Mobile app store market share exceeds the US dollar
Dubai, United Arab Emirates, September 21, 2022 (GLOBE NEWSWIRE) – The mobile application store market size is expected to grow from USD 165.9 billion in 2022 to USD 1027.21 billion by 2032. Mobile application store sales are expected to grow To grow at a compound annual growth rate of 20% during 2022-2032.
The mobile app store market has grown significantly as a result of the increasing use of smartphones. The adoption of mobile app stores is growing as a result of people frequently using social networking apps and downloading new and exciting games. The massive increase in the number of smartphone users is a major factor in the expansion of the mobile application store market. Online marketplaces where customers can purchase or download smartphone applications receive significant investment.
The market share of mobile application stores is expected to rise due to the exponential growth of application development programs. One of the primary things driving the global mobile app store market forward 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 came preinstalled with a few apps at first, but quickly added app stores, allowing independent developers to create apps and games.
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Mobile app stores have skyrocketed in popularity as tens of thousands of developers have started creating apps and games for the platforms. In less than five years, Apple and Google each had more than a million apps and games available, generating millions of dollars in app sales for each company. As a result, this factor is expected to improve sales of mobile app stores during the projection period. These two platforms have expanded their capacity to accommodate consumer applications.
Mobile application stores are developed to satisfy current consumer habits, such as downloading new software or updating existing software. The most common trend driving the growth of the mobile app store market is the increase in game app downloads.
Main takeaway from Mobile App Stores 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 app segment led the mobile app store industry in 2021, accounting for 42% of total revenue.
- The music and entertainment applications segment is expected to expand at a compound annual growth rate 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 big markets with huge growth potential for all those involved in mobile app stores.
- The Asia Pacific region is expected to be the fastest expanding market for mobile app stores, due to the potential for internet penetration and smartphone usage in the region.
“Companies should consider whether developing a custom solution in-house would be more beneficial than Mobile App Stores The solution. Adopting a solution as part of a broader technology package can also be an attractive approach Mobile App Stores comp. – FMI Analyzer
Factors constraining the growth of the mobile application store market
- One of the major limiting factors in the global market for mobile app stores is the limitations of the users’ mobile devices. Customers are experiencing issues 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. Apps built for specialized functions require smartphones with specialized functions as well.
- However, when users switch to the latest high-tech smartphones that enable efficient operation of any mobile app, this issue is finally resolved.
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Competition scene in Mobile App Stores Market
Leading competitors in the global mobile application stores market are investing in research and development initiatives to drive organic growth and expand their market shares. Mobile app store companies are developing new products in order to expand and enhance their existing portfolios and acquire new customers.
Big competitors in Mobile App Stores Market They are Amazon Appstore, Windows Store, Apple iTunes, Google Play and BlackBerry World.
Recent developments in Mobile App Stores Market:
- GetJar actively encourages developers to adopt their free 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 secured financing from Mitsui & Co., Ltd. Japanese and active investor in healthcare. After completing the project, GOQii aims to expand its presence.
Major Segments Covered in the Mobile App Store Market Report
By store type:
- Google Play Store
- Apple Store
- the games
- music and entertainment
- Health and fitness
- North Amarica
- Latin america
- East Asia
- South Asia and the Pacific
- Middle East and Africa
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1. Executive Summary
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 / Rating
2.2. Market Definition / Scope / Limitations
3. Market background
3.1. market dynamics
3.2 Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in a possible scenario
3.2.3. Demand in the conservative scenario
3.3 Opportunity Map Analysis
3.4. Investment Feasibility Matrix
To follow the table of contents…
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