Global Mobile Applications Market to Reach $307 Billion by 2031

The global mobile applications market is rapidly growing and is expected to reach a value of over $307 billion by the end of the forecast period (2021-2031). The market is projected to rise at a CAGR of 12.4% over the next ten years, driven by increasing demand for mobile devices and the growing popularity of mobile commerce. The market is dominated by leading players such as Google, Apple, and Samsung, which are focusing on strategic acquisitions, mergers, and technology advancements to consolidate their shares in various regions.

Key Takeaways:

The global mobile applications market is valued at $112.6 billion and is expected to reach $307 billion by 2031, growing at a CAGR of 12.4%.
Google accounted for the major share of 41% in 2021, while Apple Inc. accounted for 21% in the global market.
The games segment is anticipated to hold a significant share during the assessment period, contributing almost 1/2 share in the global market.
The Asia Pacific region dominates the global market, accounting for a share of 33.5% in 2021.
The rising adoption of next-generation telecommunication technologies, such as LTE and 5G, is expected to open up promising avenues for market players.
The demand for more automated applications, especially in the gaming world, is a key factor expected to catalyze the growth of the market.
Integrated and smarter mobile apps are expected to create lucrative avenues for market players, driven by the adoption of augmented reality mobile apps.
The market is driven by the growth of mobile commerce, particularly among working populations in developed and developing regions.

Statistics:

The global mobile applications market is projected to grow from $112.6 billion in 2021 to $307 billion by 2031, demonstrating a CAGR of 12.4%.
Google accounted for a 41% share of the global market in 2021, while Apple Inc. accounted for 21%.
The games segment is anticipated to contribute almost 1/2 share in the global market.
The Asia Pacific region accounts for a global share of 33.5% in 2021.
The global mobile applications market is expected to grow at a CAGR of 12.4% over the next ten years.

Sources:

Persistence Market Research

+ "Global Mobile applications market: Industry Analysis and Forecast, 2021-2031"

+ "Global Mobile applications market: Industry Analysis and Forecast, 2021-2031" - Methodology

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