The global Application Development Market industry is projected to grow from USD 84.993 Billion in 2022 to USD 818.35 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 38.20% during the forecast period (2022 - 2030).
Market Scope
The global application development market is driven by demand for robust applications for supporting changing dynamics of the workplace. The fast-changing aspects of the workplace and integration of technology in processes can bode well for the market. Rise of digitalization owing to adoption of cloud and IoT can disrupt the industry positively. Development of platforms for creation of customized applications with minimum coding is likely to provide new opportunities to the market.
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Application development is the process of creating a computer program or a set of programs to perform the different tasks that a business requires. This process involves planning, designing, coding, testing, deploying, and maintaining the software application. Application development typically includes analysis of the user's needs, coding the software, and testing the application to ensure that it meets the user's requirements. Application development is a complex and time-intensive process, and requires a team of experts with a variety of skills and experience.
Application development is used to create software applications that can be used to carry out a variety of tasks and functions. These applications can be used for a variety of purposes, including creating websites, applications for mobile devices, desktop applications, and applications for embedded systems. Application development can also be used to improve existing software applications and to create new applications that are tailored to the specific needs of a business or organization. Common uses of application development include creating web applications, designing mobile apps, developing desktop applications, creating embedded system applications, and creating software applications for the Internet of Things (IoT). Additionally, application development can be used to improve the security of existing applications and to create applications that are optimized for specific hardware or software platforms.
Rise of web application and mobile applications is likely to spur the demand in the application development market. Development of these applications to save on time and improve productivity can favor the market. Moreover, use of smartphone applications for engaging audiences on social media platforms will bode well for the market.
Enterprise applications and implementation of integration strategies can lower risks and improve information among systems and devices. Transformation of processes and maturity of the industrial sector can drive the demand in the application development market.
COVID-19 Impact
The COVID-19 pandemic has shutdown many physical services. But the shift to applications and rise of mobile computing has led to investments by various players in apps and provide an impetus to application development. Collaboration with employees and ramping up productivity during the pandemic can bolster the market growth.
Segmentation:
Cloud Deployment to Take Large Market Share
The cloud segment is set to capture maximum share of the application development market owing to offering of subscription models and its use by SMEs and large enterprises. Development of applications on cloud by saving on expenses on infrastructure and maintenance can drive the segment growth.
Media Entertainment to be the Biggest End-user Industry
The media entertainment industry can employ the services of application development professionals owing to launch of various streaming platforms and consumption of online content by customers.
Application Development Type Outlook:
On-premise
Cloud
Application Development Organization Size Outlook:
Small Medium Enterprise
Large Enterprise
Application Development End User Outlook:
BFSI
Media Entertainment
IT Telecom
Others
Regional Analysis:
North America to Lead in Global Application development Market
North America is expected to lead in the global application development market owing to adoption of cloud services and huge demand for advanced security. Cost benefits to corporations and extended expenditure for security can drive regional market demand. Rise of augmented and virtual reality platforms can provide new opportunities for novel applications to users.
Europe to Capture Second-highest Market Share
Europe is expected to capture the second-highest market share due to demand for artificial intelligence and presence of as-a-service solution providers. Development of cloud-native applications for powering business innovation and agility can drive the application development market growth.
Competitive Analysis:
HPE Company (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), Salesforce.com, Inc. (U.S.), Microsoft Corp. (U.S.), Alphabet Inc. (U.S.), and Oracle Corp. (U.S.) are key players in the global application development market. Development of new components and collaborations are to be witnessed in the market.
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Industry News:
Infostretch has partnered with Unqork to ease the process of application development and increasing need for client to build tailored applications.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Deployment
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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