Smartphones, wearable devices facilitating growth of app store market

The Global App Store Market, valued at USD 136.18 Billion in the year 2020 has been witnessing unprecedented growth in the last few years on the back of increasing number of smartphone and tablet Users, increasing demand of wearable devices is one of the major reasons behind the increasing App Store Market globally. Additionally, increasing internet Penetration, increasing monetization of Apps will drive the App Store Market market value in the near future.

The main growth in App Store Market has been registered from APAC in 2020. The rising smartphone users and increasing internet penetration in APAC countries and rising demand of new technologies in mobile applications, is expected to infuse market growth tremendously.

Some of the factors such as increasing demand of cross-platform app development, high proliferation of smartphones and rising internet penetration are the major reasons behind the increasing App Store Market globally. Additionally, increasing technological advancements like IoT, 5G and AI in application development is strongly linked to increasing demand of App Store Market and the need for different apps in different sectors is increasing worldwide which is making every country to invest in this sector. The driving factor for the App Store Market during the historical period was growing demand of mobile users and increasing demand of new apps among youngsters.

The Azoth Analytics research report ‘Global App Store Market (2021 Edition) has analysed and segmented the App Store Market by Value (USD Billion). The report has further analysed the App Store Market by Operating System (Android, iOS and others), by Application (Gaming, Music and Entertainment, Travel and Lifestyle, Business and Utility Apps and Others), by Region (Americas, Europe and Asia Pacific) and By Country (United States, Brazil, Canada, Germany, France, United Kingdom, China, Japan, South Korea and India) for the historical period of 2016-2020 and the forecast of 2021-2026.