Mobile Application Market Variables, Worldwide Trends, Regional Scope & Demand, 2027

Felton, Calif., USA, June. 22, 2021 — /EPR Network/ —

The global Mobile Application Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global mobile application market size is anticipated to value USD 366.34 billion until 2027. It is also expected to register a CAGR of 11.5% over the forecasted years, 2020 to 2027. The rising adoption of the internet and smartphones to carry out daily activities is projected to propel the market growth for mobile applications.

Key Players:

• Apple
• Google LLC
• Microsoft Corporation
• Amazon
• Gameloft SE
• Netflix
• Ubisoft Entertainment
• Practo
• fit
• Xiaomi Corp

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Growth Drivers:

The majority of the mobile applications developers have started leveraging advanced technologies like big data, AI (artificial intelligence), and ML (machine learning) for widening their product reach and usage. Apart from communication, smartphones are also being designed to severe many purposes. Several telecom operators have thus launched low-cost internet data plans are per the customized need of the users. Also, offers and discounts provided by product and service providers on downloading their applications have upsurges the market growth.

Application Outlook:

• Gaming
• Music & Entertainment
• Health & Fitness
• Social Networking
• Retail & e-commerce

The music & entertainment segment registered significant growth with 12.0% CAGR over the forecasted period. The emergence of several mobile music & entertainment applications like Netflix, Spotify, Tinder, YouTube, and Amazon Prime is expected to contribute majorly towards this growth. For example, Netflix gained the highest revenue in 2018 which is followed by YouTube.

In 2019, the gaming application segment accounted for the largest share of around 40.0% across the global market. It is also expected to register the highest growth in the upcoming years. This can be associated with the exponentially growing popularity of gaming applications across countries like India and China.

Regional Outlook:

North America accounted for a dominant share of more than 30.0% across the global mobile application market in 2019. This can be associated with the surging presence of key players like Google LLC, Netflix Inc., Apple Inc., and Microsoft Corporation. Moreover, external factors like increased consumer spending, surging penetration of smartphones, and the internet among the millennial population, and rising number of application downloads in smartphones across this region are expected to augment the market growth.

The Asia Pacific is expected to witness fastest growth across the global market from 2020 to 2027. This growth can be attributed with the increasing popularity of smartphones among individuals. Moreover, initiatives undertaken by several governments like Digital India for promoting digitalization are projected to drive the market growth in the upcoming years.

COVID-19 Impact Insights

The market has been positively impacted due to the ongoing COVID-19 pandemic. Lockdown imposition across several countries has resulted in the imposition of online education and work from home policies. Thus, applications such as Zoom, Microsoft Teams, and Google Classrooms have found their way to penetrate deeper into the market. Also, traveling restrictions have forced individuals to adopt in-house entertainment mediums, which has propelled the number of downloads of applications like Netflix and HBO. Moreover, initiatives undertaken by governing authorities for curbing the spread of a virus such as the development of the AarogyaSetu mobile application by the Government of India have triggered the market growth for mobile applications.

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