Back in 2008, Apple officially launched its app store with a paltry 500 apps. A decade later, the number of applications has grown exponentially. As of the last quarter of 2019, there were almost 1.84 million applications available on the iOS app store and 2.57 million apps on the Google Play Store. In short, over 4 million applications (combining both Google Play and Apple) were available for download as of the 4th quarter of 2019. This indicates that the mobile app market is flourishing with every passing year and it presents a golden opportunity for businesses that would like to tap into the mobile application market.

In a recent report published, it’s been stated that the global mobile app market size is expected to touch the valuation of $407.31 billion by 2026 with a compound annual growth rate (CAGR) of 18.4% from 2019 to 2026. The primary reason for the unprecedented growth of the mobile application market is the growing adoption of smart wearable devices, mobile phones, voice-powered virtual assistants, etc. Today, AI-powered smart devices are no longer a substitute, in fact, they have become a crucial part of our day-to-day lives.

The Rise Of Mobile App Market

According to the 2019 report by eMarketer, the average US adult spent around 3 hours, 43 minutes of a day on their mobile phones, which is slightly above the time spent on the television (3 hours, 35 minutes a day). What’s more interesting is that the average American checks their mobile phones around 80 times a day.

Astonishing, isn’t it? On diving deep into the study, it has been found that 90% of the mobile time of the average US adult is spent on mobile applications. Investing such a whopping amount of time on mobile applications by an average American is enough for any developer to go into a frenzy. Furthermore, the genre that is accountable for maximum time spent by Americans on mobile phones is digital audio. The average American listens to digital audio for over 50 minutes a day on their mobile phone, while social networking is accountable for 40 minutes a day on mobile applications. Apart from these two genres, the other categories that are popular among Americans include messaging, mobile video, and gaming.  

Here’s How You Can Tap Into The Mobile Application Market

If you want to emerge as a leader in the mobile app industry, this informative post will walk you through some meaningful insights that will help you head in the right direction. Let’s look at them.

#1 Shopping on-the-go is on the rise

With the growing number of smartphone users in the world, m-commerce is on the rise. According to a report by Statista, there are around 4.54 billion people in the world who have access to the internet as of January 2020 and out of them, 3.5 billion people own a smartphone. In a nutshell, shopping on-the-go is a popular trend among smartphone owners since it is not only convenient but also offers great deals and discounts. Moreover, popular mobile applications like Google Pay and Apple Pay have given a strong push to mCommerce. If reports are to be believed, 83% of smartphone users use shopping applications on their mobile phones. Ergo, it becomes vital to integrate the mobile-first payment gateway into your mobile application.

#2 Design could be a game-changer

Having a fluid design and intuitive user interface will not only offer a smooth user experience but also reduce the attrition rate of users. When designing a mobile application, you must pay attention to the design since it holds immense potential to make or break your online success. You might know that 78% of users prefer to access a website or eCommerce store from an application rather than its desktop or mobile site. Moreover, mobile applications that have fewer steps between a landing page and the checkout page offer not only smooth user experience but also improve conversions.

#3 Pay heed to your mobile app performance

If design plays a vital role in the success of a mobile application, so does performance. Ergo, it becomes important to pay attention to your app performance since mobile users will continue to use only those applications that run seamlessly.

In a report of AppSamurai, it’s been stated that freezing leads to 71% of app uninstallation, while crashing is accountable for 71% of uninstallation. The same report also states that the slow speed of a mobile app can lead to uninstallation by 59% of customers. Furthermore, 52% of users having poor mobile experience are less likely to interact with an eStore or website again.

Over To You

The mobile app industry growth is on the rise and showing no signs of slowing down in the coming years. If you want to be a leader in the market and increase your customer base, you must pay attention to the important factors discussed in this post. If you also know any other factors that can provide smooth UX to app customers, you can share it with me in the comment section below. Thanks for reading 🙂

Author Bio

Nathan Smith is a mobile app development expert working as a senior developer at TechnoScore. He has sound knowledge of all the latest technologies, tools, and frameworks used for building robust, scalable, and feature-packed mobile applications.