Mobile Application Development Market Intelligence

Mobile Application Development Market Description

The mobile application development market is expected to be worth $139.1 billion by 2020, with the total number of smartphones reaching 6.1 billion. Currently, the Asia Pacific region is leading in the number of app downloads by region with 140.1 billion app downloads as compared to 47.4 in the Americas and 52.0 in EMEA. By 2020, the number of app downloads is expected to reach 198.9 billion in APAC, 74.7 billion in the Americas and 79.2 billion in EMEA. Top IT service providers are Accenture, Infosys, and Capgemini, while top niche mobile application developers are WillowTree, IntellectSof, and Y Media Labs.

The report provides a comprehensive overview of the consumer-facing mobile application development market, with an analysis of the market trends and key capabilities. The report examines the market drivers and constraints and provides a market growth forecast. The report analyzes application downloads and mobile application revenue by region and compares the Android market to the iOS market. A vendor capability assessment is provided in the report, along with an outline of pricing models in the market. The report also presents an overview of the supplier landscape and provides a supplier analysis.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Executive Summary
Market Trends
Market Drivers and Constraints
Supplier Landscape
Supplier Classification
Pricing

Mobile Application Development Market Trend, Analysis & Forecast

Category Intelligence on Mobile Application Development covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

Market Size
Market Growth
Market Trends
Market Drivers and Constraints
Supplier Landscape

Global Market Outlook on Mobile App Development

The mobile application development market generated a revenue of $61.8 billion in 2016 and is expected to be $139.1 billion by 2020

Consumer Application Development Market Trends

VR and AR- enabled Chats

VR and AR are emerging technologies. Product- based companies have also started using these technologies to provide tutorials to the consumers.E.g., IKEA offered an augmented reality app to their customers to visualize how a particular furniture design would look in their home.

Location-based Services

Location-based services are provided via mobile applications to allow customers to understand about the service offerings in a particular region.E.g., Uber shows its users the availability of cabs around their desired location.

Chatbots

Chatbots respond to customers queries real-time and assist them with their purchases. Chatbots have reduced the need for live human agents to assist customer calls.E.g., Zomato(an online restaurant finder) uses virtual assistants/chatbots to support customer queries

Security focus

Mobile applications seek for confidential data from customers, such as phone number, place of residence and also saves their credit card or debit card details on a few instances. With such confidential information at stake the focus is on developing highly secure applications to ensure that the customer data is not compromised

m-Commerce

The emerging m-commerce market has forced companies to develop user-friendly mobile applications as an alternative selling and interaction channel.E.g., Hindustan Unilever provides an application “HumaraShop” which serves as a hyper-local grocery marketplace.

UI-UX

The key to developing a successful mobile application is a well designed user interface. User experience is critical to customer engagement as well as monetization. If the user experience is friendly, customers tend to use the application more and are loyal to the brand.

Market Drivers

The number of applications downloaded is forecasted to increase at a rate of 23 percent, primarily due to increasing number of smartphones in emerging markets, such as India, Brazil and Mexico.
Consumers are willing to spend on different type of applications based on their priorities. The willingness to purchase an application is influenced by the brand, the user interface, and the level of services offered on the application.

Market Constraints

Leading IT professionals have quoted that the time taken to develop and publish a mobile application is high. This is predominantly due to the lack of specialized skill set in developing mobile applications and high complexity levels, such as large-scale data integration.
The demand for developing applications to assist customers and internal stakeholders is increasing and lack of resources to develop mobile applications has resulted in huge backlogs of mobile applications for the IT team.

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