FEATURE : MOBILE

Mobile Apps market size to record

US $ 1.09 billion growth from 2023 – 2027 and global smartphone shipments see a ‘ remarkable ’ surge .

The increasing smartphone numbers can link with various IoT devices like watches and glasses through apps . Mobile apps enhance data recording and tracking for analysis by facilitating flexible data sharing among devices compared to web pages .

Consequently , many mobile apps are integrating with IoT devices , the report says .

In February 2020 , Panasonic introduced IoT-connected air conditioners , doorbells , and switches controllable via mobile apps . This trend of IoT-device integration with mobile apps is forecasted to fuel market growth .

The report identifies major market challenges in costs associated with mobile app development and operations :

This growth is expected to occur at a Compound Annual Growth Rate ( CAGR ) of 22.97 % during the forecast period .

The Technavio Global Mobile Apps Market 2023 – 2027 identifies key trends fueling growth arise from the increasing number of mobile apps for IoT devices .

The report outlines demand for IoT devices as rising quickly due to their convenience , versatility and connectivity .

IoT devices connect physical objects via software and sensors over networks with the surge fuelled by their integration with smartphones through mobile apps .

The report projects Smartphone shipments to rise , with smartphones expected to make up over 71 % of all mobile phones globally by 2022 .

• Mobile apps simplify user tasks with technology . Developing inexpensive apps is simple , yet the surge in demand requires additional activities like admin support and maintenance , surpassing development costs . Functional services like SMS , push notifications , and email are vital .

• Admin services include content management and data analytics , inflating overall costs . Hosting on compatible servers and data storage adds complexity . Increasing app loads necessitate more servers , escalating costs .

• The related cost of IT support , fixing bugs , updates and API adjustments . Growing app loads amplify support needs , elevating total expenses for app development , deployment and upkeep .

The report makes specific reference to the Android market , saying , over the projected period , this market segment is expected to experience significant growth .

The Android operating system serves as a crucial platform for mobile app publication .

Profitable apps such as Google Drive and Tinder are prominent examples available on the Google Play Store .

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