Developing an application is right for your business and there is no doubt about that. But, if you are new to this whole start-up thing and is looking for potential markets to tap in, then you are at the right place. The application development lifecycle has gained momentum with innovations and technologies converging to create a seamless experience for consumers.
Though you will do your market research on the type of application you would like to develop, here are some insights on the one which is already a hit. But, before we get to it let us know why applications have become such an important piece of the trade for enterprises and entrepreneurs.
The global mobile apps market will grow by $164.53 billion during the 2019-2023 forecast period. The growth momentum will accelerate throughout the forecast period and the compound annual growth rate (CAGR) will remain at 18%. Global mobile app store revenue is set to surpass $122 billion in 2019 with a CAGR of 29%. This is the kind of data that gives you the push to build apps that can attract good business.
1.Marketing and Advertising apps:
Advertising and marketing on mobile phones has increased to astounding levels. According to a report, 60% more apps make more money through in-app ads in 2019. The landscape of advertising has been changed by mobile-first strategies by the firms world-wide. Ads are part of every application these days and even mobile OS are using the floating and pop-up ads to monetize.
Content marketing has taken a Situs Slot new form through the mobile-first strategy, with platform capabilities, expanding to the smaller screen size of mobile. The content marketers are now using the medium of applications to promote their content. It is evident with an investment of $250 billion investment in digital marketing by these firms.
There are also video ads and other mediums on mobile that are gaining traction. You can choose to develop applications that can promote products or content-based applications that can monetize through publication of other website’s content on your application.
2. Gaming apps:
Humans are crazy about their games and mobile is no exception, the gaming industry has seen a total transformation by switching over to the mobile realm. Gaming metrics have changed and evolved into a more inclusive spectrum. Games with simple gameplay are the latest trend in gaming and is redefining the gamers community.
The market share of consumer spends on mobile games is set to cross by 60%, which is more than any gaming platform. Growth in the hyper-casual gaming has been driven through advancements in multi-player mechanics and cross-platform capabilities of the gaming apps. Simple games with more consumer engagement can attract more customers for the publishers, who are looking to monetize through in-app purchases and ad banners that often appear on games.