Mobile Application Market

Mobile Application Market by Stores (Apple Store and Google Store), Applications (Gaming, Music & Entertainment, Health & Fitness, Social Networking, and Retail & E-commerce), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Trends, Growth, Share, Size, and Forecast 2021 – 2028

  • Report ID: ICT-SE-411
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 135
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The global mobile application market was valued at USD 170.54 billion in 2020 and is projected to expand at a CAGR of 11.7% during the forecast period, 2021 to 2028. The growth of the market is attributed to the factors such as smartphone proliferation and rapid development of several mobile applications available at Google Play and Apple Store.

Mobile Application Market Key Takeaways

Mobile application (apps) includes various applications that are used for mobile health and fitness, mobile gaming, mobile social networking, mobile music and entertainment, mobile retail and e-commerce among others. The rapidly growing demand for mobile applications is due to several key factors including high internet penetration, smartphone production, and increasing adoption of technology such as machine learning and artificial intelligence (AI) in mobile apps. Additionally, majority of the mobile applications are primarily available in key distribution platforms such as Apple Store (iOS) and Google Play Store. Rapid growth of the e-commerce industry and rising number of online sale platforms or websites offering heavy discounts and door-step delivery service are key aspects of the market development. The availability of low-cost internet data plans as well as high internet speed offered from telecom operators and easy accessibility of the portals using smartphones can easily draw the attention of consumers to download several online mobile apps for buying products.

Rising development of gaming technology and availability of addictive mobile games such as crush saga, Pokémon Go, and clash of clans are key factors that urge a large users to download these apps. These games apps are designed to adopt several sensors and technology. For instance, games such as Pokémon Go use sensors including gyroscope, motion sensors, and accelerometers in tablets and smartphones to ensure the ability of augmented reality (AR) and virtual reality (VR) on the mobile phone. Furthermore, there are primarily three revenue models of the market such as in-game purchases, paid game applications, and in-app advertisements that help to boost the market.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing adoption of smartphones and other consumer electronic devices such as laptop and tablets are projected to boost the mobile application market during the forecast period.
  • Rapid expansion of internet penetration and implementation of high-speed internet networks in emerging economies such as India, China, and Brazil are the key driving factor that can fuel market growth.
  • Rising demand for mobile apps for healthcare, e-commerce, and educational applications is projected to boost the expansion of the market.
  • COVID-19 and its impact had forced to use mobile phone for spending leisure time due to movement restriction caused by the pandemic. This helps to increase the download of several mobile apps, thereby, boosting the market.
  • Lack of knowledge and awareness about the usage of mobile applications on electronic devices present a key challenge likely to hinder the market growth during the analysis period.
  • Technological advancement and increasing R&D activities from key players aiming to launch new innovative electronic devices especially smartphone are expected to offer numerous opportunities for the expansion of the market.

Scope of the Report

The report on the global mobile application market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Attributes

Details

Report Title

Mobile Application Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Stores (Apple Store and Google Store) and Applications (Gaming, Music & Entertainment, Health & Fitness, Social Networking, and Retail & E-commerce)

Regional Scope

Asia Pacific, Europe, North America, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Growth Factors, Competitive Landscape, and Trends, and Revenue Forecast

Key Players Covered in the Report

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


Global Mobile Application Market Segment Insights

Based on stores, the market is bifurcated into Apple store and Google store. The Apple store segment dominated the market in 2020 in terms of revenue, accounting for more than 56% of the global market share. The segment is expected to constitute a major market share in the coming years owing to rising demand for Apple iPhone and iPad due to high-performance capability, rigorous body, and durability. The iOS mobile apps or Apple apps can be only accessed by iPhone or iPad users. However, the Google store segment is projected to exhibit a robust CAGR during the forecast period owing to its android support system. In terms of volume, Google Play store held a major share of the market in 2020 and the segment growth is due to its dominance in the smartphone market since more than 2/3rd of the global smartphones are android-based.

On the basis of applications, the market is classified as gaming, music & entertainment, health & fitness, social networking, and retail & e-commerce. The gaming segment held a dominant market share, accounting for more than 40% of the mobile application market revenue share in 2020 and is anticipated to expand at a significant growth rate in the coming years. The segment growth is owing to rapid rise of the gaming population and increasing availability of a variety of mobile gaming apps including shooting games, strategic games, and racing games from key developers. On the other hand, the music & entertainment segment is likely to register a substantial CAGR of around 12.3% during the forecast period, 2021 to 2028. Availability of live streaming mobile music and entertainment applications offered from key developers including Tinder, HBO NOW, Spotify, YouTube, Netflix, Amazon Prime, and Hulu among others present key driving factors for the segment growth. In the U.S., Netflix generated the maximum revenue in the music and entertainment apps, followed by YouTube in 2018. Surge in the usage of music and entertainment apps is widely propelled by the increasing popularity of streaming services. Live streaming apps including YouTube, Netflix, and Instagram allow users to broadcast live videos for a wider audience and connect them on daily basis.

Mobile Application Market By Applications

In terms of regions, the global mobile application market is categorized by Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major share of the market, representing over 23.5% of the total revenue share in 2020. The presence of key global players in the region including Hewlett Packard Enterprise; Netflix Inc.; Apple Inc.; Google LLC; and Microsoft Corporation is a key driving factor that help the market growth in the region. On the other hand, the market in Asia Pacific is anticipated to expand at a robust CAGR during the forecast period owing to high internet penetration and smartphone adoption among a large number of population in the region. In the region, China and India are likely to remain the two prominent markets, making large investment to create lucrative opportunities for the mobile application market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Mobile Application Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Mobile Application Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Mobile Application Market - Supply Chain
  4.5. Global Mobile Application Market Forecast
     4.5.1. Mobile Application Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Mobile Application Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Mobile Application Market Absolute $ Opportunity
5. Global Mobile Application Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Mobile Application Market Size and Volume Forecast by Applications
     5.3.1. Gaming
     5.3.2. Music & Entertainment
     5.3.3. Health & Fitness
     5.3.4. Social Networking
     5.3.5. Retail & E-commerce
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Mobile Application Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Mobile Application Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Mobile Application Demand Share Forecast, 2019-2026
7. North America Mobile Application Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Mobile Application Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Mobile Application Market Size and Volume Forecast by Applications
     7.4.1. Gaming
     7.4.2. Music & Entertainment
     7.4.3. Health & Fitness
     7.4.4. Social Networking
     7.4.5. Retail & E-commerce
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Mobile Application Demand Share Forecast, 2019-2026
8. Latin America Mobile Application Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Mobile Application Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Mobile Application Market Size and Volume Forecast by Applications
     8.4.1. Gaming
     8.4.2. Music & Entertainment
     8.4.3. Health & Fitness
     8.4.4. Social Networking
     8.4.5. Retail & E-commerce
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Mobile Application Demand Share Forecast, 2019-2026
9. Europe Mobile Application Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Mobile Application Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Mobile Application Market Size and Volume Forecast by Applications
     9.4.1. Gaming
     9.4.2. Music & Entertainment
     9.4.3. Health & Fitness
     9.4.4. Social Networking
     9.4.5. Retail & E-commerce
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Mobile Application Demand Share Forecast, 2019-2026
10. Asia Pacific Mobile Application Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Mobile Application Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Mobile Application Market Size and Volume Forecast by Applications
     10.4.1. Gaming
     10.4.2. Music & Entertainment
     10.4.3. Health & Fitness
     10.4.4. Social Networking
     10.4.5. Retail & E-commerce
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Mobile Application Demand Share Forecast, 2019-2026
11. Middle East & Africa Mobile Application Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Mobile Application Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Mobile Application Market Size and Volume Forecast by Applications
     11.4.1. Gaming
     11.4.2. Music & Entertainment
     11.4.3. Health & Fitness
     11.4.4. Social Networking
     11.4.5. Retail & E-commerce
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Mobile Application Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Mobile Application Market: Market Share Analysis
  12.2. Mobile Application Distributors and Customers
  12.3. Mobile Application Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Xiaomi Corp.
     12.4.2. Ubisoft Entertainment
     12.4.3. Practo, Netflix Inc.
     12.4.4. Microsoft Corporation
     12.4.5. Google LLC
     12.4.6. Gameloft SE
     12.4.7. Cure.fit
     12.4.8. Apple Inc.
     12.4.9. Amazon Inc.
Segments Covered in the Report
The global mobile application market has been segmented based on

Stores
  • Apple Store
  • Google Store
Applications
  • Gaming
  • Music & Entertainment
  • Health & Fitness
  • Social Networking
  • Retail & E-commerce
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Xiaomi Corp.
  • Ubisoft Entertainment
  • Practo, Netflix Inc.
  • Microsoft Corporation
  • Google LLC
  • Gameloft SE
  • Cure.fit
  • Apple Inc.
  • Amazon Inc.

Some key players competing in the global mobile application market include Xiaomi Corp., Ubisoft Entertainment, Practo, Netflix Inc., Microsoft Corporation, Google LLC, Gameloft SE, Cure.fit, Apple Inc., and Amazon Inc. The market is highly fragmented due to the existence of a huge number of big companies and their extensive business operations across the globe. Some market players are involved in acquisitions and partnerships to grow their abilities.

Likewise, Apple Inc. spent a record USD 18.75 billion on research and development in its financial year 2020, growing by about 2.5 billion from its 2019 overall budget. The company launched several dozens of new products in 2019, with immense revenue generation form its key products such as Apple Watch, iPhone, and iPad.

 Mobile Application Market By Key Players

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