The United States is expected to lead the global mobile application store market by 2032. The United States is expected to become a very profitable market for mobile game applications in terms of paid mobile games, in-app payments and a fast-growing mobile app base
DUBAI, United Arab Emirates, 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 sales are expected to grow at a CAGR of 20% in 2022-2032.
The mobile application store market has grown significantly due to the increasing use of smartphones. The adoption of mobile application stores is growing as people regularly use social networking apps and download new and exciting games. The exponential increase in smartphone users is a major factor in the expansion of the mobile application store market. Significant investments are being made in online marketplaces where customers can purchase or download smartphone applications.
The market share of mobile application stores is expected to increase due to the exponential growth of application development programs. One of the main things propelling the global mobile application store market is gaming applications. Despite iOS and Android, Apple and Google control more than 95% of the mobile application store market outside of China. Both mobile operating systems initially came pre-installed with a few apps, but they quickly added application stores, 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 to create apps and games for the platforms. 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. As a result, this factor is expected to improve mobile app store sales over the projection horizon. These two platforms have expanded their capacity to host consumer apps.
Mobile application stores are designed to meet 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 game application downloading.
‘s main takeaways Mobile App Stores Market
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In 2021, the Apple Store category held the largest market share in the mobile application store market, accounting for more than 62 percent of total sales.
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The gaming applications sector led the mobile application store sector in 2021, accounting for 42% of total revenue.
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The music and entertainment applications segment is projected to grow at a significant CAGR of over 13.5% between 2022 and 2032.
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North America dominated the mobile app store market in 2021, accounting for more than 31.83% of sales.
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India and China are expected to remain major markets with huge growth potential for all mobile application store participants.
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Asia Pacific is expected to become the fastest growing mobile application store market due to the region’s potential for internet penetration and smartphone usage.
“Companies should ask themselves whether developing a custom solution in-house makes more sense than a Mobile App Stores solution. Adopting a solution as part of a broader technology package can also be an attractive technique for: Mobile App Stores businesses. – FMI analyst
Factors Restraining Mobile Application Store Market Growth
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One of the major limiting factors in the global mobile application store market is the limitations of users’ wearable devices. Customers are having issues with some apps designed for smartphones that cannot be used due to lack of feature development.
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Smartphone manufacturers cannot keep up with the development of mobile applications. Applications made for specialized functions also require smartphones with specialized functionality.
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However, as users switch to the latest high-tech smartphones that allow efficient operation of any mobile application, this problem will eventually be solved.
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Competition landscape in the Mobile App Stores Market
The leading competitors in the global mobile application store market are investing in R&D initiatives to drive organic growth and expand their market share. Mobile application store companies develop new products to expand and strengthen their current portfolio and acquire new customers.
The best competitors in the mobile application stores market are Amazon Appstore, Windows Store, Apple iTunes, Google Play and BlackBerry World.
Recent developments in the Mobile App Stores Market:
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GetJar actively encourages developers to adopt their freemium model, including ads and in-app purchases. GetJar Gold is one of the most popular virtual currencies in circulation, with millions of users.
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In November 2018, GOQii announced that the company has secured financing from Mitsui & Co., Ltd., a Japanese company and active investor in healthcare. After the completion of the project, GOQii wanted to expand its presence.
Key Segments Covered in Mobile Application Stores Market Report:
By store type:
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Google Play Store
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Apple Store
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others
By application:
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Gaming
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Music and entertainment
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Health and fitness
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productivity
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Communication
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Safety
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others
Per region:
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North America
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Latin America
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Europe
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East Asia
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South Asia and the Pacific
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Middle East and Africa
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Index
1. Summary
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Trends on the supply side
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
3.1.1. drivers
3.1.2. limits
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in optimistic scenario
3.2.2. Ask in likely scenario
3.2.3. Question in conservative scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
Continue with table of contents…
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