Mobile App Development: No one can deny the fact how the smartphone industry has grown so much over the past couple of years. It is not surprising, therefore, that along with the innovations in smartphones is the development of advanced mobile applications for practically everything, from shopping to even diagnosing diseases! Mobile applications are considered to be a crucial part in completing the activities of daily living since they have, in many ways, taken over the way people communicate, complete work-related tasks, update social media networks, and more.
With regards to the business industry, it has truly become not only just a trend, to develop mobile apps that are imperative to survive in a rewarding but highly competitive market. Traditional business enterprises have come to terms that having mobile presence is important to capture the attention of the mobile society.
At first, you would say that the formula is quite easy since a mobile app developer only has to make the interface user-friendly and the business department only has to produce new products to attract an audience. The truth, however, is that success in the mobile market is difficult to come by. Mobile app development is crucial since it would require numerous hours of intensive research, planning, and unbeatable dedication for marketing.
In this article, you will have a birds’ eye view of the most relevant statistics that would be valuable if you are looking forward to having a successful mobile app this year.
1.Worldwide Increase Number of Mobile Users
There were approximately 6.95 billion mobile users around the world last year and it is estimated to grow to 7.1 billion this year and a projection of 7.4 billion by year 2024.
Takeaway: This steady increase of mobile users is a testament as to how important it is to satiate the thirst for quality and engaging apps. The numbers also give you an idea as to how big the potential market will be for your business. Instead of directing your resources to traditional marketing efforts, you must consider going mobile because it will be much more accessible to the mobile users.
2. Growth of Available Mobile Applications
Two of the most accessible mobile application markets are Google Play Store and the Apple App Store. As of the most recent research by Buildfire, 2.8 million apps can be downloaded by Android mobile phone users while about 2.2 million are available for iOS consumers. By these numbers, you can say that Android’s market share is a lot bigger thus it is wise to assume that, if you are to develop an app, Google Play Store is a more competitive market.
Takeaway: What makes Android great is that it has an open-source platform that is inviting to any mobile app development company. This would allow collaborations during the mobile app development thereby providing an ideal environment for innovations.
3. Ballooning of Global Mobile Advertising Expenditures
It was earlier projected in a research that by year 2021, the global mobile advertising spend will be around $240 billion.
It is difficult to achieve momentum in marketing but with mobile advertising, you are given a way to make your marketing strategies more accessible. Mobile apps will give you a chance to promote and establish your brand, ultimately influencing the buying behavior of the customers.
Takeaway: Ever wonder how come there are people who pay developers to create free applications? Well, free apps are enticing to users who prefer to download them instead of paid apps. When an app becomes popular, ad spaces are provided for companies who are looking for a way to reach their targeted markets.
4. Accessible Mobile Internet Access
Mobile phones are the most accessible means to access the internet, accounting to 91% of total internet users.
This is attributed to the human nature of wanting everything to be fast and easy. Having internet access on mobile devices allows the users to access information right away instead of waiting to get their hands on a computer.
This is primarily why most web pages are created to be mobile-friendly nowadays. It is more convenient to check interesting websites using mobile phones while on-the-go.
Takeaway: The instantaneous results that frequent mobile internet access affords allow anyone to learn, access, and manage any business using mobile applications. This should encourage you to develop an app that encourages productivity as it is what most mobile users look for.
5. Virtual Shopping
According to Google, mobile apps are one of the most popular means of in-game purchases online. The research shows that half of the total global virtual shoppers from Asia, US, and UK all use mobile apps for buying everything from simple purchases such as essential goods to even bigger items, like cars!
Again, convenience is the ultimate reason for this spike in online purchasing of goods. Shoppers are given the choice to avoid the hustle of going to physical shops and waiting in long lines to buy what they want. Mobile apps are efficient at making the shoppers enjoy shopping albeit virtually.
Takeaway: Among different kinds of mobile apps, an eCommerce one should be a smart project to invest in.
6. Increase in the Community of Mobile Gamers
The recent lockdown restrictions due to the COVID-19 pandemic have resulted in an increase in the number of people playing mobile games. In the first quarter of 2020 alone, the number increased from 1.2 billion to 1.75 billion per month.
Many leisure and entertaining activities were interrupted too. Since one of the most accessible sources of entertainment are gadgets, the amount of playtime also increased.
Takeaway: The future of the mobile gaming industry looks promising, especially those that offer communication and more engagement between players. New strategies and gameplays should be the focus of developers in order to gain from this business potential.
7. Free vs. Paid Apps Preference
The most striking difference between a free and paid app is that with free apps, there are plenty of ads that run anytime during access to the app. On the paid apps, on the other hand, customers pay for an uninterrupted access along with a number of premium features that are usually limited or non-existent on the free apps.
Although paid apps can be more fun, there’s no mistaking that free apps also offer almost the same experience which is why they are more preferred by the users. Those who are in the mobile app development industry recognize this trend, explaining why in the study by 42matters, 96.2% of Android apps and 91% of iOS apps can be downloaded without fees!
Takeaway: It may be difficult to bring revenue through mobile apps but it would help to decide whether you want it to be recognized in the free market or the premium zone.
8. Increasing Market Competition
The mobile app market, whether for Android or iOS, continues to grow and involve almost on a daily basis. This makes the industry appear like the traditional marketplace with a wide stretch of vendors. According to Statista, the rise of the market competition for mobile applications is evident in the number of consumers who rely on mobile apps for shopping, entertainment, and business-related matters. In the 3rd quarter of 2019, there are already 1.8 million iOS apps and 2.47 million Android apps.
Takeaway: The competition that arises between emerging apps keeps the market healthy. Although it is a positive outlook for business-minded people, it is the developers who find it such a tedious task to determine how to make an app that will be attractive to the users.
9. Mobile App Monetization
According to the stats, 90-95% of Android and iOS apps are free. The projected revenue for paid downloads and in-app advertising, however, is $935 billion by 2023.
Free apps can also be monetized either through advertising or in-app purchases. This goes to show that whether it is free or premium, as long as an app is downloaded, then it will generate money.
Takeaway: Although it can be challenging to develop paid apps, being able to make customers loyal to the brand is one of the most effective strategies to make them willing to pay for app access.
10. Design and Performance
A good mobile user experience is what makes half of the success of any app. In the study, 52% of mobile users tend to avoid apps or websites that they have had a bad experience with.
More than the design itself, performance approves of an app only when it is practical, adequate, and works seamlessly. Another factor that must be considered by the developer is how to make an app that is fast since users do not find slow-loading sites and apps to be worthy of their precious time.
Takeaway: Improving both UX (User Experience) and UI (User Interface) for better CX (Customer Experience) should be the priority, along with focusing on developing predictive analytics and continuously innovating on advanced technologies such as AI technology.
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Your Turn…
By going through all these stats, you can see that there’s no stopping the mobile app industry from continuously growing and innovating. These statistics must be kept into consideration in order to keep up with the rapidly changing trends and user demands.
This information may be a lot to digest but you have to trust the numbers if you want to be successful upon venturing into the world of mobile app development. We already know that numbers don’t lie. Let this be some sort of a cheat sheet to guide your mobile app development team in choosing the best mobile strategies that will work best with your business.
Author’s Bio
Yen Pedrajas is a digital marketing and technology enthusiast who loves to read, review and write content regarding the latest technology trends, online marketing insights and ideas.
Currently, she manages public relations and customer operations for Removal.AI – a background remover application AI technology and photo editing solutions for ecommerce, fashion, photography, web and app development and other related purposes.
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