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Mobile Application Development Market: To Be Extremely Lucrative For The Future

Market Highlights:

The Global Mobile Application Development Market is growing with the rapid pace mainly due to the increasing market of smartphones or tablets. The dependency over the smartphones has been increased tremendously which in result has led to the growth of mobile application development market. According to a recent study report published by the Market Research Future, the global market of Mobile Application Development is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).

The Global Mobile Application Development Market is driven by the adoption of new technologies, changing lifestyle and growing adoption by corporates to simplify their daily tasks. Furthermore, the increasing adoption of machine learning and the addition of machine learning into the mobile applications is also responsible for the growth of mobile application development market. The Mobile Application Development market is highly competitive due to the increase in web based applications and Government funding towards secured centrally connected systems.

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Major Key Players

Facebook, Inc. (U.S.),

Google, Inc. (U.S.),

Microsoft Corporation (U.S.),

IBM corporation (U.S.),

Apple, Inc. (U.S.),

Amazon, Inc. (U.S.),

Kony, Inc. (U.S.),

Verivo software, Inc. (U.S.),

Infosys, Ltd. (India), and Wipro Corporation (India) among others.

Industry News

Sept 20, 2017 - Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, has announced its partnership with Niki.ai, a FinTech start-up that offers chat based commerce solutions. With this partnership, Finacle solution suite will be available with Niki.ai’s chat-based virtual assistant – Niki. This offering will enable banks to offer its customers a virtual banking assistant for shopping products and services using mobile applications.

April 19, 2016 – Infosys, a global leader in consulting, technology, outsourcing and next-generation services, has announced that it has fortified its partnership with Udacity, a global online education company, for the second consecutive year. The joint endeavor, aimed at accelerating the pace of skill adoption in new technologies and industry skills and help in the mobile application development.

Mobile Application Development Global Market - Segmentation

The Mobile Application Development Market can be segmented in to 3 key dynamics:

Segmentation by Platform : Comprises IOS, and Android

Segmentation by Application : Comprises Entertainment (Gaming and media), banking, retail, airlines, e-commerce, education, government agencies and social networking among others.

Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific and Rest of the World.

Mobile Application Development Global Market - Regional Analysis

North-America is dominating the Global Mobile Application Development Market with the largest market share and is expected to grow over its previous growth records by 2022. This is due to the increasing adoption of new solutions, changing lifestyle and increasing consumer preference for smartphones. Mobile Application Development Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2022 due to rapid technological advancements and China being the manufacturing hub. The European market for Mobile Application Development Market is expected to grow at a considerable CAGR (2016-2022). This is due to rise in IT technology and growing population which is increasing the demand for smartphones and tablets in the region.

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Target Audience:

Mobile application providers
Entertainment industry
Education industry
Research and consulting firms
Small and large enterprises
Government agencies
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