That's at 13.76% per year. Mobile games will lead the way, with a 45.22% share already by 2022. Among the apps with the highest consumer spending are YouTube, TikTok and Tinder.
Market players are focused on developing new strategies: they are actively looking for innovations and buying up competitors. Additionally, advertising and in-app purchases are spurring growth.
Mobile devices are displacing desktop devices: in 9 years, 65% of all time spent on the Internet will be spent on smartphones.
Market players are focused on developing new strategies: they are actively looking for innovations and buying up competitors. Additionally, advertising and in-app purchases are spurring growth.
Mobile devices are displacing desktop devices: in 9 years, 65% of all time spent on the Internet will be spent on smartphones.
Market Dynamics
Growing demand for apps: The mobile app market is growing and consumer spending on apps is also increasing. It has been observed that a user uses media on an average of about 7.5 hours per day including streaming videos.
Growing demand for apps: The mobile app market is growing and consumer spending on apps is also increasing. It has been observed that a user uses media on an average of about 7.5 hours per day including streaming videos.
Limitations
Low internet availability: According to one study, during the pandemic, a decent internet connection was difficult for about 90% of people in low and middle income countries. Less than half of the population in low- and middle-income countries had access to a basic Internet connection, which was insufficient to access basic education, health, and employment services.
Low internet availability: According to one study, during the pandemic, a decent internet connection was difficult for about 90% of people in low and middle income countries. Less than half of the population in low- and middle-income countries had access to a basic Internet connection, which was insufficient to access basic education, health, and employment services.
Regional Segmentation Analysis
The analyzed market regions include: North America, Europe, South America, Asia Pacific, Middle East, and Africa. Asia-Pacific has emerged as the largest market for the global mobile application market, accounting for 33.13% of the market revenue in 2022.
The analyzed market regions include: North America, Europe, South America, Asia Pacific, Middle East, and Africa. Asia-Pacific has emerged as the largest market for the global mobile application market, accounting for 33.13% of the market revenue in 2022.
Opportunities
Increase in time spent on mobile apps: It has been observed that the time spent by users on mobile apps has been increasing over the years. The average time spent on a mobile device was more than 5 hours in 2022 for the mobile-centric market, which is 9% more than during the pandemic in 2020.
Increase in time spent on mobile apps: It has been observed that the time spent by users on mobile apps has been increasing over the years. The average time spent on a mobile device was more than 5 hours in 2022 for the mobile-centric market, which is 9% more than during the pandemic in 2020.
Application Segment Analysis
Application segment: games, music & entertainment, social media, health & fitness, retail & e-commerce, and others.
Application segment: games, music & entertainment, social media, health & fitness, retail & e-commerce, and others.
Some of the Key Market Players:
- Practo
- Gameloft SE
- Microsoft Corporation
- Google LLC
- Amazon Inc.
- Xiaomi Corp.
- Netflix Inc.
- Cure.fit
- Apple Inc.
- Ubisoft Entertainment