Sarasota, FL -- (SBWIRE) -- 12/13/2018 -- Zion Market Research has published a new report titled "Intelligent Apps Market By Type (Consumer Apps and Enterprise Apps), By Store Type (Google Play, Apple App Store, and Others), and By End-User (Retail and E-commerce, Telecom, Banking, Media and Entertainment, Travel and Hospitality, and Others): Global Industry Perspective, Comprehensive Analysis,and Forecast, 2017-2024". According to the report, the global intelligent apps market was valued at approximately USD 6.98 billion in 2017 and is expected to reach approximately USD 52.04 billion by 2024, at a CAGR of around 33.24% between 2018 and 2024.

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The core components of intelligent apps include data analytics and machine learning. These apps have algorithms based on artificial intelligence that eliminate the unrelated data and focus on the relevant data to make decisions. The main goal of these apps is to understand the consumer need and deliver contextual information on the probable problems before they arise. These apps enable automatic task execution without waiting for user commands.

Increasing adoption of machine learning platform in mobile applications to make smart and better decisions is expected to boost the demand for intelligent apps globally. Intelligent apps make use of machine learning and real-time tools as well as historical data to make smarter decisions and provide a highly personalized user experience. The growing use of advanced analytics to improve user experience is further anticipated to escalate the global intelligent apps market growth. Intelligent apps combine prescriptive and predictive analytics, product insights, operational vision, and customer data with the modern, user-friendly application, and design development tools to create a highly impressive user experience. Furthermore, rising use of smartphones is driving the enterprise mobility, which, in turn, is likely to drive the intelligent apps market growth. Moreover, increasing technological advancements made in mobile applications is anticipated to create ample opportunities in the global intelligent apps market. However, data privacy and security concerns might restrain the intelligent apps market growth in the upcoming years.

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The intelligent apps market is segmented based on type, store type, and end-user. By type, the global intelligent apps market in bifurcated into consumer apps and enterprise apps. Store type segment includes Google Play Store, Apple App Store, and others. Various end-users analyzed in this market are retail and e-commerce, telecom, banking, media and entertainment, travel and hospitality, and others.

The regions included in the global intelligent apps market study are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is likely to hold the largest share in the intelligent apps market. Increasing adoption of personal assistance apps by North American consumers is driving the intelligent apps market growth. The main objective of personal assistant applications is the planning of the daily activities list of the users. The personal assistant apps assist the user for planning an optimal succession of desired activities. According to a recent study, 44% of the smartphones in the U.S. had personal assistance apps in 2017. Personal assistance apps, such as Amazon's Alexa, Siri, etc., that are based on AI have gained massive popularity among smartphone users in North America.

Key players profiled in this market report are Opera Software, Cognizant, Google Inc., Microsoft Corporation, Hewlett Packard Enterprise, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., Development LP, and SAP SE, among others.

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This report segments the global intelligent apps market as follows:

Global Intelligent Apps Market: Type Segment Analysis

Consumer Apps
Enterprise Apps

Global Intelligent Apps Market: Store Type Segment Analysis

Google Play
Apple App Store
Others

Global Intelligent AppsMarket: End-UserSegment Analysis

Retail and E-commerce
Telecom
Banking
Media and Entertainment
Travel and Hospitality
Others

Global Intelligent AppsMarket: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa