Smartphone App Developers in the US - Industry Market Research Report

Smartphone App Developers in the US - Industry Market Research Report

Smartphone App Developers in the US

The smartphone's instant popularity and high consumer adoption rate have prompted high demand for developers to introduce new apps. As smartphone usage has risen in popularity, apps have grown in complexity, becoming ingrained into the daily life of consumers, providing a wide variety of functions to users. With low barriers to entry, rapid growth has encouraged new developers to join the app development space. Consumers have integrated smartphone apps into their lives more than ever following the onset of COVID-19. Consumers substituted services previously performed in person, like grocery shopping and health appointments, with virtual offerings available through apps. Companies adjusted to the quick shift in consumer behavior, hiring developers to create new smartphone apps and modify existing ones with new capabilities. Even as consumers shift back into regular life, smartphone app use is higher than ever, leading revenue to expand at a CAGR of 5.9% over the past five years. Potential recession concerns will slow growth, with revenue expected to decline 2.8% to an estimated $176.6 billion in 2023 alone.

This industry develops and publishes applications (apps) for smartphones and tablets. Apps are typically sold in a special app store that can be accessed through the device.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."