As per Statista, mobile applications will produce nearly $693 billion globally in revenue by 2021 through app store downloads and in-app advertising.
By the end of 2018, global mobile application revenues amounted to more than 365 billion US dollars. Seeing the current trade, it is expected that the mobile app market is projected to generate over 935 billion U.S. dollars revenue through in-app purchases and paid downloads by the end of 2023.
The top-grossing mobile gaming application publishers in the Google Play Store globally in January 2019 were Supercell, King, and Bandai Namco entertainment with more than 40 million U.S. dollars in-app revenues each. As far as the leading non-gaming app publishers are considered, they are namely Google, Tinder, and Pandora.
Why Mobile App Development Important for Your Business?
Here we will try to know about the importance of having a strong online presence of a business via a mobile application and how this phenomenon is a part of mobile marketing in the current scenario. That’s the reason, today Android App Development and iOS App development have so much significance.
Well, mobile marketing is a recent phenomenon that means marketing and promoting your business through mobile devices, and applications that run on your Android and iPhone devices play a major role in that. These applications help in creating a strong and robust online presence of your brand through smartphones as today we all are using smartphones in our day-to-day lives.