The history of mobile applications comprises key milestones
such as the origin & prediction of the “mobile application” concept, the
home screen era, services for mobile applications, and the information
application approach. The inclination of urban population toward smartphones
and mobile apps is greater than the rural population.

Moreover, the urban population is increasing rapidly which
in turn is driving the global mobile
applications market. The introduction to 4G and the rise in demand for 4G
devices. Moreover, internet penetration is growing in rural areas at a faster
rate. This has necessitated an increase in the production of smartphones with
cost reduction which is adding to the growth of the global mobile applications
market.

Growing mobile ad industry, expanding e-Commerce, soaring
smartphone market and growing adoption of Long Term Evolution (LTE) devices are
some of the factors fuelling the growth of mobile applications market across
the globe. The LTE devices, in particular, are anticipated to witness stellar
growth in adoption owing to increasing demand for high speed data connectivity
and growing mobile data traffic.

According to a study by Future Market Insights (FMI) titled,
“Mobile Application Market: Global Industry Analysis and Opportunity
Assessment, 2016 to 2026”, the global market for mobile applications in 2016
was valued at US $38,589.1Mn and is projected to register an impressive 9.6%
CAGR during the forecast period, 2016 to 2026, to obtain a market value of US
$96,128.2 million by 2026 end.

The report enlists leading market players of mobile
applications such as Google Inc., Microsoft and Apple Inc., among which Google
Inc. stood dominant and held the highest share in the global mobile
applications market in 2016. Other prominent companies include Cognizant, CA,
SAP SE, HP, Samsung Electronics Co, Ltd., China Mobile Ltd., Opera Software and
Others.

According to FMI’s report, the Google Play is estimated to
register highest CAGR during the forecast period whereas the Apple App Store is
expected to garner revenues worth more than US $45,000 million by 2026 end,
based on store type. More than 44% revenue share of the global mobile
applications market is expected to be accounted by games segment, based on
end-use. However, travel industry is expected to witness fastest growth at 11%
CAGR over the forecast period.

APEJ is estimated to exhibit the fastest CAGR in the overall
market accounting for more than US $41,800 million during the forecast period,
followed by Eastern Europe and Latin America. However, North America and
Western Europe are also expected to remain lucrative in terms of revenue share
until the end of 2026. North America and Western Europe are poised to generate
revenue worth US $14,979.4 Mn and US $15,597 Mn respectively by the end of 2026
in the global mobile application market.

Click For More Info: https://www.futuremarketinsights.com/reports/global-mobile-application-market

Mobile Application Market Size, Share, Industry Analysis, Future Growth, Segmentation 2026

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