Global Mobile Application Market By Store Type (Apple, Android and Others), By Application (Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-commerce and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Mobile Application Market
The Global Mobile Application Market size is expected to reach $278 billion by 2026, rising at a market growth of 8.9% CAGR during the forecast period. The mobile application is basically a type of software application that is designed in such a way in order that it can run on various smartphones, tablets, smartphones, and computer tablets. Mobile applications commonly facilitate users with parallel services to those that can be accessed on PCs. The key mobile application is helpful for the users in order to connect them to internet services by aiding them to use the internet on their devices.
Mobile Application Market Size, By Application, 2020-2026
The mobile application market drifts mainly include a surge in the adoption of different devices and an increase in customer base in the e-commerce industry, these factors are driving the growth of the market. In addition to it, augmented focus on apps explicitly used for health & fitness, continuous rise in enterprise apps, and high downloads and in-app purchasing for gaming apps will drive the growth of the market.
The increasing Internet penetration that is resulting in data usage, mainly in developing countries like China, India, and Brazil is the major factor that boosting the growth of the market. From the past years, the Internet has appeared as one of the primary mediums of communication through several devices, such as tablets, smartphones, and laptops, among others. From the past few decades, it is observed that there has been an increase in the number of mobile application buyers due to rapid growth in the product assortment, e-commerce industry, and various discounts and offers available only on e-platforms. The accessibility of low-cost data plans given by telecom operators, which lessens the cost of mobile internet and it attracts more and more in the number of users online is an additional factor that speeds up mobile application downloads in a variety of platforms.
Mobile Application Market Share, By Store Type, 2019
Due to the outbreak of COVID-19, it is seen that the gaming, social media, and entertainment-based applications had the utmost number of downloads than other applications. Also, the demand for healthcare, e-commerce, and educational applications has also shown strong growth. Due to the shift to remote learning, educational apps have provided lucrative growth opportunities to numerous tech companies, and online portals like Zoom, Google Classroom, and Microsoft Teams.
Based on Store Type, the market is segmented into Apple, Android and Others. Based on Application, the market is segmented into Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-commerce and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
|Market size value in 2019||USD 153.6 Billion|
|Market size forecast in 2026||USD 278 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 8.9% from 2020 to 2026|
|Number of Pages||200|
|Number of Tables||294|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competition Analysis, Companies Strategic Developments, Company Profiling|
|Segments covered||Store Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Free Valuable Insights: Global Mobile Application Market to reach a market size of $278 Billion by 2026
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Google, Inc., Apple, Inc., and Microsoft Corporation are the forerunners in the Mobile Application Market. Companies such as IBM Corporation, Broadcom, Inc., Hewlett Packard Enterprise Company, Cognizant Technology Solutions Corporation, and Netflix, Inc. are some of the key innovators in the market.
KBV Cardinal Matrix - Mobile Application Market Competition Analysis
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, Inc., Apple, Inc., Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, Cognizant Technology Solutions Corporation, Netflix, Inc., Broadcom, Inc. (CA Technologies, Inc.), Intellectsoft LLC, and Verbat Technologies LLC.
Recent Strategies Deployed in Mobile Application Market
» Partnerships, Collaborations, and Agreements:
- Sep-2020: Apple came into partnership with the government of Singapore. The partnership was formed on the health initiative LumiHealth, a personalized program for encouraging healthy activity and behaviors using Apple Watch. LumiHealth uses technology and behavioral insights to encourage Singaporeans to keep healthy and complete wellness challenges through their Apple Watch and iPhone.
- Apr-2020: Apple collaborated with Google, Inc., a multinational technology company. The collaboration was focused on enabling the use of Bluetooth technology for helping governments and health agencies reduce the spread of the virus, with user privacy and security central to the design. To further this cause, Apple and Google were aimed to launch a comprehensive solution that includes application programming interfaces (APIs) and operating system-level technology to assist in enabling contact tracing.
- Mar-2018: IBM came into collaboration with Apple, a multinational technology company. The companies made the business apps running on Apple devices more intelligent by integrating IBM Watson machine learning with Apple Core ML. Core ML enables customers to build a machine learning model using Watson to combine it with the iPhone camera to identify the make and model to order the correct parts for a machine.
» Acquisition and Mergers:
- Aug-2020: Apple acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals. Following the acquisition, Mobeewave’s technology helped shoppers tap their credit card or smartphone on another phone to process a payment. The system works with an app and doesn’t require hardware beyond a Near Field Communications, or NFC, chip.
- Jan-2020: Google acquired AppSheet, a no-code mobile-application-building platform. The acquisition enabled Google in providing simple ways for companies to build mobile apps without having to write a line of code.
- Aug-2019: Google announced the acquisition of Socratic, a developer of an online question-and-answer community and educational content library. It also launched the tool as an AI-powered mobile learning app. The newest iteration of Socratic is a mobile app that helps students to take a photo of a question, and get videos, tutorials, and other resources from the web that help them understand the underlying concepts to solve the problem. The app also supports speech recognition so users can also ask questions through voice.
» Product Launches and Product Expansions:
- Oct-2020: IBM Watson Health is unveiling Digital Health Pass, an app for organizations to check people's health status before letting them in public spaces like sports stadiums, airplanes, and workplaces. Users can present a verified health status based on different data sources, such as vaccination status or COVID-19 test, for entering the public locations, to avoid potential virus transmission.
- Jul-2020: IBM Watson Media announced the launch of the IBM live-streaming video mobile application. This application is an enterprise-ready broadcasting tool providing enterprise businesses a solution enriched with security and impeccable features. The video streaming mobile application facilitates multiple live-streamed videos.
- May-2020: Microsoft is introducing a new Family Safety app for iOS and Android. Parents can use the Family Safety app for receiving reports on app usage and overall screentime and even set app time limits with the ability for children to request extensions. Microsoft Family Safety also syncs across Windows, Xbox, and Android, so time limits for games and apps will be synced across multiple devices. This prevents kids from swapping devices to get some extra hours to play Minecraft or Fortnite.
- Nov-2019: Apple introduced the Apple Developer mobile app, a new resource for more than 23 million registered members of its developer community. The app has expanded to include other relevant resources like technical and design articles, developer news and updates, videos, and more. It also provides a way for developers to enroll in the Apple Developer program and maintain their membership.
Scope of the Mobile Application Market Analysis
By Store Type
- Music & Entertainment
- Health & Fitness
- Social Networking
- Retail & e-commerce
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Google, Inc.
- Apple, Inc.
- Hewlett Packard Enterprise Company
- IBM Corporation
- Microsoft Corporation
- Cognizant Technology Solutions Corporation
- Netflix, Inc.
- Broadcom, Inc. (CA Technologies, Inc.)
- Intellectsoft LLC
- Verbat Technologies LLC
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Mobile Application Market Related Reports:
What would be the size of mobile application market by 2026?
The global mobile application market size is expected to reach $278 billion by 2026.
Has COVID-19 impacted the mobile application market?
Yes, Due to the outbreak of COVID-19, it is seen that the gaming, social media, and entertainment-based applications had the utmost number of downloads than other applications.
What are the key factors that drive mobile application industry?
The major factors that are anticipated to drive the mobile application industry include increase in internet penetration and data usage.
Which segment shows big revenue share of the mobile application market in 2019?
The gaming segment has held the largest share of revenue in the year 2019.
Which region led the mobile application market in 2019?
The North America has led the market in the year 2019.
At what CAGR is the mobile application market estimate to grow in the forecast period?
The expected CAGR of mobile application market is 8.9% from 2020 to 2026.