Mobile App Development Market By Platform (IOS, Android, Windows) , By Store Type (Google Store, Apple Store, Others) By Application (BFSI, Gaming, Retail, Airline, Media & Entertainment, Education, Transport, Hotels & Restaurants, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Mobile App Development Market
The mobile app development market was valued at $195.7 billion in 2023 and is projected to reach $606.1 billion by 2032, growing at a CAGR of 13.1% from 2024 to 2032.
Mobile app development involves the formation of software applications for hand-held devices such as smartphones and tablets. App development is a multidisciplinary process that involves a series of tasks such as designing, coding, developing, testing, and deployment. Mobile app development facilitates digital transformation due to its diverse attributes such as revenue stream generation, process automation, supporting business operations, and customer relationship management.
Rapid surge in the adoption of consumer electronics, including tablets and smartphones is a key driver of the mobile app development market. In addition, rise in the popularity of mobile commerce is fueling the process of app development. Moreover, advancements in the app development process with the advent of AI and the Internet of Things propel the market growth substantially. An emerging trend in the landscape of mobile app development that is projected to dominate the market in coming years is low-code/no-code development. This trend is acquiring notable traction among individuals with no coding experience seeking to develop applications for their businesses. This development process relies on visual modeling, pre-configured templates, and data integration techniques for consistency & scalability.
However, the existence of diverse platforms such as Android and iOS requires extensive app testing & configuration, hampering the development of the market. Furthermore, compliance with diverse data protection standards such as General Data Protection Regulation is a complex and time-consuming procedure that hinders the growth of the mobile app development market. On the contrary, increase in the adoption of 5G networks is anticipated to present lucrative opportunities for the mobile app development market. Integration of the capabilities of 5G network during development is projected to optimize the performance of mobile apps via real-time updates, low data consumption, and immersive experiences. According to a recent blog by Aloa—a software development outsourcing organization—approximately 25% of mobile phones are expected to be on 5G network by 2025, rising from a value of 8% in 2021. This rise in penetration of 5G is poised to open new avenues for the mobile app development market.
Segment ReviewThe mobile app development market is segmented into platform, store type, application, and region. On the basis of platform, the market is divided into iOS, Android, and Windows. By store type, it is categorized into Google Store, Apple Store, and others. As per application, it is classified into BFSI, gaming, retail, airline, media & entertainment, education, transport, hotels & restaurants, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of platform, the IOS segment dominated the market in 2023.
By store type, the Google Store segment held a high share of the market in 2023.As per application, the gaming segment accounted for a high market share in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global mobile app development market include Apple Inc., CA Technologies, China Mobile Limited, Cognizant, Google LLC, Hewlett Packard Enterprise Development LP, Intellectsoft, International Business Machines Corporation, Microsoft Corporation, Verbat Technologies, and Amazon. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy PlatformIOS
Android
Windows
By Store TypeGoogle Store
Apple Store
Others
By ApplicationBFSI
Gaming
Retail
Airline
Media Entertainment
Education
Transport
Hotels Restaurants
Others
By RegionNorth America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersApple Inc
CA Technologies
China Mobile Limited
Cognizant
Google LLC
Hewlett Packard Enterprise Development LP
Intellectsoft
International Business Machines Corporation
Microsoft Corporation
Verbat Technologies
Amazon