Market share of mobile application stores to cross US$1027.21 Bn by 2032

Future Market Insights Global & Consulting Pvt.  Ltd.

Future Market Insights Global & Consulting Pvt. Ltd.

The United States is projected to lead the global mobile application store market by 2032. The United States is anticipated to emerge as a very profitable market for mobile game applications in terms of paid mobile games, in-app payments and rapidly growing mobile app users. Base

DUBAI, United Arab Emirates, September 21, 2022 (Globe Newswire) — The mobile app store market The size is expected to increase from US$165.9 billion in 2022 to US$1027.21 billion by 2032. Mobile application store sales are expected to grow at a CAGR of 20% during 2022-2032.

The mobile application store market has grown significantly as a result of the increasing use of smartphones. The acceptance of mobile application stores is increasing as a result of people frequently using social networking apps and downloading new and exciting games. The exponential growth in smartphone users is a major factor driving the expansion of the mobile application store market. Online marketplaces where customers can purchase or download smartphone applications are gaining significant investment.

The mobile application store market share is expected to grow due to the exponential growth of application development programs. One of the primary things driving the global mobile application store market is gaming applications. Despite iOS and Android, Apple and Google control more than 95% of the mobile app store market outside of China. Both mobile operating systems came pre-installed with a few apps at first, but they quickly added application stores, allowing independent developers to build apps and games.

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The popularity of mobile application stores has skyrocketed as thousands of developers have started creating apps and games for the platform. In less than five years, both Apple and Google had more than a million apps and games available, generating millions of dollars in application sales for each company. Consequently, this factor is expected to improve mobile application store sales during the launch period. These two platforms have expanded their capacity to accommodate consumer apps.

Mobile application stores are developed to satisfy current consumer habits, such as downloading new programs or updating existing ones. The most common trend driving the growth of the mobile application store market is the increase in gaming application downloads.

important facts from mobile app store market

  • In 2021, the Apple Store category had the largest market share in the mobile application stores market, accounting for over 62 percent of total sales.

  • The gaming application sector led the mobile application store industry in 2021, accounting for 42% of total revenue.

  • The music and entertainment applications segment is predicted to expand at a significant CAGR of over 13.5% between 2022 and 2032.

  • North America dominated the mobile app store market in 2021, accounting for over 31.83% of sales.

  • India and China are projected to remain large markets with tremendous growth potential for all mobile application store participants.

  • Asia Pacific is projected to be the fastest-expanding market for mobile application stores, due to the potential for Internet access and smartphone usage in the region.

“Companies should consider whether developing an in-house custom solution would be more useful than a . mobile app store Solution. Adoption of the solution as part of a comprehensive technology package can also be an attractive technology mobile app store companies, – FMI Analyzer

Factors restraining mobile application store market growth

  • One of the major restraining factors in the global mobile app store market is the paucity of users’ handheld devices. Customers are having issues with some apps that are designed for smartphones but cannot be used due to a lack of feature development.

  • Smartphone makers are unable to keep up with mobile application development. Applications built for specialized functions also demand smartphones with specialized functionality.

  • However, as soon as users switch to the latest high-tech smartphones that enable efficient operation of any mobile application, this problem is eventually resolved.

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In Competition Landscape mobile app store market

Leading competitors in the global mobile app store market are investing in R&D initiatives to drive organic growth and expand their market share. Mobile application store companies are developing new products to expand and strengthen their existing portfolio and acquire new customers.

top competitor in mobile app store Market There are Amazon Appstore, Windows Store, Apple iTunes, Google Play and BlackBerry World.

Recent Events in mobile app store market:

  • GetJar actively encourages developers to adopt its freemium model, which includes ads and in-app purchases. GetJar Gold is one of the most popular virtual currencies in circulation with millions of users.

  • In November 2018, GOQii announced that the company had received funding from Mitsui & Co Ltd, a Japanese firm and active health care investor. After the completion of the project, GOQii aimed to expand its presence.

Key Segments Covered in the Mobile App Store Market Report

By store type:

  • google play store

  • Apple Store

  • other

By application:

  • Gambling

  • Music & Entertainment

  • Health and Fitness

  • productivity

  • Communications

  • Security

  • other

by region:

  • North America

  • Latin America

  • Europe

  • East Asia

  • South Asia and Pacific

  • Middle East and Africa

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table of content

1. Executive Summary

1.1. Global Market Outlook

1.2. demand side trend

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 / Boundaries

3. Market Background

3.1. market dynamics

3.1.1. drivers

3.1.2. Helplessness

3.1.3. opportunity

3.1.4. trends

3.2. scenario forecast

3.2.1. Demand in an optimistic scenario

3.2.2 Demand in Prospective Scenario

3.2.3. demand in a conservative landscape

3.3. Opportunity Map Analysis

3.4. investment feasibility matrix

Toc to continue…

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