Mobile App Development - The Fastest Growing Industry

13 Dec 2018
App Development
The mobile application market is growing faster than imagined. The revenue generated by the global mobile app industry is skyrocketing and monetisation models such as in-app purchases and in-app ads are becoming popular.
According to the AppAnnie reports, the app industry generated approximately$41.1 billion in gross annual revenue in 2015 and today, this figure has increased to more than$50.9 billion. According to Statista, the gross annual revenue of global app industry will reach 189 billion by 2020. These numbers are proof enough that this market is far from being saturated. Since consumers are also evolving at a rapid pace, it has become necessary for businesses to offer them an app through which they can stay connected even while on-the-go.
With a number of new and advanced mobile apps emerging in the market, the future of mobile app development seems to be bright. Some of the apps that are in trend include- wearable apps, IoT app integration, augmented reality apps, enterprise applications and so on. Large as well as small businesses are moving towards mobility. Here are some of the trends that businesses need to watch out for in mobile app development:
1. IoT or Internet of Things - it is being expected that the total number of IoT devices will increase the 20.4 billon mark by 2020. Demand for devices and sensors will keep increasing and IoT will leave a strong impact on the app development process.
2. Second popular trend that will change the face of app development is cloud-based apps. Compared to native apps, cloud-based apps are quite powerful. Native apps can be downloaded and installed on a certain device whereas cloud-based apps can run on any device as long as there is a good internet connection. Also, in the internal memory of the mobile, cloud-based apps occupy less space compared to the native apps.
3. Wearable apps will remain in trend and almost every sector can benefit from them. Ranging from wristbands to smartwatches, there are various wearables available in the market. For better access, most wearables can be easily synchronised with smartphones. With the help of wearable apps, the devices can perform in a customised and better manner.
4. AR and VR apps have kept the virtual world alive. With these futuristic technologies, mobile apps have gone to the next level. By integrating these technologies, developers have been able to grab various possibilities.
5. Location-based app are also in high demand. For instance, iBeacon by Apple offers various benefits if you are running a brick and mortar store. You can also benefit from the app if you are running a restaurant, an event management firm and so on.
The mobile app market is witnessing explosive growth every year. Even though there is competition in the industry, developers are using new monetisation methods for creating useful and interesting solutions for the users.
The reason why many businesses are choosing to outsource mobile app development in Mumbai is because they are seeking expertise. App development requires a significant investment. If your app isn’t being designed by experts, there are chances your money will get wasted.
Another advantage of hiring an app development company is that businesses get to save time and money. There is no need to spend money on hiring, training or retaining in-house app developers. Expenditure related to technology and infrastructure also gets eliminated. Businesses save time because a dedicated team handles app development and there is no need to monitor an in-house team.
Growing popularity of enterprise apps
Compared to consumer-facing apps, mobile developers are experiencing a rise in demand for business apps. Be it healthcare industry, financial services, retail or insurance, enterprise apps are in high demand in various enterprises.
Enterprise mobile apps have become quite popular as they have become an important strategy for business operations and process. According to the industry experts, enterprise mobile applications will be giving tough competition to consumer applications in the years to come as far as variety and volume is concerned.
It is necessary to ensure that enterprise mobile apps are established for employees for envisaging productivity and competence through the enterprise.