Smartphone application’s popularity is rapidly rising in the categories such as social networking, gaming, entertainment, lifestyle, GPS, banking, medical, and much more. No other ecosystem is growing as fast as smartphone apps.
The 2015 Black Friday holiday report by IBM states that mobile devices have dominated the online shopping landscape for the very first time. The powerful growth of the smartphone application industry is the true signal of its bright future. No doubt, it is going to be very challenging in the upcoming years.
If you are also dreaming of growing your business with the help of app building, it is necessary to know “What is going in the mobile market and where it will be after 5 years”.
We researched and created a compilation of statistics and facts delineating the landscape of the present mobile industry along with its position in the next five years. The report contains the international scenario of the market with a detailed overview and figures.
The report from App Annie mobile application forecast includes the following insights:
• 2015 was a great year for the mobile industry, ended up with total revenue of $41.1bn.
• 24% of growth is expected in the application market, making it reach $50.9bn in 2016.
• The global annual smartphone application revenue is predicted to break $101 billion by the end of 2020.
This increasing growth of revenue is clearly showing that mobile apps would be the primary source to lead the businesses in the next 5 years.
• In 2015, the category “Games” have seen the highest lift comprising 85% of the $41.1 billion of total gross revenue.
• Although game making studios are achieving high popularity
• Apart from gaming, the other categories such as video streaming, dating will also keep contributing to the success of the app economy.
• It is expected that China will lead the overall revenue of mobile app stores by the first half of 2016.
• In the emerging markets, U.S, Japan & China will be the major contributors to overall smartphone app revenue growth.
• Also, good opportunities in the smartphone market will be seen in developing markets such as Indonesia, India, Mexico, and Argentina.
• APAC: Includes all countries in South Asia, East Asia, Southeast Asia, Australia, and New Zealand.
• EMEA: Include all countries in Europe, the Middle East, and Africa.
• Americas: Include all countries in North & South America.
The continuous rise of mobile devices is immensely giving a great hike to application download share. The new generation is very fond of smartphone applications, causing millions of app downloads every day. When it comes to the category, in 2015, Gaming was one of the top leaders in the mobile app download economy.
• In 2015, Games were accounting 45.4 bn of total downloads.
• Till the end of 2020, the non-gaming categories including music, media, entertainment, etc are expected to raise their total share in the number of annual downloads.
• The other categories apart from gaming will be exceeded by 23%, making it account for 182.1 bn downloads.
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• The mobile application market is getting bigger every year. Not even a small part of the world is escaped from smartphone apps.
• The true picture of mobile app download growth is majorly seen in the developed markets including China, the USA, and Japan.
• The low prices of smartphones in developing countries like India, Brazil, are also projected to contribute to the growth of annual application downloads.
How much time the smartphone apps are eating
• In 2015, the time spent on mobile apps achieved a great inflate of 63% which has never been seen in the past years.
• On the highest takeaway, the communication apps are eating much of the time of users.
• The time spent on Media & Video category grew by 93% whilst the time spent on shopping and transport were raised by 160% and 123% respectively.
The above insights about the mobile app economy are clearly concluding that digital media is highly relying on smartphone apps. The need of adopting the smartphone application has become the centralized focus of all the small as well as large businesses. In the future, smartphones would be probably the only primary device to access the internet.
Your job doesn’t get finished with the creation of an application, it is also important to be familiar with the latest mobile application development trends with the right marketing strategies and economic picture.
Thus, it’s time to utilize the true value of mobile applications for the successful growth of your business.
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