The Smartphone users crossed 5.13 billion mark and there is no sign of slowing downIt is significant that mobile app usage dominates the overall time spent on daily media consumption at 82%.
As the world is growing so is the market for mobile applications, with the increased adoption of mobile phones the market will further grow to its deemed potential in coming years.
The Smartphone users crossed 5.13 billion mark and there is no sign of slowing down. The audiences using internet is growing and thus more and more mobile apps are getting invented to satisfy the needs of the users.
Hot trend in mobile market will cover the wide range of technology stacks from wearable and IoT to Artificial intelligence to VR and AR.
The smartphones at present are enabling the sensors like gyroscope, accelerometers and motion sensors, to ensure capabilities of AR and VR on mobile through apps. Games like ‘Pokémon Go’ follow the lead.
IT has also played a major role in increase in mobile apps market spatially in smart homes, all lighting, temperature, music and security controls are handled by the mobile applications connected via Wi-Fi or Bluetooth.
The competitive landscape of mobile application market is formed by some major players and many of new entrants in the third-party application developers. The leaders constantly keep innovating for new technology and investing in research and development. The mobile market has driven many end users like banking, retailing, media and government.
In 2018, global mobile app revenues amounted to over 365 billion U.S. dollars. In 2023, mobile apps are projected to generate more than 935 billion U.S. dollars in revenues via paid downloads and in-app advertising.
This statistic presents a ranking of the mobile app verticals with the highest install and user base growth in 2018. In 2018, mid-core games had the highest Growth Index score with rating of 18.53. This, according to the source, is due to the growth of battle royale and MOBA games such as Fortnite
Mobile App sector has grown multifold in recent years and so has the demand for them. Studies reveal that total app downloads in 2018 came to 105.3 billion according to this set of mobile app data. Google Play dominates, with nearly three quarters of downloads being made through this channel.
The growth is evident in all app categories, and mobile apps are turning into huge distribution channels themselves, rather than staying as independent instruments of marketing communication. The reach, the frequency, and the retention rate are fascinating for mobile apps. It is significant that mobile app usage dominates the overall time spent on daily media consumption at 82%.
The majority of available apps are B2C since B2B mobile apps are only now starting to enter the mobile app market. The potential for growth is huge. Although the forecasts and the statistics from each research company are slightly different, you can still conclude that the app market is really big.
In US alone,67% of people use smartphone, have access to internet and have mobile apps installed for tier daily day to day tasks.
Most users of mobile apps are between 25 and 30 years old, are married, live in suburban areas, and have had at least four years of college education. Mobile app users are generally younger, more educated and have higher income than other cell phone holders. Businesses that integrate mobile into their strategy can engage an entirely new type of customer – an instantly connected one. Smartphone users generally prefer to multi-task and be on-the-go.
Users who you can reach through mobile apps are more engaged and ready to communicate with your business as long as the channel of communication is accessible and they can find all the product info needed.
A large and enthusiastic team of developers, engineers, and creative brains is always ready to meet the challenges of a tough project and we regularly meet deadlines and deliveries.
Fastcurve is committed to 100% client satisfaction and this is evident from our long-term relationships with clients. Armed with most skilled resources in iOS and Android arena, we solve complex problems with relative ease, due to directed approach towards problem statement and process oriented implementation. You can connect with us to know about our offerings and we would ensure competitive advantage and execution of complex projects with ease.
Our area of mobile app development spreads across e-commerce, enterprise, utility and educational apps amongst others and this cross-industry experience are widely used in creating world-class products