Global Mobile App Development Market Projected to Hit USD 366.34 billion at a 23.80% CAGR by 2030- Report by Market Research Future (MRFR)
Sep 28, 2022
The global mobile app development market is growing pervasively. The increasing use of mobile devices and various applications drives market growth. Market Research Future (MRFR) asserts that the global mobile app development market is projected to expand at over 23.80% CAGR throughout the review period (2020-2030).
Many businesses use mobile phones to improve productivity, safety, and mobility and help their employees to improve customer service by staying in touch with customers and suppliers while working remotely. This, as a result, accelerates the number of mobile phone users and creates the need for mobile applications to run the business efficiently.
Revenue Forecast in 2030
USD 7.16 Billion
CAGR of 8.4% from 2022 to 2030
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Also, significant demand for mobile apps boosts the mobile app development market share. Mobile app development is a complex and critical process requiring a high level of technical expertise. This leads the companies to choose third-party companies to develop their mobile applications. A mobile app development platform (MADP) comprises products and services allowing the easy and fast development of mobile applications.
Moreover, the wide adoption of Bring Your Own Devices (BYOD) and Bring Your Own Access (BYOA) programs in enterprises has led to the growth of the mobile app development market. BYOD and BYOA enable employees to use all kinds of mobile devices, including windows phones, android, and iPhones that require mobile applications to be functional on all platforms.
The easy availability of solutions used in the development of cross-apps and successful launches of developer previews influence market revenues. Also, official launches of tools and services required for building secure and scalable mobile & web applications substantiate the market value.
Mobile development activities have skyrocketed over the past years. Also, mobile applications have turned into highly effective sales and marketing tools for numerous modern businesses. Mobile applications are increasingly gaining popularity as enterprise marketing apps, so they have become a greater target for hackers.
Therefore, organizations must prepare and mitigate all sorts of mobile threat vectors, such as attacks via mobile apps, to avoid cybersecurity breaches. Also, increasing costs and technical difficulties associated with mobile app development restrain the market growth. Many technology giants acquire promising no-code app developing platforms to bolster their mobile app credentials and create applications for the Web and mobile use.
The mobile app development market report is segmented into categories, platforms, end-users, and regions. The category segment is sub-segmented into gaming and non-gaming. The platform segment is sub-segmented into ios, android, and windows. The end-user segment is sub-segmented into banking, retail, airlines, media, education, transport, hotels & restaurant, government, and others. The region segment is bifurcated into the MEA, Americas, Asia Pacific, Europe, and the Rest-of-the-World.
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North America dominates the global mobile app development market. The largest market share attributes to many enterprises and early adopters of innovative technologies, offering a favorable platform for mobile app development solutions to evolve significantly. Besides, technological advancements and the proliferation of intelligent connected devices boost the market size.
The presence of several key mobile app developers and well-established infrastructures fosters market value, allowing easy accessibility to advanced technologies. There are vast developments in manufacturing processes and industrial infrastructure in the region. Also, the rise in mobile workforces and augmenting demand for high-speed data services act as key driving forces for the market.
The Asia Pacific region is another lucrative global market for mobile app development platforms. The high availability of cost-competitive tablets and smartphones and the growing use of various mobile applications by people and organizations lead to increasing market demand. Moreover, the rising use of digital technology in countries like India and China boosts market growth.
The strong presence of notable technology developers in the region provides a huge impetus to the market share. Additionally, the increasing automation and adoption of cloud services in developing countries offer significant opportunities. The proliferation of smart mobile devices and wide adoption of cloud-based solutions among SMEs & large enterprises, alongside the developments in the IT sector, foster the region’s market shares.
Fiercely competitive, the mobile app development market appears to be fragmented with the presence of various large and small-scale players. Leading industry players make substantial investments to transform the consumer and business landscape. They incorporate strategic initiatives such as collaboration, partnership, acquisition, product & technology launch, and expansion to gain a larger competitive edge and stay ahead in the market competition.
For instance, On Aug 31, 2022, BILDIT officially launched a fully customizable native mobile app dev platform named Suite, debunking progressive web app trends. The new platform is specially designed for retail & ecommerce brands to build consumer loyalty and increase conversions by 25% with an easy, affordable, and secure native m-commerce app. BILDIT aims to lower the barrier to entry by making fully native ecommerce mobile apps accessible and affordable for a broader range of retailers.
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Players leading the global mobile app development market are Google Inc. (US), Facebook Inc. (US), Microsoft Corporation (US), Apple Inc. (US), IBM Corporation (US), Amazon Inc. (US), Kony Inc. (US), Verivo Software Inc. (US), Infosys Ltd. (India), and Wipro Corporation (India)\
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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