At present, the global population is around 8 Billion. Out of that, 6.66 Billion people who use smartphones or mobile devices.
choosing the best cross-platform app development framework

There are 8.93 million smartphone apps currently available across the globe. Google Play Store has 3.553 million apps and Apple App Store has 1.642 Million apps. In February 2023 itself, approx 87,000 mobile apps were released through the Google Play Store.
So considering this data, it is evident that the adoption and creation of mobile apps is skyrocketing.

Whether it is consumer or business, mobile apps benefit every segment and category in several ways. Therefore, the demand for more mobile app development solutions is on the rise. Want to know the facts? Keep reading

Overview of mobile app development
Mobile app development is the process of building mobile apps for smartphones and mobile devices. It involves conceptualization, designing, programming, testing, and deployment of apps to app stores. Mobile app development is a complex software development process that consists of different professionals like app developers, UI/UX designers, software engineers, project managers, QAs, and business analysts. There are many technologies used in app development to create a full-fledged mobile application. A developer or mobile app development company holds expertise in creating mobile apps.

Current Mobile App Development Market
The mobile app development sector is expanding at a staggering growth rate. According to the Precedence Research report 2023, the global mobile application market is projected to reach a whopping $1191.44 Billion by 2032 from $161.12 Billion in 2022 at a CAGR of 22.2%. Source

This data proves how fast mobile app development growth is increasing. And consequently, the future of the app development industry is promising. Today, mobile apps are being used across all business and industrial practices. Be it health care, retail, e-commerce, real estate, education, manufacturing, or, automobile, every business niche is utilizing mobile applications to provide their products & services to mobile users.

Companies are integrating the latest technologies like artificial intelligence, machine learning, IoT, blockchain, augmented and virtual reality, and metaverse in mobile apps to offer advanced and improved mobile app experience. Consequently, it is pushing the future of the mobile app development field for wider use cases and business applications.

Major Factors That Are Contributing To The Growth of Mobile Apps
Faster and Effective Communication
Mobile apps are faster ways to communicate with each other. Users can not only connect via call or video but also share content and other digital things. Smartphones also come with extended support features for communication. Here, mobile apps empower users to better utilize these features. Facebook, Snapchat, WhatsApp, Telegram, and LinkedIn are some popular examples of such apps.

Business-Oriented Use Cases
Mobile apps not only serve common people but also for business purposes. Businesses and industries use mobile applications for various goals. For instance, streamline their business process, provide products & services on mobile platforms, digitally transform their business operations, improve operational efficiency and workforce productivity, and much more. Therefore, businesses are highly investing in developing business-oriented mobile apps.

Cost and Time Efficiency
Mobile apps help users perform online actions very easily and quickly. It is not possible through the website or software applications. Apps have the offline capability to work, as a result, they can be accessed on low Internet. Hence, it helps in saving costs and time for businesses as well as users.

To Conclude
So looking at the current market statistics and industry reports, it is clear that the demand for mobile app development is high. The adoption of mobile apps will also increase across other sectors. And the way innovations in technologies are emerging, mobile app development will become more advanced and vast than ever. Hence, for business people, mobile app development is a great investment idea.

Author's Bio: 

Murtza Abbas, Innovative Digital Marketing Professional and Technology Whiz who closely follows the latest mobile application development technologies. He explores new technologies, and shares his knowledge through writing.