Global Mobile Applications Segment Forecasts up to 2017
The global mobile applications market has shown promising growth in recent years on account of several factors. These include: a dip in mobile data rates, adoption of revenue-sharing models, and a growing usage of smartphones worldwide. This report offers insights into the fast-expanding mobile applications market, and analyzes the factors that will drive this growth ahead.
This market research report discusses in detail all key trends and factors that will have a measurable impact on the mobile applications market. We make use of industry-leading tools and proven methodologies to arrive at market figures that are quoted in this report. Besides quantitative and qualitative analysis of the mobile applications market, the report also presents a panoramic view of the competitive landscape to help you understand the recent developments and strategic initiatives of your competitors.
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This in-depth study on the global mobile applications market takes into account downloadable applications (not web-based) or native mobile apps for mobile devices such as smartphones and feature phones.
Overview of the global mobile applications market
With the mobile applications market currently being in a phase of high growth, its dynamics are ever-changing. The high penetration of smartphones, and consequently mobile applications, has made the latter a lucrative advertising channel. The ability to use mobile applications to advertise third-party products and services has resulted in the development of unique revenue models. In many cases, app developers/owners are thus able to provide free or heavily discounted applications to users. This factor has helped in attracting and retaining a large consumer base.
Nearly every major brand in the world has recognized the need to add mobile applications to their sales and marketing initiatives. Application stores are thriving because of this proliferation of mobile applications. It is estimated that the average number of mobile applications per brand is 25. For some global media behemoths, this number touches 250. While companies are a far way from using mobile applications as a direct revenue generator, these applications certainly heighten their brand equity.
Another aspect that has supplemented the growth of the global mobile applications market is a surge in app stores and multi-platform apps. In the app store segment, the Apple App store continues to stay firmly on top, and it is the ‘store of choice’ for nearly every major brand. The Android market has gained momentum as well, with as many as 50% of major brands now saying that they prefer to publish their applications on the Android Market.
However, the Amazon App Store – a relatively new entrant in this market – has outperformed a number of native app stores by grabbing nearly 14% of brand mobile app publications.
The global mobile applications market presents immense potential for publishing local apps that are designed with the target audiences’ country, occupation, lifestyle preferences, income, and age in mind.
By category, games remain the largest segment in the mobile applications market. This segment has managed to hold to this position despite the declining average pricing of games. Revenue from this segment saw a 72% year-on-year increase.
The games segment was trailed by the personalization and social mobile applications segment.
Apple is the leading mobile applications platform and our market experts anticipate that it will retain the top slot for the next five years. The leading mobile application regions, by revenue and downloads are: South Korea, United States, and UK.
Yet, this market needs to contend with a number of restraints. First, the widespread use of applications has made consumers vulnerable to data theft via spyware, malware, and phishing. Second, applications now need to go beyond providing recreational or entertainment value. This lack of industry-specific products is preventing the global mobile applications market from reaching its full potential.
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The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.