DUBAI, United Arab Emirates, September 21, 2022 (GLOBE NEWSWIRE) — The mobile app store market Size is expected to grow from $165.9 billion in 2022 to $1027.21 billion by 2032. Mobile app store sales are expected to grow at a CAGR 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 media apps and downloading new and exciting games. The exponential increase in smartphone users is a major factor in the expansion of the mobile app store market. Online marketplaces where customers can buy or download smartphone apps are receiving significant investment.
The market share of mobile app stores is expected to increase due to the exponential growth of app development programs. One of the main things driving the global mobile app store market 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 pre-installed with some apps at first, but quickly added app stores, allowing independent developers to create apps and games.
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The popularity of mobile app stores has skyrocketed as tens of thousands of developers start creating 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 app sales for each company. As a result, this factor is expected to improve mobile app store sales over the projection period. These two platforms have expanded their capacity to accommodate consumer applications.
Mobile app stores are developed to meet current consumer habits, such as downloading new programs or updating existing ones. The most common trend driving the growth of the mobile app store market is the increase in game app downloads.
Key takeaways 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 sector led the mobile app store industry in 2021, accounting for 42% of total revenue.
- The music and entertainment app segment is forecast 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 expected to remain large markets with tremendous growth potential for all mobile app store participants.
- Asia Pacific is expected to be the fastest growing market for mobile app stores, due to the region’s potential for Internet penetration and smartphone usage.
“Companies should consider whether developing a custom solution in-house will be more useful than an off-the-shelf solution. Mobile app stores solution. Adopting a solution as part of a broader technology package can also be an attractive technique for Mobile app stores companies. – IMF Analyst
Factors Restraining The Growth Of The Mobile App Store Market
- One of the key restraining factors in the global mobile app store market is the limitations of users’ handheld devices. Customers have problems with some applications that are designed for smartphones but cannot be used due to lack of feature development.
- Smartphone manufacturers cannot keep up with mobile app development. Applications built for specialized functions also require smartphones with specialized functionality.
- However, as users switch to the latest high-tech smartphones that enable the efficient operation of any mobile application, this problem is eventually resolved.
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Panorama Competition in the Mobile app stores Market
Major competitors in the global mobile app store market are investing in R&D initiatives to drive organic growth and expand their market shares. Mobile app store companies are developing new products to expand and strengthen their current portfolios and attract new customers.
The best competitors in the 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 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 secured financing from Mitsui & Co., Ltd., a Japanese firm and investor active in healthcare. Following the completion of the project, GOQii intended to expand its presence.
Key Segments Covered in The Mobile App Stores Market Report
By type of store:
- google play store
- apple store
- music and entertainment
- Health & Fitness
- North America
- Latin America
- east asian
- South Asia and the Pacific
- Middle East and Africa
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Table of Contents
1. Executive Summary
1.1. World 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 / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. market dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Analysis of the opportunity map
3.4. Investment feasibility matrix
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