Mobile apps have been part of smartphones for more than a decade, and the mobile app market forms the fastest-growing segment in the mobile industry. While there were only a few app developers who were aware of the prospective opportunity that app development had in the mobile industry, now the scenario has changed.
Thanks to the ever-growing popularity of mobile apps, numerous OS providers and device vendors have launched theirs owns apps, like the oddstrader app. This growing advent of mobile devices alongside apps is perhaps the most significant technical phenomenon in recent times.
Currently, smartphones with featured apps are in vogue, and they have evolved to become the remote control for our lives.
An Overview of Mobile App Market
The app industry has witnessed an immense boom in the last ten years, and it will continue growing in the future. The growth is primarily due to the high potential of mobile applications, which is achieved through various steps. Let’s look at how mobile apps have managed to grab such a high position in the current economy in a short period of time.
- Growth of Smartphone Users
With smartphones being affordable, replacement cycles growing short, and data prices reducing, the smartphone industry is rapidly increasing. Presently, everyone wants to have a smartphone on them, especially those with the latest technologies and trends. According to reports, smartphone users had grown from 1.57B in 2014 to 2.53B in 2018, and it is expected to cross the 3 billion mark this year.
- Growth in Mobile App Usage
Mobile has now overtaken the position of the desktop, making it a secondary touchpoint for digital users. With the number of digital users rising, mobile apps now hold nearly 65 percent share of digital media time. If we categorize the digital time based on usage, music will top with the list with 79 percent, followed by health and fitness and social networking at 51 and 49 percent, respectively.
Mobile devices encourage you to spend a lot of your time on them. The 2018 Global Digital Suite of reports predicts the following data related to increased internet and smartphone usage:
- The number of internet users worldwide, which was 4.021 billion, will up 7 percent year on year.
- The number of social media users worldwide, which was 3.196 billion, will up 13 percent year on year.
- The number of mobile phone users, which was 5.135 billion, will up 4 percent yearly.
The time you spent on mobile applications is directly proportional to their development rate. And the above-mentioned data on mobile apps prove that there will be no end to mobile app usage in the upcoming years.
- Growth in Mobile App Downloads
Mobile app users worldwide downloaded 60 percent more apps in 2017 compared to 2015. In other words, nearly two apps were downloaded every month per human being. In 2016, India saw a rapid growth in app download with unlimited 4G access by Reliance Jio.
In September 2016, India also witnessed a rapid growth in app download with Reliance Jio offering unlimited 4G access.
Gartner also shared a report on how mobile app downloads have risen in the past years, and it shows that the graph for worldwide mobile app downloads is getting higher.
The Future of Mobile Apps
With numerous mobile apps being listed on various app stores every day, people might say that the industry is quite saturated. Nonetheless, if you take a closer look, the stats will tell you that it still has a lot of room to grow. So, if you think that this is the limit, then watch out for future predictions.