Mobile Application Market Projected To Reach USD 565.40 Billion By 2030


 San Francisco, 20 Sep 2022: The Report Mobile Application Market Size, Share, & Trends Analysis Report By Store Type (Google Store, Apple Store, Others), By Application, By Region, And Segment Forecasts, 2022 - 2030

The global mobile application market size is anticipated to reach USD 565.40 billion by 2030, expanding at a CAGR of 13.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing emphasis on living a healthier lifestyle, as well as the demand for real-time access to healthcare data to assist users with workouts, health management, nutrition and diet, and other fitness activities, are the primary factors driving the market growth. Furthermore, factors such as lower internet costs, smartphone proliferation, an increase in expendable income, and the consequent rise in in-app purchases, particularly for gaming apps, are all driving growth.

Furthermore, during the COVID-19 pandemic, downloads of on-demand live video consultation apps increased globally. Although remote consultation services have grown in recent years, there has been a surge in on-demand live video consultations as a result of the current lockdowns. Furthermore, the negative effect of the COVID-19 pandemic on people's mental health and anxiety levels as a result of restrictions on human movement and the fear of becoming infected during the on-premise visit has laid the foundation for growth in online consultation services. The advantages of mobile applications, such as their simple user interface and remote health monitoring, have risen healthcare application downloads for health counseling sessions.

Music and entertainment apps, in addition to gaming and healthcare apps, offer substantial opportunities to raise business revenue. The increasing demand for live streaming applications available is anticipated to be one of the key factors driving the growth of the music and entertainment apps market. Users can broadcast live videos to a larger audience using live streaming apps like YouTube, Netflix, and Instagram.

Furthermore, these apps have grown in popularity among social media influencers, who use them to engage audiences daily and improve the ranking of their accounts and channels. Furthermore, global lockdowns imposed in the aftermath of the COVID-19 outbreak have fueled the development of OTT applications as users continue to engage in recreational activities. As a result, during the pandemic, the typical average time spent on OTT applications increased dramatically. As a result, demand for entertainment applications has skyrocketed. However, the re-opening of economies by governments following pandemic containment is expected to restore normal year-on-year development in the entertainment app segment.

Access Research Report of Mobile Application Market @ https://www.grandviewresearch.com/industry-analysis/mobile-application-market

Mobile Application Market Report Highlights

  • Due to internet penetration, smartphone proliferation, and the increasing use of machine learning and artificial intelligence technologies in mobile applications, the market is expected to grow significantly during the forecast period (apps).
  • The apple store segment accounted for the largest revenue share in 2021, due to iOS apps' relatively higher rate of monetization for revenue generated by in-app purchases and premium apps.
  • The music & entertainment application segment is estimated to demonstrate significant growth during the forecast period from 2022 to 2030, due to the surge in demand for live streaming apps such as YouTube, Netflix, and Instagram.
  • North America led the global mobile application market with over 31.83% revenue share in 2021, owing to high smartphone penetration, rising in-app consumer spending, and the presence of several players in the region, such as Apple Inc., Hewlett Packard Enterprise, Google LLC, Netflix Inc., and Microsoft Corporation.

List of Key Players of the Mobile Application Market

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

Access Press Release of Mobile Application Market @ https://www.grandviewresearch.com/press-release/global-mobile-application-market

 

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