Mobile Application Market GLOBAL GROWTH in Users

Global Market Study on Mobile Applications:
Games Use Segment to Reach a Market Valuation
of US$ 43.99 Billion by 2024 end
R e s e a r c h
Report Media Releases
Global Mobile Application Market Revenue to Register a
CAGR of 11.1% by 2024; Increasing Demand for Game
Apps Likely to Fuel Market Growth
Persistence Market Research delivers key insights on the global mobile application market in a
new report titled, “Global Mobile Application Market: Industry Analysis and Forecast, 2016–
2024”. The global mobile application market is projected to register a healthy CAGR of 11.1%
M a r k e t
during the forecast period 2016-2024. The market is likely to witness an absolute dollar
opportunity of US$ 50.47 Bn between 2016 and 2024.
Market dynamics
Rising disposable income increases the probability of consumer spending on media,
entertainment, networking, and mobile communication; leading to higher potential sales of
mobile applications. The instances of mobile application adoption are very high among the urban
population as compared to the rural population – and hence there is high demand for mobile
applications in developed regions (where the urban to rural population ratio is higher than
developing regions). These factors have led to a rapid growth of the global mobile application
P e r s i s t e n c e
market over the last few years and this trend is likely to continue in the coming eight years.
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research/mobile-applications-market.asp
The global mobile application market is expected to witness substantial growth over the forecast
period owing to advancements in the electronic, telecommunication, and m-commerce
industries. Leading global smartphone manufacturers such as Apple Inc., Samsung Electronics
Co. Ltd., Huawei Technologies Co. Ltd., Lenovo Group Limited, LG Electronics Inc., Microsoft,
etc. are making strategic investments in the development and production of their own application
processor (AP) to differentiate their offerings and maintain increased market share and margins.
There is also a rising trend of m-commerce particularly among the working population, and this
has increased the demand for mobile applications. Growing internet penetration and rising
subscription in social media are some of the other key factors driving the growth of the global
mobile application market.
Global Mobile Application Market 2016-2026
R e s e a r c h
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Among regions, North America is expected to dominate the overall global commercial
refrigeration equipment market over the forecast period. Sales of commercial refrigeration
equipment in North America is projected to increase from US$ 7,960.7 Mn in 2015 to US$ 12.54
Bn by 2026. Growing Asian economies such as China and India are expected to witness
relatively faster growth during the forecast period. The China commercial refrigeration equipment
market is expected to grow with the highest value CAGR of 8.2% in the forecast period. The
market in Asia Pacific excluding China is expected to register a relatively high CAGR of 5.3%
throughout the period 2016-2026.
M a r k e t
The global mobile application market is segmented on the basis of Store Type (Apple App Store,
Google Play, Others); End Use (Games, Social Networking, Healthcare, Books, Music,
Productivity, Education, Entertainment, News, Photos and Videos, Navigation, Travel, Business,
Others); and Region (North America, Latin America, Europe, Asia Pacific, and Middle East &
Africa).
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The Apple App store segment is estimated to account for a revenue share of 47.2% in 2016. The
P e r s i s t e n c e
Google Play segment is anticipated to reach a market valuation of US$ 17.22 Bn by the end of
2016 and this is expected to increase to US$ 43.53 Bn by 2024 end, registering a CAGR of
10.8% over the forecast period. The Games end use segment is estimated to be valued at US$
18.45 Bn by the end of 2016 and this is expected to increase to US$ 43.99 Bn by 2024,
witnessing a CAGR of 11.7% over the forecast period. As compared to the other segments, the
Games segment is expected to exhibit a relatively high attractiveness index over the forecast
period.
Among regions, APAC is estimated to be the largest market for mobile applications throughout
the forecast period. The APAC mobile application market is estimated to be valued at US$ 15.94
Bn by the end of 2016 and is expected to increase to a market value of US$ 41.97 Bn by 2024,
registering a CAGR of 10.6% between 2016 and 2024. The North America mobile application
market is estimated to account for a revenue share of 21.0% in 2016.
Global Mobile Application Market 2016-2026
operating in the global mobile application market. The companies featured in the report are
Google Inc., Microsoft, CA, Cognizant, Hewlett Packard Enterprise Development LP, SAP SE,
China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., and Opera Software. Top
market companies lay strong emphasis on strategic mergers and acquisitions, technology
advancements, and competitive pricing to retain their position in the global mobile application
market.
P e r s i s t e n c e
M a r k e t
R e s e a r c h
The global mobile application market report profiles some of the leading market players
Global Mobile Application Market 2016-2026
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M a r k e t
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Global Mobile Application Market 2016-2026