Description
Mobile apps are top-rated right now, offering direct connections with users and making businesses more productive.
With a whopping 8 million apps on iOS and Android, the industry keeps growing. The money made from these apps is huge and expected to reach a massive $673.80 billion by 2027.
In 2024 alone, global spending on apps is predicted to surpass $53 billion, bringing in a whopping $541.1 billion in revenue.
This growth opens up enormous opportunities for businesses.
Professionals like CIOs, app developers, programmers, engineers, and UI/UX designers focus on creating special and eye-catching apps to meet specific needs.
They’re adapting to the top trends of 2024 for even more impact
Trends that we are expecting in global market 2024
Mobile Application Market size & Trends
The global mobile app market was worth $228.98 billion in 2023 and is expected to grow at a rate of 14.3% from 2024 to 2030. This market includes apps for gaming, health, music, social networking, retail, and more.
The widespread use of smartphones, increased internet usage, and the integration of technologies like AI and machine learning suggest a continued rise in demand for mobile apps. These apps are commonly downloaded from platforms such as the Google Play Store and the iOS App Store.
Application Category Insights
In 2023, gaming apps solidified their position as the frontrunners in the mobile market, commanding a significant share of over 34.0%. This trend is poised to persist, propelled by the burgeoning gaming community, particularly in China and India. As populations in these regions continue to swell, the surge in mobile gaming app usage is anticipated to mirror this growth. Notably, the landscape of game development revolves around three major operating systems: iOS, Android, and Windows.
Reflecting on trends from 2021, Android witnessed a surge in game downloads, whereas iOS outshone in revenue generation, largely due to its prevalence of paid games. The gaming app segment stands as a pivotal driver of revenue, with expectations for its financial strength to endure. Looking ahead, sustained dominance appears inevitable, buoyed by the ongoing expansion of the gaming populace in key global economies.
But We have the finest vision for 2024 with selected application categories.
Prediction for the application development 2024
- Social Media Applications
- Applications for Messaging, Chatting, and Video Calling
- Applications for Video Streaming
- Financial Applications
- On-Demand Applications for Booking, Delivery, and E-Commerce
- Gaming Applications
Overview of all the application categories
Social media applications, like Facebook and Instagram, have become essential for entertainment and networking, with the majority of users spending 4-5 hours daily on platforms such as Threads and Snapchat.
Online video streaming services, including YouTube, Netflix, and Disney+ Hot star, offer global entertainment options, attracting regular usage from users around the world.
Financial apps witness widespread use, with 6 out of 10 people preferring online finance apps for easy management, and digital wallets like Google Pay and Apple Pay being popular for transactions.
On-demand services, such as online bookings, shopping, and food delivery apps, experienced a surge in user base post-COVID-19, creating new business opportunities globally.
The gaming industry, with popular games like Candy Crush and PUBG, is evolving with Web 3.0 technology, providing exciting features and experiences for a dedicated user base worldwide.
If you’re inspired to dive into mobile application development, let’s turn your vision into reality. Reach out to us today, and let’s bring your app idea to life together!
