Mobile Application Market is Projected to Reach US$ 434.33 Billion in 2028

Mobile Application Market is expected to reach US$ 434.33 Billion in 2028, growing at a CAGR of 13.1% during 2022- 2028, reports Stratview Research.

Raipur, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Mobile Application Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the mobile application market is driven by a host of factors, some of which are noted below:

  • Increasing demand for mobile applications is likely to increase in the following years, mainly owing to the smartphone proliferation, growing internet penetration, and rising use of technologies such as artificial intelligence and machine learning in mobile applications (apps).
  • The mobile applications are easily downloaded from application distribution platforms such as App Store (iOS) and Google Play Store.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Mobile Application Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Store Type (Google Store, Apple Store, Others),
  • By Application (Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-Commerce, Others),
  • By Region (North America, Europe, Asia-Pacific, and Rest of the World)

Mobile Application Market Insights

Market Trends by Store Type

The market has been classified into google store, apple store, and others. Under these, the apple store segment held a significant market share of >61% in 2021. This is mainly attributed to comparatively higher monetization rate of iOS apps for revenue gained from in-app purchases & premium apps, thereby boosts the segment growth in the coming years.

Market Trends by Application Type

The market has been classified Gaming, Music & Entertainment, Health & Fitness, Social Networking, Retail & e-Commerce, Others. Under these, the gaming segment held a significant market share of more than 42% in 2021. and is projected to grow at a robust CAGR in the coming years.

Which region offers the best opportunity and growth?

The North America market held the highest market share of more than 31% in 2021 and is projected to grow at a healthy CAGR in the coming years. Presence of key market players in the region, increasing smartphone penetration, strong in-app consumer expenditure, and a relatively higher number of mobile application downloads, further bolsters the regional market growth during the review period.

COVID-19 Impact on the Mobile Application Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

  • Apple Inc. (US)
  • Google LLC,
  • Microsoft Corporation,
  • Amazon Inc.,
  • Gameloft SE (France)
  • Netflix Inc.,
  • Ubisoft Entertainment (France)
  • Practo (India)
  • (India)
  • Xiaomi Corp (China)

What deliverables will you get in this report?

  • In-depth analysis of the Mobile Application Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

1. Music Streaming Market

2. Fitness App Market

About us –

Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.

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