Mobile Applications Market
Global Market Study on Mobile Applications: Games End Use Segment to Reach a Market Valuation of US$ 43.99 Bn by 2024 end
- Report code : PMRREP2592 |
- Industry : IT and Telecommunication |
- Published On : Oct-2016 |
- Pages : 256 Pages |
- Format :
The global mobile application market is anticipated to grow at a significantly high rate, attributed mainly to a growing smartphone market. The global mobile application market is estimated to reach a market valuation of US$ 38.29 Bn by 2016 end and this is expected to increase to US$ 94.15 Bn by the end of 2024, registering a CAGR of 11.1% during the forecast period (2016 – 2024).
Market drivers
Rising disposable income increases the probability of consumer spending on media, entertainment, networking, and mobile communication – leading to higher potential sales of mobile applications. The instances of mobile application adoption are very high among the urban population as compared to the rural population and hence there is high demand for mobile applications in developed regions (where the urban to rural population ratio is higher than developing regions). The global mobile application market is expected to witness substantial growth over the forecast period owing to advancements in the electronic, telecommunication, and m-commerce industries. Growing internet penetration, increasing LTE adoption, and rising subscription in social media are some of the other key factors driving the growth of the global mobile application market.
Trends governing the market
Leading global smartphone manufacturers such as Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Lenovo Group Limited, LG Electronics Inc., Microsoft, etc. are making strategic investments in the development and production of their own application processor (AP) to differentiate their offerings and maintain increased market share and margins. There is also a rising trend of m-commerce particularly among the working population, and this has increased the demand for mobile applications. These factors have led to a rapid growth of the global mobile application market over the last few years and this trend is likely to continue in the coming eight years.
Segment analysis
The global mobile application market is segmented on the basis of Store Type (Apple App Store, Google Play, Others) and End Use (Games, Social Networking, Healthcare, Books, Music, Productivity, Education, Entertainment, News, Photos and Videos, Navigation, Travel, Business, Others).
The Apple App Store segment is expected to witness a CAGR of 11.3% over the forecast period. The Google Play segment is estimated to account for 45.0% value share in 2016 and is expected to increase to 46.2% share by 2024 end.
The Games end use segment is expected to project a substantially high revenue share during the forecast period and is estimated to reach a market valuation of US$ 43.99 Bn by the end of 2024. The Games segment is expected to contribute around half of the revenue of the global mobile application market between 2016 and 2024.
Regional analysis
The global mobile application market is segmented into the five key regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The APAC mobile application market is anticipated to account for a substantial share of the global mobile application market by the end of 2016. APAC is likely to retain its dominance in the global mobile application market over the forecast period. The market in APAC is estimated to account for 41.6% value share in 2016 and this is expected to increase to 44.6% share by the end of 2024. The market in North America is expected register a CAGR of 10.5% over the forecast period. The MEA mobile application market is projected to increase at a significantly high growth rate during the period 2016 – 2024.
Key market players
Google Inc., Microsoft, CA, Cognizant, Hewlett Packard Enterprise Development LP, SAP SE, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., and Opera Software are the main companies dominating the global mobile application market. Of all the market leaders, Google Inc. holds the highest share in the global mobile application market (18.6%) and is currently dominating the global mobile application market in Android-based mobile applications. Apple Inc. holds a market share of 17.8% of the global mobile application market revenue. Top market companies focus on strategic mergers and acquisitions, technology advancements, and competitive pricing to grab a larger share of the global mobile application market.
This report by Persistence Market Research on the global mobile application market for the period 2016–2024 presents an outlook of the market across the globe. The primary objective of the report is to offer updates on market opportunities in the global mobile application market. The report provides analysis of the global mobile application market in terms of market value.
The report starts with an overview of the global mobile application market. This section includes an in-depth analysis of key trends, drivers, and restraints from the supply, demand, and macroeconomic perspectives. Impact analysis of key growth drivers based on the weighted average model is included to better equip clients with useful decision-making insights. The subsequent sections evaluate the present scenario and future growth prospects of the global mobile application market on the basis of key segments – by Store Type, by End Use, and by Region – and provide a detailed analysis and forecast in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and BPS analysis for the next eight years. The global mobile application market report provides an overall market outlook and discusses key regional trends contributing to the growth of the global mobile application market, while analyzing the impact of market drivers, restraints, and trends within each region.
The final section of the global mobile application market report includes a comprehensive competitive landscape to provide a dashboard view of key market players and company analysis based on categories of providers across the global mobile application market value chain, their presence in the global mobile application portfolio, and key differentiators. Some of the major companies featured in the report are Google Inc., Microsoft, CA, Cognizant, Hewlett Packard Enterprise Development LP, SAP SE, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., and Opera Software.
Research methodology
To deduce market size, the report considers data points such as regional split and market split by store type and by end use. Qualitative inputs from primary respondents have been incorporated to arrive at suitable market estimates. The forecast presented in the report evaluates the total revenue that is expected to be generated across the global mobile application market over the forecast period (2016–2024). The report begins by sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the characteristics of the market, data is triangulated on the basis of various supply side and demand side analyses. Given the ever-fluctuating nature of the global economy, the report presents forecasts not only in terms of CAGR, but also analyzes the global mobile application market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities in the global mobile application market.
The report also analyzes the global mobile application market segments in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important to identify the many trends governing the global mobile application market. Another key feature of this report is a comprehensive analysis of the global mobile application market revenue forecast in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global mobile application market. In order to understand key growth segments in terms of growth and performance of the global mobile application market, Persistence Market Research has also developed a market attractiveness index to help providers identify real market opportunities in the global mobile application market.
Company Profiles
- Company Share Analysis
- Global Players
- Google Inc.
- Microsoft
- CA
- Cognizant
- Hewlett Packard Enterprise Development LP
- SAP SE
- China Mobile Limited
- Samsung Electronics Co., Ltd.
- Apple Inc.
- Opera Software
- Others
