World Mobile Applications Market Worth US$25 Billion by 2015 - New Report by MarketsandMarkets
(PR Web Via Acquire Media NewsEdge) (PRWEB) March 15, 2014
According to a new market research report, ‘World Mobile Applications Market (2010 – 2015)’, the total global mobile applications market is expected to be worth US$25.0 billion by 2015, out of which the Apple App Store will account for nearly 20.5% of the total revenues. The global market is expected to record a CAGR of 29.6% from 2010 to 2015.
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Advancement of network technologies, restructuring of revenue-sharing pattern, lowering of mobile data usage cost, growing adoption of smartphones, and increase in application usability have contributed to the growth of mobile application adoption globally. Apart from this, the mobile application advertising opportunity has allowed publishers to partly (by allowing discounts) or fully subsidize (make application free) applications; this has helped increase the adoption of mobile applications. However, the surge in the number of applications has increased the risk of data theft through delivery of phishing and spyware in applications. The lack of meaningful business applications and specialized mobile applications for specific industries has restricted the growth of mobile application development. The advent of 4G and superior content delivery technologies presents an opportunity for the mobile applications market. The global mobile applications market is estimated to reach $25.0 billion in 2015 from about $6.8 billion in 2010.
The Asian region, especially, India and China have emerged as mobile applications hotspot with the continuous development of cellular markets and the increasing 3G penetrations and expenditure on consumer electronics across the region. In relatively saturated markets, such as the North America and Europe, operator’s subsidies and carrier wars has been fuelling the growth of the mobile applications market in the region.
While the economic recession adversely affected the global markets; the global Mobile applications market was one of the very few markets that did not have impact of the global meltdown. In 2008, mobile applications registered 146% growth in terms of downloads, with over 1 billion downloads compared to 450 million in 2007. In 2009 the mobile applications market again registered high growth by generating 6.4 billion downloads.
The global mobile applications device market is segmented into the submarkets for on-deck and off-deck mobile applications market. The former is the larger segment, accounting for approximately 3/4th of the global mobile applications revenues. However, the off-deck mobile applications segment is expected have a faster growth in the future owing to lowering of entry barriers and faster establishment of new independent stores. It is expected that by the end of 2015, the off-deck mobile application stores will just surpass the number of downloads from on-deck stores.
Each sub-segment of the global mobile applications market is calculated for the four geographical regions of North America, Europe, Asia, and ROW. North America is leading the market in 2009 with a 41.6% revenue share; however Asia is the largest market in terms of downloads with 36.0%. The European mobile applications market stood at $1.2 billion in 2009 which is expected to become largest market in 2015 at 8.4 billion growing at a CAGR of 33.6% during 2010 – 2015.
Market participants’ strategies vary by geography due to differing method of payments, subsidies, and levels of competition among vendors.
The report also analyzes mobile applications market based on operating system; and also offers market analyses of application segments such as consumer and business mobile applications. In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the mobile applications markets in the North America, Europe, Asia, and Rest of the World (ROW). The report draws the competitive landscape of the global mobile applications market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
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