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Convenience and instant gratification have become the themes of the 21st century and literally having almost anything you need at your fingertips is what makes mobile apps so popular...and this popularity grows year after year.
Let's look into the background of the mobile app industry and talk about how it is set for even more growth and success in 2020.
The Rise of The Mobile App IndustryMobile apps were spurred by the ever-increasing popularity of the smartphone. In fact, the app market is the fastest-growing segment of the mobile industry.
Smartphones and their many apps have become a necessary aspect of many lives. With a smartphone at your side, you don't have to worry about getting lost because your navigation is at your fingertips, always. And Apple's Siri is a pocket-sized personal assistant, helping us access our data more easily and quickly than ever before.
Monetization in the form of in-app purchasing and advertising resulted in even more growth for the industry.
The gaming segment is another contributor to the success of mobile apps and growth is set to continue with video game developers like EA Sports creating game apps with high-end graphics.
Even businesses have taken advantage of the mobile app market, with many developing their own apps to streamline their internal operations and increase collaboration with third-parties like customers and external stakeholders.
Predicted Growth in 2020 and BeyondThe past decade has seen tremendous growth in the way we use and create mobile apps. In 2020 we're expected to see a global mobile app revenue of close to 582 billion dollars. By the year 2021, the global app industry will be worth a whopping 6.3 trillion dollars. We'll also see a user base of 6.3 billion people.
The industry is experiencing an annual growth rate of more than 25 percent.
The ease-of-use of mobile apps plays a part in the increasing number of users and the success of the industry. New apps continue to focus on enhancing the end-user experience, creating a seamless, intuitive experience.
No Signs of Slowing DownAlmost 80 percent of the world uses smartphones, and the heart of a smartphone lies in its many apps.
The people using these apps are of different age groups, with apps to keep toddlers engaged, to help school-age children learn math or reading and to assist adults with nearly anything that we need help with.
In these ways the mobile app industry has changed life as we know it...and it doesn't show any signs of slowing down.
Yes, "there's an app for that"...but more so, there's an app for everyone.
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