FEATURE : MOBILE
Mobile Apps market size to record
US $ 1.09 billion growth from 2023 – 2027 and global smartphone shipments see a ‘ remarkable ’ surge .
The global mobile apps market size is estimated to grow by US $ 1.09 billion from 2023 to 2027 , according to Technavio .
This growth is expected to occur at a Compound Annual Growth Rate ( CAGR ) of 22.97 % during the forecast period .
The Technavio Global Mobile Apps Market 2023 – 2027 identifies key trends fueling growth arise from the increasing number of mobile apps for IoT devices .
The report outlines demand for IoT devices as rising quickly due to their convenience , versatility and connectivity .
IoT devices connect physical objects via software and sensors over networks with the surge fuelled by their integration with smartphones through mobile apps .
The report projects Smartphone shipments to rise , with smartphones expected to make up over 71 % of all mobile phones globally by 2022 .
The increasing smartphone numbers can link with various IoT devices like watches and glasses through apps . Mobile apps enhance data recording and tracking for analysis by facilitating flexible data sharing among devices compared to web pages .
Consequently , many mobile apps are integrating with IoT devices , the report says .
New stats pitch ambitious projections for mobile apps and smartphones
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