The mobility factor of smartphones has relentlessly reshaped all industries. Since years now, mobile has overtaken desktop convention, and that gap is increasing day by day. Now mobile isn’t just a mere device but it has become a mentality. As a result, apps have become a fundamental part of our lives.
The technological market is expanding at a breath neck pace and so is the mobile industry. Statista, 2018 reports Global mobile data traffic is projected to increase nearly three times in the year 2018 to 2021. With over five million apps developed for Apple’s App Store and Google Play Store, Mobile Application Development is increasingly in demand.
Over the years the mobile app development services have also grown exponentially. According to eMarketer, average Americans spend fifty minutes on audio mobile apps and forty minutes on social media, among other favourites such as gaming, messaging and mobile video.
Now let’s have a glance at some relevant stats about mobile app growth.
1. Money matters a lot
People are largely interested in the free stuff available. 95% of the android apps and 90% of the iOS apps are free. According to build fire mobile applications are expected to generate 189 billion dollars by 2020. Monetization strategies like the in-app purchase help to roll in the profits even if the app is free for download. Your app needs to be downloaded to be successful. As long as people install the app, it will generate money.
2. The market is jam-packed
The mobile application market is crowded and this crowd continues to grow and evolve more and more. The competition is tough and there is no end to the number of apps that be made possible. As per the reports by Statista, there were 1.8 million apps on the Apple App Store and 2.47 million apps on Google Play in the 3rd quarter of 2019.
3. The viewers are global
As per reports by Business Insider, India is leading the way for app download growth, followed by the US and Brazil. Most of the app downloads were from China accounted for nearly 50% of global app downloads, 19% from EMEA, 17% from AMER and 64% came from the APAC region.
4. Social media apps are the highest downloaded apps
Social media has topped the charts with WhatsApp topping the list with 223 million new installs, followed by FB’s Messenger app, with 209 million installs as reported by SensorTower.
One of the fastest-growing social media platforms in the world, TikTok had an impressive 70% download in just one year.
Global mobile gaming is anticipated to represent 57% of the market share in the coming year. The commencement of 4G/5G will enhance cloud gaming services even further.
Attractive deals and discounts offered are the top rousing factors when deciding whether to install an app or not. (Think with Google, 2016)
5. Design and performance matters
Mobile app development services are now focusing on predictive analytics and artificial intelligence which will be used in future apps to offer better UX and UI. Let’s glance through some of the reasons why users prefer mobile apps.
User-friendly apps will continue to be in demand. 78% of people favor accessing a store from an app over its mobile website.
App performance is more important than its design. Customers will continue to use an app only if it proves to be efficient, functional and performs properly. Studies depict that 59% of consumers uninstall an app if it’s too slow. It was concluded that 52% of users are less likely to prefer that brand with whom they had bad mobile experiences.
6. Mobile commerce has increased
Online shopping is the latest buzz and ninety percent of the world’s population is connected to the internet. Online shopping is one of the top online activities reported for smartphone owners. Apple Pay and Google Pay have boosted mCommerce. Hence it’s a must to have a mobile-first payment gateway on your mobile app.
7. Mobile App usage is growing
Reports by Statista suggest that by 2020, there will be 6.95 billion mobile users across the world. Mobile devices generate nearly fifty percent of the global website traffic. The future is all about the next generation, Generation Z (ages 16-24) of mobile users. Generation Z will account for forty percent of all consumers by 2020.
Users interact with mobile apps in a different way looking upon the app category and vertical. The in-app activity, retention rates, and session duration all are subjected accordingly. Mobile-first companies are dignified to capture as many customers as they can get over the enterprise market.
Generation Zapp users desire videos more. 50% of Gen Z says that YouTube is one of the platforms they can’t get over. Hence if a business is looking to attract Gen Z to its application, they should work on a complete mobile as well as a video tactic.
To sum up, the mobile app industry continues to multiply without any sign of slowing down. And the focus remains on improving Mobile app development services, delivering more value to customers, and meeting their outlooks.
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