The origin and prediction of the term “mobile application,” the home screen period, services for mobile applications, and the information application approach are all significant turning points in the history of mobile applications. Global demand for mobile applications is predicted to rise, with a CAGR of 9.6% bringing it to US$ 96,128.2 million in 2026. The urban population is more likely than the rural population to use smartphones and mobile apps. The mobile applications market is also being driven by the fast growing urban population. 4G’s launch and the subsequent increase in demand for 4G devices Additionally, internet usage is expanding more quickly in rural areas. This has made it necessary to produce more smartphones at lower costs, which is assisting in the expansion of the global market for mobile applications.
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Global adoption of Long Term Evolution (LTE) devices, booming smartphone sales, expanding e-commerce, and the growing mobile ad business are some of the factors driving the growth of the mobile applications market. Due to rising demand for high-speed internet access and rising mobile data traffic, LTE devices in particular are expected to experience phenomenal rise in acceptance.
The global market for mobile applications was estimated to be worth US $38,589.1 million in 2016; however, a Future Market Insights (FMI) study titled “Mobile Application Market: Global Industry Analysis and Opportunity Assessment, 2016 to 2026” predicts that the market will grow at an impressive 9.6% CAGR from 2016 to 2026, reaching a final value of US $96,128.2 million. The research includes prominent mobile app industry participants like Google Inc., Apple Inc., and Microsoft Inc., among which Google Inc. dominated and owned the largest share of the worldwide mobile app market in 2016. Other well-known businesses include HP, Samsung Electronics Co., Ltd., China Mobile Ltd., Opera Software, Cognizant, CA, SAP SE, and others.
The Apple App Store is anticipated to generate revenues worth more than US $45,000 million by the end of 2026, while the Google Play is predicted to have the highest CAGR over the projection period. According to end-use, the games segment is anticipated to account for more than 44% of the market’s revenue. However, the travel sector is anticipated to develop at the fastest rate during the forecast period, at 11% CAGR.
APEJ is estimated to exhibit the fastest CAGR in the overall market accounting for more than US $41,800 million during the forecast period, followed by Eastern Europe and Latin America. However, North America and Western Europe are also expected to remain lucrative in terms of revenue share until the end of 2026. North America and Western Europe are poised to generate revenue worth US $14,979.4 Mn and US $15,597 Mn respectively by the end of 2026 in the global mobile application market.
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Mobile Application Market – Google Play trumps the Apple App Store in APEJ
The Apple App Store is dominant in affluent regions of the world such as North America and Western Europe. However, it is nowhere near the Google Play Store in the APEJ region. Revenue from the Apple App Store in the APEJ mobile application market was close to $5 Billion in 2016, while Google Play recorded a revenue of around $8 Billion in the same year. By the year 2026, this chasm should become even more markedly pronounced with a revenue difference of nearly $10 Billion in favour of Google Play. The CAGR of the Google Play segment for the forecast period is predicted to be 12.4%.
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Global Mobile Application Market: Segmentation
By Store Type
- Apple App Store
- Google Play
- Others
By End Use
- Games
- Media & Entertainment
- Healthcare
- Education
- Travel
- Shopping
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ excl. Japan
- Japan
- MEA
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