(PRWEB) September 13, 2013
According to a new market research report, ‘World Mobile Applications Market (2010 - 2015)’ published by MarketsandMarkets, the total global mobile applications market is expected to be worth US$25.0 billion by 2015, out of which, the Apple App Store will account for nearly 20.5% of the total revenues. The global market is expected to record a CAGR of 29.6% from 2009 to 2014.
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Advancement of network technologies, restructuring of revenue-sharing pattern, lowering of mobile data usage cost, growing adoption of smartphones, an increase in application usability have contributed to the growth of mobile application adoption globally. Apart from this, the mobile applications advertising opportunities has allowed publishers to partly (by allowing discounts) or fully subsidize (make application free) applications; this has helped increase the adoption of mobile applications. However, the surge in the number of applications has increased the risk of data theft through delivery of phishing and spyware in applications. The lack of meaningful business applications and specialized mobile applications for specific industries has restricted the growth of mobile application development. The advent of 4G and superior content delivery technologies presents an opportunity for the mobile applications market. The global mobile applications market is estimated to reach $25.0 billion in 2015 from about $6.8 billion in 2010.
The Asian region, especially India and China, have emerged as mobile applications hotspot with the continuous development of cellular markets and the increasing 3G penetrations and expenditure on consumer electronics across the region. In relatively saturated markets, such as the North America and Europe, operator’s subsidies and carrier wars has been fuelling the growth of the mobile applications market in the region.
While the economic recession adversely affected the global markets, the global Mobile applications market was one of the very few markets that did not have impact of the global meltdown. In 2008, mobile applications registered 146% growth in terms of downloads, with over 1 billion downloads compared to 450 million in 2007. In 2009, the mobile applications market again registered high growth by generating 6.4 billion downloads.
The global mobile applications device market is segmented into the submarkets for on-deck and off-deck mobile applications market. The former is the larger segment, accounting for approximately 3/4th of the global mobile applications revenues. However, the off-deck mobile applications segment is expected have a faster growth in the future owing to lowering of entry barriers and faster establishment of new independent stores. It is expected that by the end of 2015, the off-deck mobile application stores will just surpass the number of downloads from on-deck stores.
Each sub-segment of the global mobile applications market is calculated for the four geographical regions of North America, Europe, Asia, and ROW. North America is leading the market in 2009 with a 41.6% revenue share; however, Asia is the largest market in terms of downloads with 36.0%. The European mobile applications market stood at $1.2 billion in 2009 which is expected to become largest market in 2015 at 8.4 billion growing at a CAGR of 33.6% during 2010 - 2015.
Market participants’ strategies vary by geography due to differing method of payments, subsidies, and levels of competition among vendors.
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