App Development Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 10.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
App Development Market Analysis
The App Development Market is expected to register a CAGR of 10.25% during the forecast period.
App development involves planning, designing, coding, and testing software applications to meet business needs and enhance customer experiences.
- Artificial intelligence (AI) and machine learning are becoming more predictive, personalized, and autonomous. Developers will use these technologies to anticipate users' needs, offer hyper-personalized experiences, and perform complex tasks without human intervention.
- Growing internet penetration is a significant catalyst for the app development market. With more users connected, there's a growing appetite for e-commerce, online banking, and other digital services, prompting businesses to develop apps to meet these needs.
- In November 2023, Amazon.com, Inc., has strengthened its partnership with Salesforce. This collaboration enhances product integrations, particularly in the realms of data and artificial intelligence (AI). Salesforce products are now available on the AWS Marketplace. This expanded agreement streamlines the process for customers, allowing them to manage their data across both Salesforce and AWS with ease and security. Furthermore, it enables these customers to responsibly integrate advanced generative AI technologies into their applications and workflows.
- As businesses increasingly seek to offer digital services, the demand for app development is increasing. Many companies are undergoing digital transformation to stay competitive, prompting the development of mobile apps that enhance customer engagement and streamline operations.
- Apps frequently manage sensitive data, including financial records and proprietary business information. These apps become prime targets for cyberattacks, data breaches, and unauthorized access without robust security measures. Adhering to industry regulations is imperative, particularly in healthcare, finance, and e-commerce. Non-compliance can lead to legal repercussions, tarnished reputations, and diminished customer trust.
App Development Market Trends
Retail and E-commerce End-user Vertical Segment is Expected to Hold Significant Market Share
- The retail and e-commerce sectors are driving significant innovation in the app development market. As businesses strive to enhance customer experiences and streamline operations, the demand for sophisticated, user-friendly, and engaging apps will continue to grow. Developers focusing on these sectors will find opportunities for growth and creativity in creating solutions that meet customers' evolving needs.
- Retailers focus on creating intuitive interfaces that enhance the shopping experience, making it easier for customers to browse and purchase products. Apps incorporate features like one-click checkout, mobile wallets, and guest checkout options to streamline purchasing.
- Leveraging data analytics, apps can provide personalized product recommendations based on user behavior, preferences, and purchase history. Push notifications and in-app messages allow retailers to send personalized promotions and offers to users, enhancing engagement.
- Many apps utilize AR to allow customers to try on clothes, makeup, or accessories virtually, enhancing the shopping experience and reducing return rates. AR features can also provide product demonstrations, helping customers make informed purchase decisions.
- The advent of 5G is set to revolutionize app development for retail and e-commerce by enhancing user experiences, enabling innovative technologies, and improving operational efficiency. According to VIAVISION, 5G network access was available in 503 cities in the United States, the most of any country worldwide. China followed in second, with 5G availability in 356 cities. Businesses that leverage these advancements will be well-positioned to meet evolving consumer demands and drive growth in the competitive digital landscape.
Asia Pacific Expected to Witness Significant Growth in the Market
- The Asia Pacific app development market is poised for continued growth, driven by technological advancements, changing consumer behaviors, and supportive government initiatives. Companies that can adapt to local preferences and leverage emerging technologies drive the region's market growth.
- The region is experiencing significant growth in mobile app development, fueled by increasing smartphone penetration and internet connectivity. The radio adoption of 5G, AI, and IoT technologies is transforming app capabilities, allowing for more interactive and efficient applications.
- Extended reality (XR), which encompasses augmented reality (AR), virtual reality (VR), and mixed reality (MR), is rapidly gaining traction in the mainstream in Asia Pacific. Blockchain technology spearheads the creation of decentralized applications (dApps), which function on peer-to-peer networks, enhancing security, transparency, and user control.
- The growth of online shopping is leading to increased investment in retail apps in the region. The gaming industry is booming in the area, with mobile games accounting for a substantial share of the market, driven by casual and competitive gaming.
App Development Industry Overview
The app development market is highly fragmented due to the presence of both global players and small and medium-sized enterprises. Some of the major players in the market are Intellectsoft LLC, Trango Tech Limited, Mobcoder, App Maisters, and Designli, LLC.
Market players are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain a sustainable competitive advantage.
App Development Market Leaders
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Intellectsoft LLC
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Trango Tech Limited
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Mobcoder
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App Maisters
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Designli, LLC.
*Disclaimer: Major Players sorted in no particular order
App Development Market News
- July 2024: Kainos and Workday Strengthen Partnership to Enhance Co-Innovation and Deliver Tailored Apps to Clients through Built on Workday. This strategic move deepens Kainos' collaboration with Workday, highlighting both companies' commitment to their clients, co-innovation, and the Built on Workday initiative. Through their joint efforts in app development and distribution, they aim to amplify the value that shared clients derive from their Workday investments, ensuring these clients adapt to the evolving work landscape.
- January 2024: Neptune Software has teamed up with KPS AG, a consulting partner specializing in customer-centric transformations, to deliver an advanced solution for developing enterprise applications across various industries. Neptune, a low-code app development company, drives agile digitalization and refines business processes and user interfaces, particularly within the SAP landscape. This collaboration ensures clients benefit from a faster, more cost-effective transformation of their business processes through innovative low-code app development.
App Development Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Internet Penetration
5.1.2 Businesses Increasingly Looking to Offer Digital Services
5.2 Market Restraints
5.2.1 Data Privacy Concerns and Security Challenges
6. MARKET SEGMENTATION
6.1 By Types of App Development
6.1.1 Native Mobile App Development
6.1.2 Text Low-code App Development
6.1.3 Web App Development
6.1.4 Hybrid App Development
6.1.5 Cross-Platform App Development
6.1.6 Enterprise app development
6.2 By Deployment Type
6.2.1 On-premise
6.2.2 Cloud
6.3 By Application Type
6.3.1 Web-based
6.3.2 Mobile-based
6.4 By End User Vertical
6.4.1 Gaming
6.4.2 Music & Entertainment
6.4.3 Health & Fitness
6.4.4 Social Netweorking
6.4.5 Retail and E-commerce
6.4.6 Travel and Hospitality
6.4.7 Learning and Education
6.4.8 Others
6.5 By Geography***
6.5.1 North America
6.5.2 Europe
6.5.3 Asia
6.5.4 Australia and New Zealand
6.5.5 Latin America
6.5.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Intellectsoft LLC
7.1.2 Trango Tech Limited
7.1.3 Mobcoder
7.1.4 App Maisters
7.1.5 Designli, LLC.
7.1.6 Naked Ventures LLC
7.1.7 Utility NYC LLC
7.1.8 Softnix
7.1.9 Stfalcon LLC
7.1.10 OpenXcell
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
App Development Industry Segmentation
App development involves planning, designing, coding, and testing software applications to meet business needs and enhance customer experiences.
App Development Market is Segmented by types of app development (native mobile app development, text low-code app development, web app development, hybrid app development, cross-platform app development, and enterprise app development), by deployment type (on-premise, cloud), by application type (web-based, mobile-based), by end user vertical (gaming, music & entertainment, health & fitness, social networking, retail and e-commerce, travel and hospitality, learning and education, others), by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.
| By Types of App Development | |
| Native Mobile App Development | |
| Text Low-code App Development | |
| Web App Development | |
| Hybrid App Development | |
| Cross-Platform App Development | |
| Enterprise app development |
| By Deployment Type | |
| On-premise | |
| Cloud |
| By Application Type | |
| Web-based | |
| Mobile-based |
| By End User Vertical | |
| Gaming | |
| Music & Entertainment | |
| Health & Fitness | |
| Social Netweorking | |
| Retail and E-commerce | |
| Travel and Hospitality | |
| Learning and Education | |
| Others |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
App Development Market Research FAQs
What is the current App Development Market size?
The App Development Market is projected to register a CAGR of 10.25% during the forecast period (2024-2029)
Who are the key players in App Development Market?
Intellectsoft LLC, Trango Tech Limited, Mobcoder, App Maisters and Designli, LLC. are the major companies operating in the App Development Market.
Which is the fastest growing region in App Development Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in App Development Market?
In 2024, the North America accounts for the largest market share in App Development Market.
What years does this App Development Market cover?
The report covers the App Development Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the App Development Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
App Development Industry Report
Statistics for the 2024 App Development market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. App Development analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
