The Global Mobile Application Market Size collected USD 208.5 Billion in 2022 and is set to achieve a market size of USD 715.7 Billion in 2032 growing at a CAGR of 13.2% from 2023 to 2032.
Mobile Application Market Report Statistics
Mobile application is a user-friendly software that is designed to run on mobile devices such as smartphones or tablet computers or any other device. Mobile applications or apps are used to retrieve general information such as email, games, contact, productivity, entertainment, social and personalization, music and lifestyle, travel and navigation, and others. In addition, mobile apps help end-users to search for information and download data by connecting to the internet. The mobile industry is growing at a robust pace in which mobile manufacturers, leading enterprises, wireless operators, and some IT individuals are enabling developers to build new paid and unpaid apps that are placed in the online store.
Global Mobile Application Market Dynamics
Mobile Application Market Report Coverage
|Market||Mobile Application Market|
|Mobile Application Market Size 2022||USD 208.5 Billion|
|Mobile Application Market Forecast 2032||USD 715.7 Billion|
|Mobile Application Market CAGR During 2023 - 2032||13.2%|
|Mobile Application Market Analysis Period||2020 - 2032|
|Mobile Application Market Base Year||2022|
|Mobile Application Market Forecast Data||2023 - 2032|
|Segments Covered||By Store Type, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Amazon Inc., Apple Inc., Cognizant, Gameloft SE, Google LLC, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Netflix Inc., Practo, Ubisoft Entertainment, and Verbat Technologies.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Mobile Application Market Growth Factors
The use of mobile applications has become progressively popular among mobile phone users. The growth of smartphones has led to a rise in the usage and downloading of apps. The number of mobile app users is growing with the shift in computing use from desktop to mobile platforms. The boom in the mobile phone market coupled with the usage of smartphone trends is accelerating the mobile application market. The rapidly growing mobile phone industry and population worldwide are boosting the adoption of the mobile application market significantly. Technological development and globalization are the major factors driving the mobile application market. The challenges faced by the mobile application market include the compatibility issues of mobile applications with different operating systems.
Mobile Application Market Segmentation
The worldwide mobile application market is categorized based on store type, application, and geography.
Mobile Application Market By Store Type
According to the market forecast for mobile application, the Apple Store will have the largest market share from 2023 to 2032. The Google Play Store had over 3.48 million apps available as of 2021, while the Apple App Store had over 2.22 million. The Apple App Store, on the other hand, typically generates more revenue for developers than the Google Play Store. The App Store will generate $129 billion in revenue in 2022, while the Google Play Store will generate $73 billion. However, there are other mobile app stores that are gaining popularity, particularly in emerging markets. For example, the Huawei AppGallery, the world's third-largest app store, has grown rapidly in recent years. Other third-party app stores exist, allowing users to download and install applications outside of the official stores, but these stores are generally not as trusted or widespread used. While the Google Play Store and Apple App Store are the dominant stores in the mobile application market, other stores, particularly in emerging markets, are gaining popularity.
Mobile Application Market By Application
According to a mobile application industry analysis, gaming applications captured the largest market share in 2022 and are expected to continue to do so in the coming years. Gaming applications are among the most popular and profitable mobile applications. Candy Crush, PUBG, and Fortnite have millions of downloads and generate substantial revenue for developers. Netflix, Spotify, and YouTube are extremely popular music an entertainment applications that generate significant revenue. Users can use these apps to stream and download music, movies, and TV shows. With a growing emphasis on health and fitness, apps like MyFitnessPal, Fitbit, and Headspace are becoming increasingly popular. Users can use these apps to track their fitness goals, track their progress, and manage their mental health. Social networking sites like Facebook, Instagram, and Twitter have become an indispensible part of many people's lives. Users can use these apps to connect with friends, share photos and videos, and stay up to date on news and events. The rise of mobile commerce has resulted in the creation of numerous retail and e-commerce applications, including those from Amazon, eBay, and Alibaba. Users can use these applications to shop online, compare prices, and make purchases directly from their mobile devices.
Mobile Application Market Regional Outlook
The Middle East & Africa
Mobile Application Market Regional Analysis
Currently, North America is a mature region in the global mobile application market; however, Asia-Pacific was analyzed to be the largest market in terms of downloads. The mobile application market has a huge scope in emerging economies of Asia-Pacific such as, India and China who are anticipated to lead the mobile app market due to growing demand for mobile gaming and internet subscription. Asia-Pacific is also a rapidly growing market for mobile applications, owing to the increasing popularity of smartphones and mobile commerce. Gaming, entertainment, and social networking apps are extremely popular, but health and fitness, education, and e-commerce apps are also widely used. The European market for mobile application is projected to be the highest revenue generator in the coming years.
Mobile Application Market Players
Some of the global mobile application companies profiled in the report include Amazon Inc., Apple Inc., Cognizant, Gameloft SE, Google LLC, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Netflix Inc., Practo, Ubisoft Entertainment, and Verbat Technologies. Major software companies, such as Google and Apple are offering strong competition to the relatively safe and established participants in the mobile application business. These companies have led to significant structural changes in the market by enforcing and imposing their rules for the future development of the mobile application. The market for mobile applications is highly competitive and hence all the players in the market are investing extensively in the R&D of new applications for customers
The market size of mobile application was USD 208.5 Billion in 2022.
The CAGR of mobile application market is 13.2% during the analysis period of 2023 to 2032.
The key players operating in the global market are including Amazon Inc., Apple Inc., Cognizant, Gameloft SE, Google LLC, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Netflix Inc., Practo, Ubisoft Entertainment, and Verbat Technologies.
North America held the dominating position in mobile application market during the analysis period of 2023 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for mobile application market during the analysis period of 2023 to 2032.
The current trends and dynamics in the mobile application industry include increasing adoption of mobile devices, growing need for mobile app optimization, and rising competition among mobile app developers.
The gaming application held the maximum share of the mobile application market.