Mobile Applications Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 11/02/2015 -- The featured report on Transparency Market Research (TMR), titled "Mobile Applications Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", sheds light on the major trends in this market. According to the report, the global mobile applications market will demonstrate a healthy CAGR of 16.2% during the forecast period of 2014 to 2020. In 2013, the global mobile applications market was worth US$16.97 billion, and is expected to more than triple in value by 2020, reaching a total valuation of US$54.89 billion.Smartphone users across the globe are downloading an increasing number of mobile apps, thanks to the widening scope of the smartphones market and increasing internet connectivity. The number of mobile apps downloaded globally is 102,062 million and by 2017 this figure is expected to reach 268,692 million.
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Other factors boosting the growth of the global mobile applications market include advancement in mobile internet networks and the elevated demand for mobile apps in gaming. The latter is the major reason behind the progressive growth of the global mobile applications market.The most common and popular kinds of mobile apps are entertainment and gaming apps. In 2013, the entertainment and gaming mobile apps together held a substantial 40% share in the global mobile applications market. Other categories of mobile applications evaluated in the report are productivity, music, audio and lifestyle, social and personalization, travel and navigation, and business, finance, and utilities apps. By store type, the global mobile applications market is segmented into native/on-deck and third-party/off-deck. Some examples of mobile app stores are BlackBerry AppWorld, Windows Phone Store, App Store, and Google Play.
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Geography-wise, the global mobile applications market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). In 2013, North America dominated the global mobile applications market with a 34% share, due to high penetration of handheld smart devices. Asia Pacific is expected to exhibit the fastest growth in the global mobile applications market in the coming years due to its large population, which will boost the penetration of smartphones in this region. Penetration of smartphones will be the highest between the age group of 15-40 years. Asia Pacific held a 36% share in the global mobile applications market and is projected to emerge as the dominant player by the end of 2020. Regional markets of Europe and RoW will also experience significant growth in the global mobile applications industry during the forecast period.
Though the global mobile applications market will experience good growth in the foreseeable future, the preference of a majority of users to mobile sites over apps will suppress it. Nonetheless, players in the global mobile applications market will benefit from the untapped market potential in the enterprise mobile apps sector. The key companies operating in the global mobile applications market are Google, Y Media Labs, OpenXcell Technolabs, Handmark, Microsoft Corporation, WillowTree Apps, Softeq Development Corporation, Sourcebits, QBurst, BlackBerry Limited, and Apple.
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Market Segmentation of Global Mobile Applications Market:
Mobile Applications Market, by Store Type
Mobile Applications Market, by Category
Games and Entertainment
Social and Personalization
Music Audio and Lifestyle
Travel and Navigation
Others (Business, Finance and Utilities)
Mobile Applications Market, by Geography
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