LONDON--(BUSINESS WIRE)--The global mobile apps market is expected to post a CAGR of close to 18% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growing m-commerce industry. The m-commerce market has witnessed exponential growth in recent years, owing to the increasing focus on mobile-aided shopping. Mobile phones provide enhanced flexibility for users as they enable not only product choice but also browsing flexibility to customers. The growing adoption of m-commerce apps in mobile phones is allowing marketers to employ omnichannel marketing strategies. Thus, numerous retailers are adopting a mobile-based approach to boost their sales, which will lead to growth in the number of mobile-based m-commerce apps. This will drive the global mobile apps market during the forecast period.
This market research report on the global mobile apps market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of hybrid mobile apps as one of the key emerging trends in the global mobile apps market:
Global mobile apps market: Development of hybrid mobile apps
Hybrid mobile apps are apps built in combination with web technologies (HTML) and JavaScript. These hybrid mobile apps are hosted in the native application, which use mobile WebView to create mobile compatible web apps. This provides application access to the hardware components of the device, such as the accelerometer and camera, among others. This arrangement enables the creation of mobile apps with native mobile infrastructure and the hosting of web-based content. Hybrid mobile apps enable easy scalability and inter-platform development of mobile apps, wherein, the app developed for Android software can be scaled to iOS or Windows-based operating systems. Thus, the increasing availability of hybrid mobile app platforms could increase the development of hybrid mobile apps. Some of the hybrid mobile apps development platforms include Read Native, Ionic, Onsen UI, PhoneGap, and Framework 7 among others.
“The focus on developing innovative AR/VR-based mobile apps is increasing worldwide. The AR-based mobile apps function based on real-world scenarios, superimposed with computer-generated graphics to provide a composite view to the viewer. AR-based apps provide a highly immersive experience to their users. Thus, they are highly popular across all electronic devices like smartphones and tablets,” says a senior analyst at Technavio.
Global mobile apps market: Segmentation analysis
This market research report segments the global mobile apps market by application (entertainment, social networking, finance, and healthcare) and geographical regions (APAC, EMEA, and the Americas).
The entertainment segment led the market in 2018 with a market share of over 46%, followed by social networking, finance, and healthcare respectively. However, during the forecast period, the finance segment is expected to register the highest incremental growth, followed by the social networking segment.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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