The global business app market size is expected to reach USD 7.17 billion by 2028, registering a CAGR of 14.5% over the forecast period, according to a new report by Million Insights. The market growth is credited to the rising demand for e-mail marketing campaigns-based business apps across the globe. A surge in the adoption of team management business tools from the consumers in China is also fueling the market growth.
The growing demand for real-time support of e-commerce platforms, comprehensive accounting app, and cloud-based business apps is procuring new opportunities for the global market. The high demand for intuitive app services in Europe is fueling market growth. Rising demand for lead management apps from emerging economies, such as China and India, is expected to boost market growth during the forecast period.
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Key players are focusing to provide e-tax filling business apps. Several companies are providing the project management tool for several mid-scale businesses. Key players are also focusing on procuring customized business apps, card scanner apps, and checklists & labels tracker apps to improve the operational performance of the business. AI-driven management apps will create rewarding opportunities for the global key players.
The others marketplace segment is projected to register a significant CAGR during the forecast period. Rising demand for more secured Linux-based operating systems from the consumers of Asia Pacific is propelling the market growth. The OSX platform is majorly adopted in China to provide a streamlined user interface without compromising functions. Marketplace-oriented in-app payment modes are gaining traction. Better and consistent operating systems will contribute to market growth.
North America accounted for the largest revenue share in 2020 due to the increased focus on digital business skills from the consumer in the U.S. and Canada. The rising trend in the U.S. to adopt social networking-based business apps with the feature of in-app purchases is propelling the market growth. The market share of the U.S. is driven by the escalating demand for financial context-based business apps. The ease of accessibility of the business apps with downloadable options will contribute to the market growth. Moreover, the rising demand for inventory management apps in Canada is anticipated to boost market growth.
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Business App Market Report Highlights
• North America was the largest regional market in 2020 due to the increased demand for survey apps from consumers in the U.S. and Canada
• The Google Play Store segment accounted for the highest revenue share in 2020. This can be credited to the high demand for the local search optimization-based app from the consumers in the U.K. and the U.S.
• The Apple iOS Store segment is projected to witness the fastest CAGR from 2021 to 2028 owing to the growing demand for encrypted text service-based business applications from consumers in emerging economies, such as China and India
• Asia Pacific is projected to witness the fastest CAGR from 2021 to 2028. Rising demand for on-the-go networking applications in India is estimated to drive the regional market
Business App Market Segmentation
Million Insights has segmented the global business app market on the basis of Marketplace and region:
- Business App Marketplace Outlook (Revenue, USD Million, 2017 – 2028)
- Google Play Store
- Apple iOS Store
- Others
- Business App Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
List of Key Players of Business App Market
- Fresh Lime Soft
- MobileCoderz Technologies
- Michigan Software Labs
- Simform
- Mobindusty
- App Maisters
- RV Technologies
- Orangesoft
- GeekyAnts
- NMG Technologies
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