The mobile applications market is growing rapidly owing to rising users of smart phones. Increase in the number of mobile data subscribers is also another factor which is likely to drive the market over the coming years. The market is expected to reach about USD 75 billion by 2017.
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The essential factors which drive demand for the mobile applications market are augmented marketing and advertising of mobiles, surge in demand for video games, low cost for data usage and innovations in networking. However, the lack of skilled business and other applications are the major restraints for the mobile applications market.
The mobile applications market can be categorized into mobile applications, application stores and geographies. Mobile applications can be segmented into user engagement analysis, mobile applications advertising and mobile applications category. The mobile applications category is divided further into social networking applications, entertainment, travel, books, business and finance, navigation, lifestyle, etc.
The application stores market can be fragmented into on-deck applications and off-deck applications. On-deck applications include android markets, apple app stores, nokia OVI stores, Samsung apps, blackberry app world, Microsoft windows marketplace, and palm apps. On the other hand, off-deck applications comprise getjar, handmark and pocketjr.
The Asian Pacific market, especially China and India have shown rapid growth over the last few years. The markets of North America and Europe are saturated. Also, war between carrier operators is likely to drive further demand for the mobile applications market. The global market has registered around 6.4 billion downloads in 2009. It is expected to grow rapidly with increased subscribers and smart phone advancements.
Information Source: Grand View Research