Mobile App Development: A Multi-Trillion Dollar Business

As 2016 is passing by ushering the way for new year to come in a few days, the multi-trillion dollar business of mobile app development is expected to gain more profits in the days to come. Economists have predicted that the app development business is expected to reach as much as $3.7 trillion by 2020.

The availability of 4G mobile network will contribute greatly to turn the profit for this industry. Faster network connection, enhanced browsing speed and a whole new user experience are the elements that will contribute to the success of 4G mobile network and thereby boosting the entire mobile app development business.

Availability of faster mobile network anytime, anywhere is the key to entice customers for purchasing and using any particular app. Faster network also makes it easier to avail apps for online transactions, shopping from online stores and effortlessly using a number of other e-commerce services.

As of now, the estimated number of Google play store apps is near to 2.2 million and that of Apple app store is nearly 2 million functional apps available to be used by users worldwide. The number is increasing rapidly every single day. Apple app store alone gets more than 1000 applications from solo enthusiast developers or the ones who are professionals in this field. It boosts the idea that mobile app development is an easy money making business for the entrepreneurs.

Let’s dive deep into the details on how this business is expected to grow leaps and bounds in the upcoming years.

Virtual reality apps will play a major role

VR (virtual reality) & AR (augmented reality) have made it possible for app developers to make the virtual app reality seem real for the users. It increases their engagement with an app and also contributes to the popularity of the application. VR, on one hand, takes user’s gaming experience to the whole new level whereas AR based apps such as SnapShop showroom app, myNav, iOnRoad etc. helps users determine how a particular furniture will look in their space.
 

Artificial intelligence embedded mobile apps

Technology giants including Facebook, Google, IBM etc. are interestingly interrogating artificial intelligence technique to embed in mobile apps. As Apple’s Siri has got natural language understanding in order to fulfill the command of the owner, more such applications are ready to be rolled out by different social networking giants in the upcoming year. 

Cross-platform development

Today, businesses have gone innovative in terms of use of technologies, which in turn has paved the way for smart devices to be used by businesses for reaching to the audiences effortlessly. Working with an app having confined platforms would hinder the growth of the business and further the revenue as well. Therefore, more and more businesses are utilizing cross-platform applications that easily run on more than one platform. It helps widening the reach of the business.

Parting thoughts

Innovation in mobile app development is a thing to look out in the upcoming years. As the technology is growing exceptionally well, the related industry is expected to watch outstanding innovation in terms of app development and designing approach. The innovation will also contribute to add more revenue in the related business making it highly profitable for business professionals. Ultimately, it is the user who is going to gain the major benefits.

Appdexa is focused on listing top mobile app development companies that create exceptional app ideas (development & designing). It has successfully win an expanded user-base by providing similar assistance.