App Annie in their report stated that the mobile app industry generates revenue of $41.3 billion in the year 2017 and this amount will increase up to $50 billion in the year 2020. The annual revenue can exceed $200 billion by the year 2025. Through different stats and reports, the overall thing is that mobile app development market is far from the desired revenue. This means that Mobile app market still has a lot of Room to grow. App Annie also predicted that only 46% of people around the globe will have smartphones by the year 2017. This clearly shows that the mobile application Development market is just rising.

According to another report generated by the Statistic, there is a big gap between different leading companies that use the mobile gadgets as a catalyst to transform their business and companies. In the year 2016, only 18% of the companies were listed in the first category and this list is expected to expand up to 25% by next year. Mobile applications are now becoming the necessity for many users as consumers are evolving rapidly than businesses.

Platforms for Mobile Applications (Rich & Poor) :
There are two main mobile giants Android and iOS, as they dominate the worldwide smartphone market. Report generated by the Gartner stated that 88% of smartphones sold were android and the remaining 12% were iOS. This rate of sale is 4% higher than the previous year. The market for iOS is 2.5% less than the last year. As the android has already a huge market and this rate is negligible but android app and Android phones decreased the positions of other companies. The third platform is windows as they sold only 0.4% and their share is continuously decreasing every year.

The most popular app stores are owned by the Apple and Google. Now, this is just a dream for other competitors to catch them in terms of applications or number of developers. Among android, the income satisfaction is more pronounced income distribution is balanced among iOS developers. 28% of iOS developers generated over $6000 monthly since 2016 and only 14% of Android developers achieved this feat.

Variety in Mobile Applications :
Android and iOS are producing the high-performance CPUs, High definition graphics, best quality displays, fast internet connection. This turned the smartphones into gaming devices. According to the App, Annie report stated that mobile games generated 85% revenue of the mobile app market. These stats show the total revenue growth was $35 billion worldwide. As the time passes, there is a sharp increase in various application categories. In the year 2017 mobile application market found new heights in application usage.

  • Different application (Customized Applications) like icons, wallpapers, launchers, and many other customization applications. These applications are at the top of the list with the amazing 350% rise in their session.
  • With a huge growth of 140%, mobile versions of newspapers and magazines are on the second number.
  • With the rise of 125% productivity tools and applications are on the third number.
  • With the growth of 81% lifestyle and shopping solutions are on the fourth number.
  • With the growth of 53-54% travel, sport, health, and fitness applications are on the fifth number.
  • With the decline of 1%, only games turned out to be the only outlier.

Concluding Remarks :
The rapid growth in mobile App development isn’t stopping anytime soon. Strong competition is increasing in the market as the developers are applying different new monetization methods and developing a more useful solution for the users. In the last couple of years, the monetization models have been shown to be very effective. In the modern era, the Android and iOS are the leading mobile operating systems for the mobile development. They have the biggest mobile application stores.  The above-mentioned market trends show that the mobile applications trend will continue to grow higher and higher in the upcoming years. Mobile applications are the need of the time. Mobile applications are really helpful in the growth of any business. For any business mobile applications are the necessary thing. If you want a mobile application for your business you can hire the best mobile app developers from ArhamSoft. They have highly professional mobile app developers the app developed by the ArhamSoft can be a plus point for your business.