Mobile Apps Market is growing fast but it’s hard to make money with

The growth of mobile applications shapes our future, how we live and spend our time, how we use the information, disseminate and digest it and how we interact with people and businesses. Developing and starting mobile app is not difficult now, but making it successful in the market is the real challenge many companies and individuals face. Let’s have a little talk on this, how you should proceed with the mobile app development is an art to learn.

Mobile App Usage

The results are extracted from App Annie, 2015 report and Ericsson Mobility report 2015. According to the data, the number of smartphone users worldwide was 2.6 billion in 2015, which was expected to grow further by 3.5 billion in 2020 making it a total of 6.1 billion smartphone users in 2020.

This is a huge number to tap in, but it makes it more difficult for the developers to grab the attention when the market is flooded with hundreds and thousands of apps.

The application downloads in 2015 were recorded at 111.2 billion according to the report, which is expected to cross 284.3 billion downloads in 2020, pretty strong growth apparently.

However, IOS application would see 64% growth in app downloads whereas 158% growth in android application downloads, making android app development having the larger stake in future app development. There is also 63% growth is expected in total global time spent on the mobile apps.

Now, these figures would definitely encourage mobile app developers to squeeze in the market and start making their fortune.

Mobile App Revenues

App Annie is a business intelligence and analyst firm, they used algorithms based on 10,000 sources and 1 million apps to draw the accurate results. According to App Annie, mobile app forecast report, 2015. Mobile app revenues are expected to grow at 20% annually, from $41.1 billion to $101.1 billion in 2020.

Revenue generated from games $34.8 billion is expected to grow by 85% reaching $74.6 billion in 2020. Global revenue generated with apps other than games $6.3 billion in 2015 would see the strong rise and reach $26.4 billion in 2020.

The revenue generated per device would also increase from $15.42 in 2015 to $16.22 in 2020.

Challenges

According to a research report by IEEE, the mobile applications counter several behavioural challenges in the global markets, the developers need to understand those behavioural challenges from country to country in order to make it more compliant locally. The data shows that 400,000 out of 600,000 apps on the iOS store have no downloads and 80% of paid android apps had less than 100 downloads.

Despite these daunting figures, the app development worldwide continues and it will continue peppier growth as we discussed above. You must conduct a strong research before start working on your mobile app idea, it could make or break you, if you fully grab and understand the mobile app from its inception to its success then you will make your fortune in the next five years.