Mobile Application Development Platform Market Synopsis:
Since the introduction of mobile application back in 2008, the trends of these have changed over the years. A forecast from Market Research Future report highlights on the mobile application development platform market that by 2023, the market value will rise USD 14 billion while at the rate of 22% CAGR. The growth of the market is going to be held from 2018 to 2023.
This is one of the best welcoming news for all the small and medium-sized businesses that are entering the market of Mobile Application Development Platform Market and in the line of creating a buzz about their products and services. With the hastily progressing mobile landscape and increased use of the internet along with lean methodology in mobile app development, enhancing branding position and recognition, improving customer engagement resulting in a considerable mobile app development growth. With the advent of the latest trends in mobile app development, there is no longer a big deal for the companies dwelling in this service.
In support of the information, let us take a look at current trends that is motivating the mobile app development growth.
In today’s time, no matter how useful or mind-blowing a technology is presenting by giant companies, people will only feel it helpful when there is talk of total security in it. As we know that there has been more awareness being around about threats created through cyber-attacks and the after-effects of threats that can inflict will critical data on the internet. For instance, banking applications run with the highest risk of being attacked that targets on personal data of people associated. In fact, another incident was recorded in late 2016, two hackers were able to steal the email address, names, and mobile phone number of 57 million users of the Uber app.
Such situations creating urgency came in front to offer enhanced security that felt throughout the mobile app development platform market. As a result, the latest mobile app developers work on strict guidelines with significant emphasis on security.
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Major Key Players:
The prominent players in the market of mobile application development platform are Kony Inc.(U.S.), Globo (U.S.), EchoStar Corporation (U.S.), ViaSat Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Progress Software Corporation (Germany), Salesforce.com Inc. (U.S.), Halosys (U.S.) and among others.
Instant Apps Offers Massive Potential:
In the current world of mobile applications, instant apps are working instantly by tapping on the URL at once. Such technology has served in eliminating the need to download and install apps on the smartphone. But in this, as the app users might be on the rise, but people still have their uncertainties when it comes to accepting such new apps. As per Market Research Future, more than 50% of smartphone users in the U.S download zero new apps per month.
Also, 21% of users uninstall an app after first use. The users usually rely a great deal on App Store reviews to give new apps a try. Instant apps, in this way, often puts an end to all that. Even its most crucial role lies in simplifying online payments.
While, in the case of e-commerce apps, if you’re a new user, there needs to fill your card details in the first manually. Instant apps offer more convenient solutions, wherein customers can make payment directly using Google Pay or Apple Pay. This approach presents the potential to take mobile commerce transactions through the roof. Hence, there’s every reason instant apps are given substantial attention and give more push in the mobile app markets to expand.
IoT Offers Endless Promises:
The monarchy of the Internet of Things (IoT) offers a lot to the mobile application development platform. As we see that the smart home solutions have many critical operations on a digital note such as cameras, doorbells, alarm systems, locks, smoke alarm as well as some exciting smart personal assistants like Amazon Echo or Apple HomePod and Google Home. All these are connected with mobile applications that offer all operations through it.
Smartphones carry some of the most efficient features such as GPS and multiple connectivity options that offer Bluetooth, Wifi, and NFC, which are essential for utilization IoT. As a result, we will be observing the rise in demand for mobile app’s concurrent with the proliferation of IoT.
More Development of Augmented Reality (AR) and Virtual Reality (VR) Apps:
AR and VR are acclaimed as a futuristic technology and going to become a pivotal role in mobile app development. Towards the gaming apps, augmented reality’s application can extend massively into eCommerce & marketing apps in the future.
There has been some evolving prediction that by the year 2020, 100 million consumers will shop online and store where AR technology is used. Augmented reality presents users to interact with content in a specific way. This will encourage leading mobile app developers to set high standards for user interface design.
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Brief Table of content
2.2 Scope of the Study
2.2.1 Research Objective
2.3 Market Structure
2.4 Market Segmentation
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.