The global mobile applications market is a choc-o-bloc with big, small, and mid-sized companies that operate in global as well as regional markets, states Transparency Market Research (TMR) in a new report. Key companies such as Apple Inc. and Google Inc. hold large market shares due to their impeccable top of the line products for an array of uses.
Software applications designed to run on mobile computing devices such as smartphones, tablet PCs and other devices facilitating various functionality are termed mobile applications or mobile apps. These apps can be easily downloaded to mobile devices via the Internet. Typically, mobile apps are downloaded from application distribution platforms such as Google Play Store (Android), Apple App Store, and Windows Phone Store. Mobile applications benefit users by connecting them to various Internet-based services that are commonly accessed from desktop or laptop computers. Moreover, mobile apps can be used as website bookmarking utilities, which helps in accessing mobile-based instant messaging services such as Gmail and other websites. The mobile apps market is majorly dominated by consumer apps such as gaming, messaging, social networks, and services.
The mobile application market is majorly driven by the growing penetration of smartphones and tablets globally. The market is expected to witness strong growth over the forecast period due to rising demand for high-performance smartphones and growing penetration of mobile Internet across the globe. With the growing usage of Internet-based services globally, the demand for online mobile apps is expected to rise significantly. However, the mobile applications market might be affected due to the significant advantages of mobile websites over the mobile apps.
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Advancements in Cellular Networks Benefits Market
The global mobile applications market is mainly driven by the incessant demand for smartphones and tablets across the world. The mobile applications market is anticipated to witness strong growth as a large population are increasingly owing Internet-enabled smartphones for an array of needs. High-speed cellular networks with wide bandwidth spectrum is increasingly being offered by major mobile carriers across the world. This, along with increase in number of downloads of mobile apps is fuelling the mobile applications market. As per statistics, 102,062 mn mobile apps were downloaded in 2013 and this number is anticipated to reach 268,692 mn by the end of 2017.
Mobile applications are software that are user friendly and are designed for operating on mobile devices such as smartphones, tablets, and other handheld devices. With the rising adoption of smartphones, there has been continual development of mobile apps for an array of uses such as gaming and entertainment, social, travel, shopping, etc.
Gaming and Entertainment Mobile Apps Rule
Surging demand for mobile apps for gaming and entertainment is one of the key factors behind the growth of mobile applications market. The advancement in cellular networks and reliable Internet connectivity have enabled consumers to download free and paid apps like never before. Young adults between the age of 15 and 25 years account for maximum demand for gaming apps. As per statistics, gaming and entertainment mobile apps collectively account for close to 40% share in the global mobile applications market. Mobile applications for travel, shopping, music mainly find takers from individuals between 25 and 45 years.
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