Significant turning points in the history of mobile applications include the term's inception and prediction, the home screen era, services for mobile applications, and the information application approach. With a projected CAGR of 9.6%, the market for mobile applications will grow globally, reaching US$ 96,128.2 million in 2026. Smartphone and mobile app use is more prevalent among urban residents than rural residents. The mobile applications market is also being driven by the fast growing urban population. 4G's launch and the subsequent increase in demand for 4G devices Additionally, internet usage is expanding more quickly in rural areas. This has made it necessary to produce more smartphones at lower costs, which is assisting in the expansion of the global market for mobile applications.

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Global adoption of Long Term Evolution (LTE) devices, booming smartphone sales, expanding e-commerce, and the growing mobile ad business are some of the factors driving the growth of the mobile applications market. Due to rising demand for high-speed internet access and rising mobile data traffic, LTE devices in particular are expected to experience phenomenal rise in acceptance.

The global market for mobile applications was estimated to be worth US $38,589.1 million in 2016; however, a Future Market Insights (FMI) study titled "Mobile Application Market: Global Industry Analysis and Opportunity Assessment, 2016 to 2026" predicts that the market will grow at an impressive 9.6% CAGR from 2016 to 2026, reaching a final value of US $96,128.2 million. The research includes prominent mobile app industry participants like Google Inc., Apple Inc., and Microsoft Inc., among which Google Inc. dominated and owned the largest share of the worldwide mobile app market in 2016. Other well-known businesses include HP, Samsung Electronics Co., Ltd., China Mobile Ltd., Opera Software, Cognizant, CA, SAP SE, and others.

The Apple App Store is anticipated to generate revenues worth more than US $45,000 million by the end of 2026, while the Google Play is predicted to have the highest CAGR over the projection period. According to end-use, the games segment is anticipated to account for more than 44% of the market's revenue. However, the travel sector is anticipated to develop at the fastest rate during the forecast period, at 11% CAGR.

According to estimates, APEJ will grow at the quickest rate in the global market, which will account for more than US $41,800 million over the projected period. Eastern Europe and Latin America will follow. But through the end of 2026, North America and Western Europe are also anticipated to continue to be lucrative in terms of revenue share. By the end of 2026, the global market for mobile applications is expected to earn revenues worth US $14,979.4 Mn and US $15,597 Mn, respectively.

Mobile Application Market – Google Play trumps the Apple App Store in APEJ

In wealthy areas of the world like North America and Western Europe, the Apple App Store is king. But in the APEJ region, it is far from the Google Play Store. In the APEJ mobile application market, Apple App Store revenue in 2016 was close to $5 billion, while Google Play revenue in the same year was close to $8 billion. This revenue gap should widen to around $10 billion in Google Play's favour by the year 2026, making it even more obvious. For the forecast period, the CAGR for the Google Play category is expected to be 12.4%.

Global Mobile Application Market: Segmentation

By Store Type

  • Apple App Store
  • Google Play
  • Others

By End Use

  • Games
  • Media & Entertainment
  • Healthcare
  • Education
  • Travel
  • Shopping
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ excl. Japan
  • Japan
  • MEA