The
market was valued at US$ 16.97 Bn in 2013 and is expected to reach
US$ 54.89 Bn by 2020, growing at a CAGR of 16.2% from 2014 to 2020.
North America was the largest contributor to the global mobile
applications market in 2013 while Asia Pacific is expected to be the
fastest growing regional market for mobile applications during the
forecast period from 2014 to 2020. The high growth of mobile
applications in Asia Pacific is majorly due to the high penetration
of smartphones in the region. Countries such as China, India, South
Korea and others are expected to generate high demand for mobile apps
during the forecast period.
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Mobile Applications Market Report with Full TOC at
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The
mobile applications market is majorly driven by the rising market for
smartphones across the world. Due to the development of highly
sophisticated smartphones with advanced features, the demand for
smartphones is expected to rise substantially during the forecast
period. This is anticipated to boost mobile applications growth
substantially. Furthermore, growing advancements in cellular internet
and rising penetration of internet services globally, is expected to
spur the growth of mobile applications market over the forecast
period. However, mobile websites pose major challenge to the growth
of mobile apps. This is due to the better features and interface
offered by mobile websites over mobile applications.
The
most common and popular type of mobile applications include games and
entertainment apps. In 2013, the games and entertainment mobile apps
segment accounted for the largest share of around 40% in the global
mobile applications market.
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Geographically,
Asia Pacific dominated the global mobile applications market in 2013
with the share of around 36% of the global market. The high demand
for mobile applications from Asia Pacific is due to the rapid
penetration of smartphones in China, India, Australia and others.
The
major companies involved in the development of mobile applications
include Apple, Inc., Google, Inc., Blackberry Ltd., QBurst,
Sourcebits,Inc., Softeq Development Corporation, WillowTree Apps,
Inc., Microsoft Corporation, Handmark Inc., OpenXcell Tehnolabs Pvt.
Ltd., Y Media Labs, Inc. and others.
The
report studies the global mobile applications market, and provides
estimates in terms of revenue (US$ Bn) from 2012 to 2020. Market
estimates are provided on the basis of store type, category and
geography. The market has been segmented as follows:
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Press Release Of Mobile Applications Market
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Mobile
Applications Market Segmentation:
Mobile
Applications Market, by Store Type
- Native (On-deck)
- Third-party (Off-deck)
Mobile
Applications Market, by Category
- Games and Entertainment
- Productivity
- Social and Personalization
- Music Audio and Lifestyle
- Travel and Navigation
- Others (Business, Finance and Utilities)
Mobile
Applications Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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