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Mobile Application Market to Grow US$ 408.13 Billion by 2027

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The global Mobile Application market size is expected to surpass around US$ 408.13 billion by 2027 and the market is expected to garner growth at a CAGR of 18.6% over the forecast period 2021 to 2027.

The Mobile Application market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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Growth Factors

Increasing penetration of smartphone devices along with rapid spread of concept of connected world fuels the demand for various mobile applications. Introduction of mobile control devices for smart home projected to be a dream-changer for the mobile application market. As per a survey statistics, control and connectivity solutions penetration for smart homes has hit 27% in 2019. Similarly, other regions also encountered rapid growth in connectivity & control solutions for smart home. Additionally, the IoT penetration in smart homes helps to control the lighting, security, music, temperature, air conditioning, and other mobile control appliances.

Besides this, mobile applications are largely useful for online banking, health monitoring, and entertainment businesses. Fitness applications and several gaming applications that are developer-trusted or native application have now became companion for any smartphone user. To enhance the user experience using interactive and better user interface third party application developers are trying to grab the maximum market opportunity. Thus, rising competition for the better and enhanced mobile application projected to fuel the market growth during the forecast period. However, lack of internet penetration in some of the rural and under-developed areas may restrict the market growth.

Market Report Scope

Report Highlights Details
Market Size in 2020 USD 127.10 Billion
Growth Rate CAGR of 18.6% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Mobile Application market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Mobile Application market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Mobile Application. The study also provides the dynamics that are responsible for influencing the future status of the Mobile Application market over the forecast period.

A detailed assessment of the Mobile Application market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Mobile Application market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • Asia Pacific encountered the fastest growth over the forecast period and expected to dominate the global mobile application market in years to come. This is attributed to the rising penetration of smartphones and internet usage in the region.
  • Government initiative for 5G and LTE network has increased the internet speed that provides ease in accessing complex and large size applications. Similarly, users are also attracted towards the smart gadgets and appliances that has inbuilt wifi, Bluetooth, and sensors to make it controllable from mobile.
  • North America held the dominant position in the global mobile application market in 2019 owing to early technology adoption coupled with presence of dominant market players such as IBM Corp., Microsoft Corp., Google LLC, and many others.
  • Apple iOS store led the global mobile application market in 2019 with approximately half of the global market revenue share. The dominance of the segment is mainly due to rising demand of apple and iPhones in the market. On the other hand, Google Play Store exhibits the fastest growth rate over the forecast period.
  • By app category, gaming segment has its proliferated revenue share in the past few years owing to gaming companies have tilted their focus towards incorporation of graphics and 3D animation to enhance the user experience.

Regional Snapshots

The Asia Pacific exhibits the fastest growth rate during the forecast period and expected to hold the dominant position in the coming years. Prime factors attributed to this are explosive growth in smartphone sales in the past few years, with several new competitors capturing the market for example OnePlus, Xiaomi, Nokia, & Vivo and challenging the established players such as iPhone and Samsung. In addition, rising internet penetration in the under-developed and developing Asian countries also contribute significantly in the market growth during the coming years.

However, North America led the global mobile application market with approximately 40% of the revenue share in 2019. This is majorly due to the presence of some of the major market players in the region such as Apple Inc., Cognizant, CA Technologies, Hewlett Packard Enterprise, Google LLC, Microsoft Corporation, IBM Corp., and many more. Furthermore, increased competition in the market has triggered the application development speed along with enhanced user experience.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Apple Inc.
  • Cognizant
  • CA Technologies
  • Hewlett Packard Enterprise
  • China Mobile Ltd
  • Google LLC
  • Intellectsoft
  • Microsoft Corporation
  • International Business Machines Corporation
  • Verbat Technologies

Segments Covered in the Report

By Marketplace

  • Google Play Store
  • Apple iOS Store
  • Other Marketplaces (Microsoft)

By App Category

  • Music & Entertainment
  • Gaming
  • Health & Fitness
  • Education & Learning
  • Retail & e-Commerce
  • Travel & Hospitality
  • Others (Navigation, Utilities, and News)

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Mobile Application market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Mobile Application are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Mobile Application Market, By Marketplace

7.1. Mobile Application Market, by Marketplace Type, 2020-2027
7.1.1. Google Play Store
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Apple iOS Store
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Other Marketplaces (Microsoft)
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Mobile Application Market, By App Category

8.1. Mobile Application Market, by App Category, 2020-2027
8.1.1. Music & Entertainment
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Gaming
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Health & Fitness
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Education & Learning
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Retail & e-Commerce
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Travel & Hospitality
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Others (Navigation, Utilities, and News)
8.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Mobile Application Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.2. Market Revenue and Forecast, by App Category (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.1.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.2.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.3.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.4.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.4.6.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.3.2. Market Revenue and Forecast, by App Category (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Marketplace (2016-2027)
9.5.4.2. Market Revenue and Forecast, by App Category (2016-2027)

Chapter 10. Company Profiles

10.1. Apple Inc.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Cognizant
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. CA Technologies
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Hewlett Packard Enterprise
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. China Mobile Ltd
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Google LLC
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Intellectsoft
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Microsoft Corporation
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. International Business Machines Corporation
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Verbat Technologies
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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