The business of making mobile apps is growing. People depend increasingly on their phones; customer behavior and technology are changing rapidly. Businesses, developers, and other stakeholders in this fast-paced area must know the most crucial figures, trends, and insights as 2024 nears its end. Questions like "How many apps are there?" and "Whats the biggest app on mobile size" frequently come up due to the vast selection of apps available. It shows how big and varied the world of mobile apps has become. Let's learn more about the mobile app business and look at some significant trends that will change the mobile app environment in 2024.
Industry Overview
By 2024, experts estimate the global mobile app business would bring in $430.9 billion. With a growth rate of 9.27% per year, this sum will probably reach $614.4 billion by 2026. More individuals buy smartphones and have internet connection on their phones, which are the leading causes of this increase. Businesses must negotiate this competitive landscape with cutting-edge products, with how many apps are there on major platforms being a key factor.
The Apple App and Google Play Store have over 5 million apps currently. This shows that the number of mobile apps is growing. Not only is it hard for makers to make an app, but it's also hard to ensure that it stands out in a market with so many others.
Key Trends and Statistics in Mobile App Development
Mobile app development constantly evolves as new technology and consumer preferences propel advancement. Businesses ought to follow fresh trends in 2024 to remain competitive and provide innovative mobile experiences.
1. The Rollout of 5G Technology
Developing mobile apps will be very different with 5G technology. It has speeds that are 100 times faster than 4G and less delay. This will let developers make apps that use a lot of info. AR, VR, and mobile games are some examples. They all offer real-time, engaging experiences. With how many phone apps are there, 5G will make them work better, making users happy. To stay competitive, app makers must improve their apps with this technology by 2024. It will also create new opportunities for fields that need to share data in real time, like healthcare, shopping, and entertainment. People think that 5G will make more things possible and speed up the development of new mobile apps.
Must Check: App Development Cost Calculator
2. On-Demand Apps
Apps that offer quick services have become very popular because of the rise of the on-demand market. Some apps bring food, help you get a ride, and do things around the house. In 2023, people spent $57.6 billion on on-demand apps, which is likely to increase. Because these apps are so helpful and quick, you can't live without them. Developers need to concentrate on enhancing user experience and speed, given how many apps are there to cater to this growing market. By 2025, there will be a substantial $335 billion worth of on-demand mobile applications and websites in the market.
On-demand apps with lots of features are what companies like Owebest Technologies do best. They give companies the tools they need to get into this profitable market. The on-demand economy will grow exponentially in 2024 rather than slow down.
3. AI and ML
Machine Learning and Artificial Intelligence are changing the way apps work significantly. They are getting smarter and better at understanding things. Adding AI to mobile apps lets them provide personalized experiences, guess how users will behave, and do repetitive jobs automatically, like using robots for customer service. AI will be essential in separating great apps from the rest as the number of existing apps keeps growing. The market for AI was worth $19.59 billion in 2023, and its use in mobile apps will only grow. Voice assistants, picture recognition, and prediction analytics are all becoming the norm. Businesses will use AI to improve apps and get customers more involved.
Must Check: AI-Powered Software Development
4. Low- and No-Code Development Platforms
Low-code and no-code development solutions are helping companies rethink how they create apps. It lets people who aren't developers make mobile apps without having to write a lot of code. These tools make the growth process easier, saving time and money. This tool will have a market worth $125.75 billion by 2027. Low-code platforms make app development more accessible as more businesses look into how many applications are there in this market. It lets little companies fight.
You can use these tools better with the help of Owebest Technologies. We can assist your business in getting ideas to the market fast. In a hectic environment, we can assist you to stay current with the competitiveness.
5. The Super-App Phenomenon
Super-apps are tools that can do more than one thing. They blend different services into one. These include buying, texting, paying for things, and calling for a ride. The world market for super-apps was worth $61.35 billion in 2022. By 2032, it's likely to be more than $714.73 billion. Super-apps simplify the user experience by combining everything into one platform, which is essential given how many phone apps there are.
Businesses that want to combine multiple functions into a single platform need to think about the biggest mobile app. This is because super-apps are becoming more popular. Super-apps like WeChat and Alipay are very popular in places like China because they make life easier for users, which keeps them coming back. Businesses should consider this trend when making their app strategy. These apps could get people's attention and get them more involved.
6. Cloud Computing Integration
Adding cloud computing is quickly becoming an essential part of making mobile apps. In this way, apps can store info offline and work better. About 83% of business tasks will likely be in the cloud by 2024. The freedom to grow and lower costs of cloud options are driving this trend. Cloud computing aids developers in shrinking app size and enhancing user experience, given how many apps exist and the amount of data storage needed. In fields like e-commerce and healthcare, where handling big information is very important, the flexibility of cloud-based apps is essential.
Owebest Technologies has cloud connectivity services to ensure your app works well on all devices.
7. Predictive Analytics
In the process of making mobile apps, predictive analytics is growing in importance. It lets businesses guess how users will act and make apps run better. By looking at past data, developers can guess what users will do next, which gives them a more unique experience and makes them more likely to stick with the app. This trend is significant in fields like exercise, entertainment, and online shopping, where meeting users' wants is very important. Predictive analytics allows apps to make smart choices, improving the user experience, given how many apps exist that rely on user data to drive engagement. By 2024, all popular mobile apps will use predictive analytics as a normal feature. Businesses will be able to keep ahead of rivals.
8. Virtual & Augmented Reality
AR and VR smartphone apps will allow users to experience things more realistically. In 2023, the AR/VR market brought in $32.1 billion, which is likely to keep increasing. AR and VR are very popular in fields like healthcare, education, and games, and offering virtual experiences is very important. While app makers try to figure out the biggest mobile app, AR/VR technologies will continue improving user experience and adding value through engaging content. Well-positioned companies like Owebest Technologies can create new AR/VR apps that meet the needs of your business.
9. Mobile Commerce
More and more people are shopping online with their phones, which is growing mobile shopping. Because of this trend, businesses have made apps just for mobile purchases, which make shopping easy, safe, and smooth. M-commerce will continue to grow in 2024 as more companies try to take advantage of the biggest markets for apps global. Mobile shopping sales will be a massive $2.52 trillion in 2024. M-commerce apps get people to interact with brands by giving them features like one-click payments, reward programs, and personalized buying experiences.
10. Beacon Technology
In the mobile app business, beacon technology is picking up speed. Location-based services that make customers more interested are what it does. These Bluetooth-enabled gadgets send signs to nearby smartphones that send custom alerts and deals. Retail, event planning, and leisure businesses use beacon technology to make location-aware apps that interact with users in real time. Beacon technology can give companies an edge by providing context-specific content as the number of phone apps grows.
Biggest Markets for Apps Global
The US, China, Japan, and India continue to be the biggest markets for apps global. Most app downloads, customer buying, and investments in app creation are all happening in these areas. In addition to being home to sizable people, these nations also have highly developed tech environments. It makes them good places for mobile apps to grow.
If everything goes as planned, the US app market will grow by 8.93%, reaching USD 285.30bn in 2029. There has also been a lot of increase in Japan and India, where app use is skyrocketing across many businesses. Some of these are shopping, games, and entertainment.
Conclusion
The mobile app industry will keep expanding and generating fresh concepts in 2024. Fresh technologies like 5G, artificial intelligence, and augmented reality/virtual reality lead the way. Businesses that want to seize the opportunities in this field must keep ahead of the curve. With millions of apps competing for users' attention, developers and companies must understand how many apps exist and react to these trends.
Owebest Technologies is ready to help businesses deal with these changes. We provide cutting-edge solutions to meet the current mobile app market's specific needs. Contact us immediately to find out how we can help your business succeed in the ever-changing world of phone apps!