The Mobile App Market Still Has A Lot Of Room To Grow
App Annie reports that in 2015, the mobile app industry generated a whopping $41.1 billion in gross annual revenue and that this figure will rise to $50.9 billion. Gross annual revenue is projected to exceed $189 billion by 2020, according to Statista. Though the figures differ somewhat between researchers, the overall picture is that the market is far from saturated. App Annie’s predictions corroborate reports from Forrester that only 46% of the world’s population will own smartphones by the end of 2016. This goes to show that the much-discussed mobile revolution is just starting.
According to another Forrester statistic, there is a huge gap between leading companies that regard mobile devices as a catalyst to transforming their business and companies that consider mobile devices to be just another development channel. As of early 2016, only 18% of companies surveyed were in the first category. This number is expected to pass 25% by next year.
Consumers are evolving more rapidly than businesses. Today, the mobile Internet has clearly become a necessity for many users.
As for app popularity, aggregator apps are likely to move to the forefront. These are tools that pull content from multiple online sources and compile it into one easy-to-follow interface. The content could range from breaking news to niche subjects of interest. Aggregators are meant for those who don’t have the time or desire to visit numerous websites or install numerous apps. Some popular aggregator apps are Flipboard, News360, Feedly and IFTTT.
Aggregator apps tend to become user favorites when they are convenient or enhance the shopping experience. For instance, Facebook has done this with its Messenger app, which lets users read their feeds and order Uber rides.