The mobile apps market share is expected to grow by USD 957.44 billion, accelerating at a CAGR of 22.95% during the forecast period. The market is fragmented due to the presence of several players. Technavio's research report provides insights into the top market players and their product portfolios along with pipeline analysis of upcoming developments and growth opportunities. Unlock Free Sample Analysis Report
The mobile apps market is segmented by platform (android, iOS, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The development of hybrid mobile apps is the major mobile apps market trend that will positively impact market growth.
The mobile apps market value in the andriod segment will be significant during the forecast period. The growth of the segment is attributed to the growing use of Android smartphones across the globe, which increases the demand for Android OS. The large customer base of mobile phones will increase the mobile app market growth in APAC. 36% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for mobile apps in APAC.
The mobile apps market report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
The growing e-commerce industry is one of the primary factors driving the growth of the mobile app market. However, the factors such as costs associated with mobile app development and operations will be a major challenge for the mobile app market during the forecast period.
The market is fragmented and the vendors are adopting organic and inorganic growth strategies to compete in the market. Some of the major mobile apps market vendors are:
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