Application Development Market
Mobile Computing to Power Global Application Development Market Demand
The global Application Development Market size is projected to reach USD 9,336 million by 2023, according to the latest report by Market Research Future (MRFR). The report on the application development market provides a broad outlook on development of applications and programs in enterprises and homes. The scope for the forecast period (2020-2027) combined with sudden outbreak of the COVID-19 pandemic has been included in the report.
The global application development market is driven by demand for robust applications for supporting changing dynamics of the workplace. The fast-changing aspects of the workplace and integration of technology in processes can bode well for the market. Rise of digitalization owing to adoption of cloud and IoT can disrupt the industry positively. Development of platforms for creation of customized applications with minimum coding is likely to provide new opportunities to the market.
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Rise of web application and mobile applications is likely to spur the demand in the application development market. Development of these applications to save on time and improve productivity can favor the market. Moreover, use of smartphone applications for engaging audiences on social media platforms will bode well for the market.
Enterprise applications and implementation of integration strategies can lower risks and improve information among systems and devices. Transformation of processes and maturity of the industrial sector can drive the demand in the application development market.
The COVID-19 pandemic has shutdown many physical services. But the shift to applications and rise of mobile computing has led to investments by various players in apps and provide an impetus to application development. Collaboration with employees and ramping up productivity during the pandemic can bolster the market growth.
Cloud Deployment to Take Large Market Share
The cloud segment is set to capture maximum share of the application development market owing to offering of subscription models and its use by SMEs and large enterprises. Development of applications on cloud by saving on expenses on infrastructure and maintenance can drive the segment growth.
Media & Entertainment to be the Biggest End-user Industry
The media & entertainment industry can employ the services of application development professionals owing to launch of various streaming platforms and consumption of online content by customers.
North America to Lead in Global Application development Market
North America is expected to lead in the global application development market owing to adoption of cloud services and huge demand for advanced security. Cost benefits to corporations and extended expenditure for security can drive regional market demand. Rise of augmented and virtual reality platforms can provide new opportunities for novel applications to users.
Europe to Capture Second-highest Market Share
Europe is expected to capture the second-highest market share due to demand for artificial intelligence and presence of as-a-service solution providers. Development of cloud-native applications for powering business innovation and agility can drive the application development market growth.
HPE Company (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), Salesforce.com, Inc. (U.S.), Microsoft Corp. (U.S.), Alphabet Inc. (U.S.), and Oracle Corp. (U.S.) are key players in the global application development market. Development of new components and collaborations are to be witnessed in the market.
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Infostretch has partnered with Unqork to ease the process of application development and increasing need for client to build tailored applications.
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