DUBAI, UAE, Sept. 21, 2022 (GLOBE NEWSWIRE) — The market size of mobile application stores is expected to grow from US$165.9 billion in 2022 to US$1027.21 billion in 2032. Mobile application store revenue is expected to grow at a CAGR of 20% between 2022 and 2032.
The market for mobile application stores has grown significantly due to the increasing use of smartphones. Adoption of mobile application stores is increasing as people frequently use social networking apps and download new and exciting games. The exponential growth of smartphone users is a major factor driving the expansion of the mobile app store market. Online marketplaces where customers can buy or download smartphone applications receive significant investment.
The market share of mobile application stores is expected to increase due to the exponential growth of application development programs. One of the most important things driving the global mobile app store market is gaming apps. Despite iOS and Android, Apple and Google control more than 95% of the mobile app store market outside of China. Both mobile operating systems initially came preinstalled with a few apps, but quickly added application storage, allowing independent developers to create apps and games.
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The popularity of mobile application stores has skyrocketed as tens of thousands of developers begin creating apps and games for the platforms. In less than five years, both Apple and Google had more than a million apps and games available, earning each company millions of dollars in application sales. As a result, this factor is expected to improve mobile application store sales during the forecast period. These two platforms have expanded their capacity to accommodate consumer apps.
Mobile application stores are being developed to satisfy current consumer habits, such as B. downloading new programs or updating existing programs. The most common trend driving the growth of the mobile application store market is the increase in gaming application downloads.
Key takeaways from Stores for mobile applications market
- In 2021, the Apple Store category had the largest market share in the mobile app store market, accounting for more than 62 percent of total sales.
- The gaming application sector led the mobile application business industry in 2021, accounting for 42% of the total revenue.
- The music and entertainment applications segment is expected to grow at a significant CAGR of over 13.5% between 2022 and 2032.
- North America dominated the mobile app store market in 2021, accounting for more than 31.83% of sales.
- India and China are expected to remain large markets with tremendous growth potential for all Mobile Application Store participants.
- Asia Pacific is expected to be the fastest growing mobile app store market due to the region’s potential for internet penetration and smartphone adoption.
“Companies need to consider whether developing a custom solution in-house makes more sense than one Stores for mobile applications Solution. Introducing a solution as part of a broader technology package can also be an attractive technique for Stores for mobile applications companies. – FMI Analyst
Factors restraining the growth of the Mobile Application Stores market
- One of the major restraining factors in the global mobile application store market is the limitations of users’ handheld devices. Customers face problems with some apps that are designed for smartphones but cannot be used due to lack of feature development.
- Smartphone manufacturers cannot keep up with the development of mobile applications. Applications created for special functions also require smartphones with special functions.
- However, when users switch to the latest high-tech smartphones that allow the efficient operation of any mobile application, this problem will eventually be solved.
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competitive landscape in the Stores for mobile applications market
The leading competitors in the global mobile application store market are investing in R&D initiatives to drive organic growth and increase their market share. Mobile Application Stores Companies are developing new products to expand and strengthen their current portfolio and attract new customers.
The top competitors in the Stores for mobile applications market are Amazon Appstore, Windows Store, Apple iTunes, Google Play and BlackBerry World.
Recent developments in the Stores for mobile applications Market:
- GetJar actively encourages developers to adopt their freemium model, which includes ads and in-app purchases. GetJar Gold is one of the most popular virtual currencies around with millions of users.
- In November 2018, GOQii announced that it had received funding from Mitsui & Co., Ltd., a Japanese company and active investor in healthcare. After completing the project, GOQii wanted to expand its presence.
Important segments covered in Mobile Application Stores market report
By business type:
- Google play store
- Apple store
- To play
- Music & Entertainment
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Contents
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Market background
3.1. market dynamics
3.2. scenario forecast
3.2.1. demand in the optimistic scenario
3.2.2. demand in the probable scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Investment feasibility matrix
To continue the table of contents…
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