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Mobile Application Market to Reach $407.3 Bn, Globally, by 2026 at 18.4% CAGR, Says Allied Market Research

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Allied Market Research recently published a report, titled, “Mobile Application Market by Marketplace (Apple iOS Store, Google Play Store, and Other Marketplaces) and App Category (Gaming, Entertainment & Music, Health & Fitness, Travel & Hospitality, Retail & E-Commerce, Education & Learning and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026“. According to the report, the global mobile application industry was pegged at $106.3 billion in 2018 and is estimated to reach $407.3 billion by 2026, growing at a CAGR of 18.4% from 2019 to 2026.

Prime determinants for market

Increase in smartphone users, rise in adoption of wearable devices, and surge in data usage & Internet penetration have boosted the growth of the global mobile application market. However, lack of high-speed connectivity in developing & underdeveloped regions and uncertainty of enterprises in developing their own applications hamper the market growth. On the contrary, increase in adoption of Internet of things and mobile-connected smart objects and progress in usage of machine learning and artificial intelligence in mobile apps are expected to create lucrative opportunities in the near future.

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The play store segment to portray the fastest growth through 2026

The play store segment is expected to register the fastest CAGR of 19.1% during the study period, owing to the increase of Google play store in various mobile phones and tablets. However, the Apple store segment held the lion’s share in 2018, accounting for more than three-fifths of the global mobile application market. This is owing to different features provided by Apple store such as high security, multitasking, switching application, artificial intelligence (AI), and game center.

The entertainment & music segment to register the fastest CAGR by 2026

The entertainment & music segment is anticipated to register the fastest CAGR of 21.8% during the forecast period, owing to the rapid increase in usage of different entertainment applications. However, the gaming segment dominated the global mobile application market in 2018, contributing to nearly three-fifths of the market. This is due to the increase in addition of video games and other gaming consoles.

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Asia-Pacific to dominate the market, North-America to follow:

The global mobile application market across Asia-Pacific is expected to hold the largest share in 2018, contributing to more than two-fifths of the market. This is due to rapid economic growth and high potential for the adoption of mobile application. Moreover, the region is expected to manifest the fastest CAGR of 19.8% during the forecast period. On the other hand, North-America occupied second largest share in terms of revenue in 2018.

Major market players

  • International Business Machines Corporation
  • Cognizant
  • China Mobile Ltd
  • CA Technologies
  • Hewlett Packard Enterprise
  • Google LLC
  • Microsoft Corporation
  • Verbat Technologies
  • Apple Inc.
  • Intellectsoft

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

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Live Chat Software Market Expected to Reach $997 Million by 2023

Food Delivery Mobile Application Market Size Expected to Reach $16,605 Million by 2023

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Adaptive Learning Software Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

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Artificial Intelligence

Building a New Engine for Beijing’s High-quality Development With New Quality

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BEIJING, June 14, 2024 /PRNewswire/ — A news report from CRI Online:

Recently, the “Discovery of Diversified Beijing, Decoding New Quality Productive Forces” Online Thematic Promotion Event was held in Beijing, China.
The first Web 3.0 Industrial Park – Zhongguancun Web 3.0 Industrial Park commits to building an industrial ecological highland. The reporters experienced the metaverse space and talked with Meta human figure “Ne Zha” “Su Xiaomei” in English, immersing themselves in feeling the fun of digital intelligence.
Beijing first planned and constructed the domestic first high-level Autonomous Driving Demonstration Area. Smart vehicles, intelligent roads, real-time clouds, reliable networks, accurate maps impressed the reporters. They also experienced driverless minibuses and taxis, looking forward to the future’s intelligent transport.
In addition to autonomous driving technology, hydrogen energy is also a driving force of the revolution of the industry. It is reported that the hydrogen energy bus equipped with “Hydrofore” fuel cells has already served the 2021 Boao Forum for Asia, 2021 China-ASEAN Expo, 2022 Beijing Winter Olympics and Winter Paralympic and other major events.
Beijing also attaches great importance to the development of the biopharmaceutical industry as it is a medium-high strategic emerging industry. WeHand Pharmaceutical Co., Ltd., located in Daxing, Beijing, specializes in the research and development of original innovative drugs, with a focus on major diseases including metabolic diseases, malignant tumors, and combating inflammation and immunology.
The CDV special effects exhibition area features the company’s latest generation of virtual studio products, which enable seamless integration of virtual characters. This technology bridges the gap between reality and virtuality. Reporters truly felt the extension of the new quality productive force in the field of media integration and the transformation and upgrading of future development direction here.
During the event, the robotic arm equipped with intelligent voice interaction technology of Sound AI showed its calligraphy talent in front of the reporters. The demonstration of skillful goods-sorting by Mech-Mind robotic arms also impressed reporters, showcased the charm of the combination of AI and 3D vision technology.
We are pursuing both innovation and high quality. The multitude of innovative achievements and practical experiences emerging across various domains of new quality productive forces are showcasing to the world a Beijing of scientific and technological innovation, a vibrant Beijing, and a Beijing with a promising future.
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Artificial Intelligence

The Safavi Impact Institute Sponsors NASA’s Space Center Houston’s pilot education program in Austria

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Key News Highlights: 
The Safavi Impact Institute signs a cooperative agreement with Martin Polaschek, Austria’s Federal Minister of Education, Science and Research and with Mr. William Harris, CEO of NASA’s Space Center HoustonThe Safavi Impact Institute will be sponsoring the Moonshot programme in Austria The Moonshot programme will be delivered by Novi Education, Space Center Houston’s globally aligned education providerVIENNA, June 14, 2024 /PRNewswire/ — The Safavi Impact Institute in Austria has signed a cooperation agreement with the Federal Ministry of Education, Science and Research and representatives of the US space agency NASA’s Space Center Houston to sponsor an education programme.  

As announced by Federal Minister Mr. Martin Polaschek, The Safavi Impact Institute will sponsor for the first time the Austria pilot programme of Space Center Houston’s Moonshot education curriculum.   
Candidate schools will be selected through a competition that has already started. Students will have the exciting opportunity to take “NASA courses”. Minister Martin Polaschek, Federal Minister of Education, Science and Research and Mr. William Harris, CEO of NASA’s Space Center Houston, Mr. Francesco Reza Safavi, co-founder of the philanthropic The Safavi Impact Institute and Novi Education co-founder Mr. Francesco De Ferrari, signed a cooperation agreement for the first time in the history of Austrian education policy.
The Moonshot programme will be delivered by Novi Education Pte. Ltd., the globally aligned education provider of NASA’s Space Center Houston. Mr. Harris stated “We are honored to be a partner of Austria, Novi Education and The Safavi Impact Institute”.  
“The space race is on, and we would like to help students in Austria to have the opportunity to be a part of that” said Mr. Francesco Reza Safavi, co-founder of The Safavi Impact Institute. Mr. Safavi further added “We are honored for The Safavi Impact Institute to bring to Austria such a milestone project and to also sponsor the pilot programme.”   
About The Safavi Philanthropic Initiative:
Safavi Philanthropic Initiative’s mission is to improve lives and engage future leaders to address society’s challenges. The Initiative provides resources and financial support to organizations and individuals that help achieve this mission. The initiative does not accept any donations or charitable contributions.
Contact: Ms. Mirin Goh [email protected]
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Artificial Intelligence

Baxter Planning Wins AI-based SupplyTech Solution of the Year Award 2024

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AUSTIN, Texas, June 13, 2024 /PRNewswire/ — Baxter Planning, the leading provider of Service Supply Chain technology, has been selected as a winner of the AI-based SupplyTech Solution of the Year award for its predictive Service Supply Chain platform, BaxterPredict. The SupplyTech Breakthrough Awards recognize and evaluate the most innovative solutions, services, and companies in the rapidly evolving supply chain space. In 2024 there were thousands of nominations from across the globe.

“We are thrilled to have been awarded the 2024 SupplyTech Breakthrough Award for AI-based SupplyTech Solution of the Year,” stated Chad Hawkinson, Chief Product Officer of Baxter Planning. “Our customers have driven us to make the hype of AI a reality in spare parts management. With our BaxterPredict platform, and specifically our Prophet.ai module, we are applying AI to solve real problems for our customers and the feedback from them has been incredibly positive. Baxter Planning is in the business of helping our customers make predictions, specifically about spare parts demand. By embracing AI, we have found even more powerful ways to save our customers significant money while also improving their ability to meet their own customer’s needs.”
Integration of AI and automation in the Service Supply Chain is crucial for service organizations to maintain competitiveness and meet heightened customer expectations. The BaxterPredict platform enables companies to optimize operations, enhance efficiency, and improve accuracy in demand forecasting and inventory management.
One aspect of BaxterPredict is its new AI-enabled module, Prophet.ai. This new module utilizes AI to eliminate the guesswork associated with New Product Introduction (NPI) and Last-Time-Buy (LTB) decisions for Service Supply Chains, saving them significantly.
As the industry faces increasing pressure to provide better service at lower costs, embracing these innovations is essential for sustaining growth and achieving operational excellence.
The Baxter Planning team has been dedicated to partnering with its Service Supply Chain customers and has found real value and opportunity with the judicial application of AI into its already best-of-breed products. The company plans to invest further in AI for a variety of use cases to truly optimize Service Supply Chains.
Learn more at baxterplanning.com.
About Baxter Planning
Baxter Planning is the world leader in Service Supply Chain technology. Global customers with even the most complex service operations trust our team to help them set the spare parts plan, manage the order execution, and streamline escalation management.
The company’s end-to-end predictive platform, BaxterPredict, transforms Service Supply Chains using best practices, AI/ML, and domain expertise to drive cost reduction, increase resiliency, refine optimization, and enable end-to-end visibility control. Baxter Planning customers see reduced spend in inventory, logistics, and operations while increasing their customer satisfaction. Headquartered in Austin, Texas, Baxter Planning is used by some of the largest global high-tech, healthcare, commercial, and industrial OEM businesses.
Baxter Planning is a portfolio company of Marlin Equity Partners, a global investment firm with approximately $9 billion in capital commitments. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
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