Burgeoning Use of Smartphones to Drive Smartphone Applications Market to Unprecedented Heights

2024-11-08 07:27:13 News & Society

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Apps are a characteristic feature of modern smartphones that the first cellphones were deficient of. Similar to a computer that has a range of programs, smartphone applications range from work to play, exceedingly simple to highly elaborate, free to paid. Smartphone application makers seek to target each and every need of a smartphone user, leading to a practically limitless scope for the expansion of the smartphone applications market.

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Today, apps are a basic feature of smartphones, with all smartphones installed with a range of built-in apps. Although some specific-function apps vary from phone to phone, some of the basic apps always included in smartphones are an app to check email, an app to take notes, a Web browsing app, and other such fundamental connectivity utilities.

Built-in apps have two distinct features. Firstly, these are inherently included in the phone, and secondly, users usually do not have the right to delete them. Due to the considerable number of built-in apps in many phones, some of which the user may never use, the phone?s storage may be insufficient for the user. This has led to the term ?bloatware?, meaning unwanted factory-installed apps. Eliminating the amount of bloatware has thus become an agenda for many smartphone makers.

Developing Economies Lead Demand from Global Smartphone Applications Market

Beyond built-in apps, many apps need to be downloaded from the internet. Whilst for iPhones, apps can be downloaded from the App Store, the Google Play Store is the place for downloading apps for Android phones, although Android also supports apps that have been installed from other websites.

Many apps are completely free, with their revenue mainly coming from paid ads. Paid apps also often have trial or permanently free versions with limited functionality. To offer an alternative to these two customary options for downloading smartphone apps, some developers offer freemium apps that are free to install, but include unlockables or may levy charge for paid add-ons. Lately, freemium apps have been highly popular among developers and phone owners, so much so that in-app purchases accounted for 98% of the revenue on the Play Store in 2014.

Such high revenue contribution of smartphone applications validate the expected 55% CAGR of the smartphone applications market from 2011 to 2017. As such, the market, which stood at US$6.7 bn in 2011, is expected to be worth US$155 bn by 2017, according to Transparency Market Research. A major chunk of the revenue in the smartphone applications market is expected to be generated in developing countries such as China and India, where smartphone ownership is rising dynamically.

Web Apps in Smartphone Applications Market

In 2007, at the time of the release of the first-generation iPhone, developers did not have a way to develop new apps, and the App Store did not exist until the second version of the system software was launched. To cater to these needs, developers built Web apps that were accessible from a Web browser. Till date, Web apps are used by many services in addition to or in place of native apps. Web apps, once loaded in a browsing application, such as Chrome on an Android phone or Safari on an iPhone, operate like an app rather than like a website.