Growth of Mobile Application Development

The growth of mobile applications has been picking up stream in recent years because of the dependency of billions of mobile phones and tablet users on them. A study was conducted which showed that 88% of the time spent on these devices are spend on applications. They have now become the natural parts of our lives. Want to text someone? Get an app! Want a ride back home? Get an app. Want to watch cooking videos? Get an app. Want to find a location? Get an app. Want to read the news? Get an app. Want food delivered? Get an app. There is possibly a mobile application for everything that eases our life. We have become so reliant on them that we can call them an extension of ourselves.

This also means if you are planning to develop an application yourself, there are fair chances that you will be successful. However, in order to be so, you need thorough knowledge and understanding of this field and even a mentor how will provide you with the valuable insights of mobile app development landscape. So, let’s dig into the statistics suggested to simplify your journey.

Mobile apps have significantly grown over the past few years. And the multi-billion-dollar industry isn’t showing signs of slowing down any time soon.

Mobile App Downloads

This industry is growing at the rate like no other in the past few years and is not showing signs to slow down anytime sooner. This has made it a multi-billion-dollar industry, hence, catching the eye of various researchers who state that the industry has grown up to 83% in the span of just five years.

When an application is built, the first thing that is prioritized is the monetization strategy as we all work for money, but how come 90% of the mobile applications are free? How does free mobile applications generate revenue?

These applications earn revenue by displaying interactive ads in various formats within their application. However, if you want to earn more, you can always include in-app purchases. The question that arises here is why can’t we simply put a price on the application and make it less complicated? Well, the answer is competition. A user will always prefer a free application over a paid one on first sight and may purchase the paid version or subscription of the free app later. This is the psychology of most of the users.

Mobile App Usage

Have you ever wondered or calculated how much time do you spend on your mobile phone or tablet? It has been seen that an average smartphone user spends almost three to three and a half hours on it out of which 90% is spends on applications. Data were also collected to check the average amount of time a user spends without checking their phone which was shockingly just 12 mins!

When it comes to the age factor, millennials and gen z’s are the key drivers in this growth race of mobile applications. The numbers that have come forward describes a lot about its usage. Moreover, an average number of apps installed on a smartphone is 80 out of which only 10 are used on a daily basis.

These figures give us crucial information about the growing need and usage of this industry. The application should not only be installed by the users but also used in order to be successful. It should provide excellent user experience and functionality for the users to keep using it.

Mobile App Revenue

When recorded as per revenue, the growth of mobile applications is steep and tremendous without a doubt. It has been consistently increasing every year which made the researchers note that a large portion of this revenue is coming from platforms that provide video content such as YouTube, Netflix, TikTok, etc. These apps have been constantly maintaining their positions in the “trending” category on app store and play store.

On the other hand, mobile games set a new track record of $120 billion in consumer spending in 2021. This clearly proves that, if you have correct knowledge and skills to create a mobile application, this industry incredibly potential and has a lot to offer.

Popular Apps and Categories

Applications are also categorized and rated on the basis of downloads and usage. Most of the applications are owned by google, however, the applications that are ranked the highest in downloaded and used are owned by Facebook like Instagram, WhatsApp, Facebook, Messenger and TikTok on both iOS and Android platforms combined. The top three applications that has the highest number of users are also owned by Facebook – WhatsApp, Facebook, and Messenger respectively.

With this one can conclude that the most used applications are based on socializing and entertainment, and after them comes the video applications that has acquired 21% of the total time usage – Netflix, TikTok, and YouTube. Followed by them comes gaming applications, health and fitness-based applications, and finance apps.

Conclusion

Mobile applications have become a significant part of our lives, hence, the industry is booming with revenue and opportunities even for newbies. The growth is and predicted to be consistent even in the future, hence, it is the right time to launch or build an application if you have been skeptical for a long time.