For more than ten years, cell phones have included mobile applications. The mobile industry’s fastest expanding sector is the mobile app market. There were a select few app developers that understood the great possibility that app development offered in the mobile sector. But the situation has completely altered now. Numerous OS providers and device manufacturers have even started their own app stores in response to the popularity of mobile apps, which is only growing. Perhaps the most significant technological development in recent years is the increasing prevalence of mobile devices and apps. The smartphone has evolved into our new remote control for life and can readily help our small business.
The idea of our lives without cell phones is almost impossible to fathom today. Over the past decade, numerous hardware and software companies have sought to condense all the functions into small devices. From the outdated BlackBerry to the present giant, smartphones have seen a wonderful metamorphosis (iPhone X).
The makers of smartphones strive to have the largest display possible in the smallest possible package. Mobile phones have come a long way in the previous ten years, from small flat displays to curved huge screens. Since this industry will constantly be in need of innovation, this tendency won’t be slowing down anytime soon.
An Overview of the Expanding Mobile App Market
The app market has had tremendous growth over the last ten years, and there is no sign of it slowing down. The size of this industry is indicated by the following statistics:
- The financial status of mobile apps was around $53 billion in 2012, and by 2016, it had increased to $63.7 billion.
- Several researchers even forecast that the global mobile app market will reach $188.9 billion by the year 2020.
With the growth of the app market, in-app advertisements, purchases, and other monetization methods have become more popular. The use of monetization techniques by app developers has increased significantly, according to a Forbes analysis. For non-gaming apps, 49% of app developers chose in-app advertising in 2017; for gaming apps, 79% opted in-app purchases of goods.
Current Technological Trends and Their Potential Future Applications
When compared to a few years ago, the present trend and technical developments have undergone significant change. The development of mobile apps has allowed for the resolution of certain significant problems from the past, such as real-time management. The apps now aim for better and more precise goals. Here are a few tech developments that have played a significant role in the development of the mobile app market and have plenty of space to grow.
IoT (Internet Of Things)
Wearable mobile devices are emerging from pockets. The Internet of Things has considerably increased the networking industry used in apps. Gears are what IoT has changed around us, from developing apps for devices to producing apps for watches. The IoT concept in mobile apps brought the virtual and physical worlds very close together.
With the simple accessibility of internet services and top-notch apps, the eCommerce market is steadily expanding.
Development of AR and VR
In the near future, augmented reality (AR) and virtual reality (VR) will dominate the creation of smartphone apps. Pokémon Go, the newest example of this technology, shows that cross-screen reality interactions are now possible. Even Gartner estimated that millions of consumers would be utilizing augmented reality by 2020. Soon, apps for marketing and online shopping will also catch a glimpse of this technology in addition to gaming.
The size of the worldwide AR/VR industry is predicted to reach up to $209.2 billion by 2022. By 2021, the $108 billion VR/AR market might be mostly driven by mobile AR, with AR accounting for $83 billion of that total and VR for $25 billion.
Evolution of the blockchain
In just a few years, blockchain technology has flourished in the app market. Pick either the artificial or automotive industries to discover how blockchain development is being applied. Blockchain adoption is increasing in the app sector, according to a survey from IBM.
Creating Cloud-Based Applications
Over the past few years, cloud-based apps have become more and more prevalent in the market. Their main benefit is that they minimize the amount of space that apps take up on phones.
In 2014, it was discovered that cloud-based apps received more traffic than traditional apps, and this trend appears to be continuing. These apps are undoubtedly a boon for the eCommerce business due to increased traffic and fewer space requirements.
Faster Mobile Pages
The technology developed by Google called Accelerated Mobile Pages (AMP) is one such innovation that attempts to enhance user experience. It has substantially changed how website content is shown to mobile users. Thanks to AMP, web page load times have decreased. Even the likelihood of AMP pages appearing on Google’s SERP is high. Launched in 2016, the app market underwent a transformation, and it continues to do so now.
Artificial Intelligence and Chatbots
In the modern world, smart prediction is the norm. Even now, when there are vast amounts of data available, you can quickly determine what is ideal for your organization with the most recent AI and machine learning technology.
Funding for AI startups has significantly increased over the past few years. The use of chatbots in eCommerce has skyrocketed. The statistics that follow support these claims:
- According to an IDC estimate, 75% of eCommerce firms will use these intelligent assistants in the upcoming year to boost efficiency.
- By 2020, Chatbots will handle about 85% of customer care interactions, according to a prediction by Gartner.
Location-Based Apps Will Keep the Wheels in Motion
Future growth of the mobile commerce market is projected to be driven by location-based services. Even in the eCommerce industry, location-based searches are on the increase and are expected to keep expanding in the future. Furthermore, a precise location is included in 69% of Google queries. Geo-social services have already piqued the curiosity of app users. Therefore, looking into this aspect is a requirement if you want to stand out from the crowd.
Restrictions on Increased Security
The next big thing in terms of data security is emerging biometric security choices. Since Apple released the Touch ID function, the need for an additional layer of security to avoid data breaches has increased, which has raised the profile of this feature. Features like biometric security, fingerprint authentication, and others can be added to your software to boost its dependability. Actually, this is a basic demand of the current situation as well as a question of providing customers with extra benefits.
In recent years, mobile payment systems have become increasingly well-known and successful. Examples of their success include Apple Pay, Google Wallet, Alipay, Paytm, and PayPal. There was a $700 billion global mobile payments boom in 2017, and this trend is unstoppable. Future growth is certain for it as well. The sky really is the limit for this particular industry, it wouldn’t be incorrect to say.
An Overview of Mobile Apps’ Future
Given the millions of mobile apps accessible in the various app stores, some may argue that the industry is saturated. However, if you look closely at the statistics, you’ll see that there is still a tonne of opportunity for improvement. In 2015, mobile apps generated a total of 96.7 billion US dollars in gross revenue globally. The amount increased dramatically the following year, reaching a total of 88.3 billion US dollars. Watch out for the projections for the future if you believe that this is the limit. According to Statista, this amount will likely reach 188.9 billion US dollars.
Over the past ten years, the app market has seen the emergence of new technology. Making life quick and simple is, in my opinion, the main driver of an empowered market. There is now a tonne of tech trends in mobile apps, and there will be even more in the future. Mobile apps have been credited with helping the e-commerce industry grow. These apps allow users to interact, which facilitates communication and fosters a sense of trust and loyalty. Mobile apps are readily available and include all the information needed for product purchases.
To do this, you must design a flawless mobile application that puts your company at the users’ fingers. Publishing your app in the stores is a huge deal in addition to app development. On Google Play and the Apple Store, you may get comprehensive information about the distribution of apps.
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