Global Mobile Applications Market Revenue, Opportunity and Value Chain 2021-2027
Posted by Fred Williams on April 19th, 2021
The global mobile application market is anticipated to reach ~US$ 717 Bn by 2030. The mobile application market is projected to expand at a CAGR of ~20% from 2020 to 2030 based on revenue. According to the report, Asia Pacific was a significant contributor to the mobile application market in terms of revenue in 2019. The prominent market share of the region is due to high adoption of smartphone and mobile applications, especially in China, India, and Japan. The mobile application market in Asia Pacific is expected to expand at a high CAGR during the forecast period.
Increasing Adoption of Smartphones and Penetration of Internet Driving Mobile Application Market
Internet has revolutionized the world benefiting enterprises, industries, and end users. Increasing use of mobile internet is the reason for the rapid growth of the mobile application market across all regions, creating huge demand for mobile apps in different categories. Mobile manufacturing companies are focusing on launching new advanced mobile devices with updated features such as processing speed, software capability, storage, and display quality due to increasing demand for smartphones among users. Different models and operating systems in mobile devices require suitable mobile applications to perform tasks and processes. These updated features allow users to perform multiple tasks over different mobile apps at the same time. Thus, the growing adoption of smartphones and high speed networks is expected to drive the mobile application market during the forecast period.
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About the AuthorFred Williams
Joined: May 7th, 2020
Articles Posted: 371
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