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The unprecedented growing number of smartphones, along with apps that run on them is the biggest technical phenomenon in recent times. Amazingly, smartphones have now become the remote control for our lives, with things happening in a single tap through mobile apps from different categories, like Games, Music, Food, Cabs, Sports, Real Estate, Retail, and others.
With revenue of almost USD 86 billion in 2014 and an annual growth rate of 27 percent, the global mobile apps market is the fastest technology adoption across the globe. And we know when it comes to the biggest technology market, it is always the United States. It is currently holding a 55 percent share in the app world, and most of the apps have been developed by the top mobile app development company in the USA. On the other hand, when it comes to no of downloads and usage, the Asian market has outwitted the rest of the world.
Here are the key drivers for the app economy
The ubiquitous presence of smartphones – The adoption of smartphones around the world is increasing unprecedently to smaller cities and towns. But the price is on the decline.
Today, more than 75 percent of the world population is using mobile technology. And the experience is combined with highly intuitive and flexible user interfaces, and undoubtedly, people are really enjoying it.
Accessibility via app stores
Yes, these app stores are making our life easier than ever. This digital generation has convenient access to this world of varied apps via play stores. Whether it is App Store from Apple or Play Store from Google, they have augmented the usability of mobile devices to another level.
Proximity to the targeted user group
Without a shadow of a doubt, Apps are designed and meant to offer personal user-experience which websites simply can’t provide. Currently, users tend to spend more than 4 hours on their smartphones and accessing apps belong to different categories.
An average smartphone user has 18 to 20 apps on his smartphone. And in a bid to get a more intuitive and personalized experience, this no. will increase and will pave the way for more top mobile app development companies in the USA to develop the apps with more interactive & user-friendly features.
Presenting some of the statistics of the mobile app market
The app industry has shown some of the biggest growth in the technology market, especially in the last decade. And by seeing the success rate, there is no sign of its early stoppage. See the figures yourself and witness the growth.
In the year 2012, the mobile app’s financial state was around $53 billion and it went up to $63.7 billion by the year 2016.
As per the trends produced by App development company, it will go up to $190 billion worldwide by the year 2020. Or it can go beyond it.
If we compare all the stats and see them all together, all the stats are telling the narrative of the success of the mobile app market. And surely the technologies like Augmented Reality, Virtual Reality, Internet of Things, and Machine Learning will make this technology more exciting than ever. Click here