Mobile App Development Market Size, Share, Competitive Landscape and Trend Analysis Report, by Platform, by Store Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032

Key Market Dynamics 

The mobile application development market is driven by several key factors that contribute to its growth. One of the primary drivers is the increasing penetration of smartphones and tablets worldwide. As more people rely on mobile devices for communication, entertainment, and productivity, the demand for innovative and user-friendly mobile applications continues to rise. This widespread adoption of mobile technology creates a vast market for developers to create and distribute their applications, driving the growth of the industry. However, the mobile application development market also faces certain restraints that can impact its growth. The significant restraint is the fragmentation of mobile platforms and devices. Developers must create applications that are compatible with multiple operating systems and screen sizes, which can increase development time and costs. Additionally, the competitive nature of the market poses a challenge for developers to differentiate their applications and attract users in a crowded marketplace. Developers can capitalize the trend by creating unique and targeted solutions that provide to specific market segments. The rise of mobile commerce and the increase in integration of mobile applications into everyday life present opportunities for developers to create innovative solutions that streamline processes and enhance user convenience. 

Mobile Phone Usage

Mobile phone usage has become ubiquitous on a global scale, with an estimated 5.27 billion unique mobile users worldwide. This widespread adoption of mobile devices has transformed the way people communicate, access information, and conduct business. From making calls and sending messages to browsing the internet and using mobile applications, mobile phones have become essential tools for everyday life. The convenience and portability of mobile devices have contributed to their popularity, enabling users to stay connected and productive. With the continuous evolution of technology and the increasing availability of affordable smartphones, mobile phone usage is expected to continue to grow in the coming years. 

Market Segmentation 

The mobile application development market is segmented into platform, store type, application, and region. On the basis of platform, the market is divided into IOS, android, and Windows. On the basis of store type, the market is divided into Google Store, Apple Store, and others. On the basis of application, the market is divided into gaming, BFSI, retail, airlines, media & entertainment, education, transport, hotels & restaurants, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Regional/Country Market Outlook 

The mobile application development markets in the U.S, and the UK are both dynamic and competitive landscapes driven by similar trends and factors. In the U.S., the market is characterized by a large and diverse user base, with approximately 277.5 million smartphone users as of 2021. This vast market size presents significant opportunities for developers to create innovative applications that cater to a wide range of consumer needs and preferences. The U.S. market is also known for its robust ecosystem of technology companies, venture capital firms, and tech-savvy consumers, which fosters a culture of innovation and entrepreneurship in the mobile app development sector. Similarly, the mobile application development market in the UK is characterized by a tech-savvy population and a high smartphone penetration rate, with approximately 82% of the population owning a smartphone. The UK market is known for its strong emphasis on design and user experience, with a focus on creating visually appealing and intuitive applications that resonate with consumers. The UK's startup ecosystem and supportive government initiatives also contribute to the growth of the mobile app development sector, providing developers with access to funding, mentorship, and networking opportunities. 

• In May 2023, CodeBuzzers, a leading software development company, announced the launch of its new mobile app development services. The company has been providing top-notch software development services to businesses worldwide for years and is now expanding its offerings to include mobile app development. 

• In April 2023, SaaS startup that specializes in no-code mobile app development, Apptile, raised $2.5 million in seed funding led by Mankekar Family Office and Livspace founder Ramakant Sharma. The startup uses the funds to launch its innovative platform, allowing Shopify businesses to create customized, high-performance mobile apps without the need for coding or design experience. 

• In May 2023, BuildFire, a frontrunner in mobile app development platforms, acquired Bizness Apps, one of its major competitors in the market. This strategic acquisition highlights BuildFire's unwavering commitment towards continuous innovation and growth in the mobile app development industry. The merger promises to improve the customer experience by offering the most extensive and user-friendly app development platform in the market, supported by its easy-to-use interface and abundant feature set. 

Industry Trends 

• In November 2023, Kyndryl, the world’s largest IT infrastructure services provider, and Microsoft Corp., announced their partnership that combined their market-leading capabilities in service of enterprise customers. The deal with Microsoft is Kyndryl’s first since recently becoming an independent public company and provides multi-billion revenue opportunities for the two companies. 

• For instance, in September 2023, Microsoft Corp. and Mercy forged a long-term collaboration using generative AI and other digital technologies to give physicians, advance practice providers and nurses more time to care for patients and improve the patient experience. Mercy will apply generative AI when taking patient calls for actions like scheduling appointments. Beyond the initial call, the AI solution will provide recommendations for additional follow-up actions to make sure all the patient’s needs are met during a single interaction, limiting the need for follow-up calls. 

• In March 2022, Microsoft recently announced it completed the acquisition of Nuance Communication, a speech recognition company and leading provider of conversational artificial intelligence to enhance healthcare artificial intelligence. Completion of this significant and strategic acquisition brings together Nuance’s best-in-class conversational AI and ambient intelligence with Microsoft’s secure and trusted industry cloud offerings. 

Competitive Landscape 

The major players operating in the mobile app development industry include Apple Inc, CA Technologies, China Mobile Limited, Cognizant, Google LLC, Hewlett Packard Enterprise Development LP, Intellectsoft, International Business Machines Corporation, Microsoft Corporation, Verbat Technologies, Amazon and so on. 

Recent Key Strategies and Developments 

• In May 2024, iQOO officially confirmed the launch of the iQOO Neo9S Pro, following teasers hinting at its inclusion of the new MediaTek Dimensity 9300+ chipset. The phone is expected to arrive on May 20th, 2024. For comparison, the iQOO Neo9 Pro boasts a sleek design with options for a glass front and back, or a silicone polymer back. It offers dual SIM capability for added convenience. The phone features a stunning LTPO AMOLED display with a 144Hz refresh rate, HDR10+ support, and impressive brightness levels. Its large 6.78-inch screen provides an immersive viewing experience. 

• In October 2023, Japanese video game developer Capcom, who developed Resident Evil Village, is officially available on Apple iPhone 15 Pro variants and iPads powered with M1 and M2 chips. This game is available on the Apple App Store for iOS and iPadOS. It is a high-end survival AAA title which requires iOS 17 or later and Apple’s latest A17 Pro chip on iPhones and iPadOS 17 or later with M1 or M2 chip on iPads. 

• In August 2023, the Karnataka government planned to launch its own mobile app to aggregate autorickshaws and taxis on the lines of Ola and Uber. The announcement was made by Transport Minister, R Ramalinga Reddy, following a series of meetings with representatives from various transportation sectors, including autos, taxis, contract and stage carriage vehicle owners, tourist operators, and private bus operators. 

• In August 2020, Microsoft recently announced it completed the acquisition of Nuance Communication, a speech recognition company and leading provider of conversational artificial intelligence to enhance healthcare artificial intelligence. 

Key Sources Referred 

1. Forbes 

2. kritikalsolutions.com 

3. truepush.com 

4. appdevelopermagazine.com 

5. ripenapps.com 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mobile app development market analysis from 2024 to 2032 to identify the prevailing mobile app development market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities and mobile app development market share.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the mobile app development market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global mobile app development market size.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global mobile app development market trends, key players, market segments, application areas, and mobile app development market growth strategies.