Apps

Mobile App Development Set to Become $77 Billion Industry

Apps

Over 91% of the population in the U.S. has a mobile phone, and 6 people in 10 of them have a smartphone. With the use of smartphones increasing day by day, the world is seeing a rise in the development of mobile applications. By 2016, over 10 billion of mobile internet devices are likely to be used. The mobile app industry is expected to show a tremendous growth to meet the demands and keep pace with the constantly evolving technologies.

Presently, developers are focusing on apps in various fields like mobile payment systems, object recognition, mobile commerce, mobile search, location-based services, context-aware marketing and social networking.

Below appear some data and statistics showing that the mobile app development industry is following a trajectory leading it to a very bright future. If you are a business owner, after reading all these statistics, you would be compelled to think that it’s really important to have an app for your business, in this smartphone era.

Mobile Apps

Mobile Use is Continuously Rising

• Out of the 91% of the adult population in the U.S. owning a mobile phone, 61% used smartphones.
• In 2015, 1 billion units of smartphones are expected to be sold, which is twice the number of computers to be sold.
• By 2016, the number of mobile devices per person in the world would be 1.4.
• By 2016, the world population is estimated to reach 7.3 billion, and 10 billion mobile internet devices are estimated to be used globally.

Use of Mobile Applications (As of the end of 2013)

  • In the U.S., half of the adult mobile phone users have apps in phones.
  • Out of the total app downloaders, 68% actually use the apps, 57% use the apps on a daily basis, 51% use a few apps once a week, 31% use about 6 apps or more per week, and 24% use apps for over 30 minutes per day.
  • The average number of apps used by each mobile user is 26.8. This is a 31% increase from 2012.
  • App use by people in the age group 18–24 years is 28 apps per mobile.
  • App use by people in the age group 25-34 years is 29.5 apps per mobile. This is the maximum app use among all the age groups.

Download of Apps

  • In July 2013, the Android market of Google crossed 50 billion of app downloads, and it displayed more than 1 million of apps in Google Play Store.
  • In June 2014, Apple saw 75 billion of app downloads, and it displayed about 1.2 million apps in iTunes store.
  • By 2017, more than 268 billion of app downloads are estimated to be done, and a revenue of $77 billion is likely to be made.

Spending Money for Apps

  • 46% app downloaders have paid to download an app.
  • 52% have paid a highest amount of $5 or less.
  • 17% have spent an amount greater than $20 for getting an app.
  • Of all people downloading apps, the groups likely to pay for the apps are people residing in urban cities, adults having household income of $50,000 or greater, college graduates, adults aged 30 years and above, and men.

Revenue of Apps

  • In 2014, the revenue earned by apps was $11.4 billion. In 2016, the revenue is estimated to reach $24.5 billion. Quite an impressive increase, isn’t it?
  • From 2011 to 2016, the global mobile advertising revenue is expected to grow by 400%.
  • By 2015, 1 out of 3 consumer brands are expected to have integrated payment system in their apps.
  • By 2017, in-app purchases are estimated to result in 48% of the revenue of app stores.

Popularity of Apps in Terms of Time Spent Each Month Per Person

  • Time spent on apps related to social sites, portals and search – 10 hours and 56 minutes
  • Time spent on apps related to entertainment – 10 hours and 34 minutes
  • Time spent on apps related to communication – 3 hours and 48 minutes
  • Time spent on apps related to productivity and tools – 2 hours and 16 minutes
  • Time spent on apps related to commerce and shopping – 1 hour and 33 minutes

These statistics prove that mobile apps are set to have a very promising future ahead. Make the most of this situation by developing an app for your company or brand. By having an app for your company, you can engage actively with all of your target audience, both PC users as well as smartphone users. If you offer products or services online, having an app can truly prove to be rewarding for you, as it would enable your customers to browse through your store easily using their smartphones and make purchases if intended.

So, go ahead and build your app today.

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