The global Mobile Application Market size is anticipated to reach USD 567.19 billion by 2030, expanding at a CAGR of 13.8% from 2023 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.
Related Press
Release@ Mobile
Application Market Report
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 2022, owing to a
higher monetization rate of iOS apps for revenue gained from premium apps
and in-app purchases.
- The gaming
application segment is projected to exhibit a highets growth rate of 15.2%
during the forecast period from 2023 to 2030, owing to an increase in
demand for mobile gaming apps.
- The Asia
Pacific is expected to emerge as the fastest growing regional market given
the potential the region holds in terms of internet penetration and
smartphone adoption. India and China are anticipated to remain the major
markets, offering strong growth opportunities to all participants across
the mobile application ecosystem.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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