  • Spigot Inc, (Getjar)
  • Handster Inc
  • LG Electronics
  • Palm Inc
  • Nokia Corporation
  • Samsung Electronics Co. Ltd