App market expected to grow to $98.03bn by 2021
A new report titled “Mobile Enterprise Application Market by Software (Accounting & Finance, ERP, Communication & Collaboration, and CRM), Operating System (Android, iOS and Windows),” from Research and Markets has predicted that the mobile enterprise application market size will grow from $48.24bn in 2016 to $98.03bn by 2021, at a CAGR of 15.24% from 2016 to 2021.
According to the report, increase in smartphone penetration, enhancement in connectivity and productivity of both employees and organisations, growing demand for real-time information capture, and organisations’ continued focus to make their business processes mobile-ready due to increase in mobile workforce are some of the driving factors in the market.
The report states that the Enterprise Resource Planning (ERP) software is expected to hold the largest market share, because it helps enterprises increase their operational efficiencies, improves communication and collaboration, anytime access to information, instant access to work centre, and improves workforce productivity.
Hybrid apps are expected to hold the largest market share during the forecast period. These apps have a suite of features, such as they can integrate with device file systems and web-based services, and they have embedded browsers to improve access to online content. Hybrid apps also have capability to support cross-platforms, which effectively reduces the development cost of developers.
In the mobile enterprise application market, hybrid apps dominate the market share due to their robust functionalities, such as cross-platform support, access to devices, and ease of development.
The SME segment is expected to dominate the mobile enterprise application market and holds the largest market share.
The mobile enterprise application helps SMEs improve their overall business efficiency and provides concise information with a faster response. Mobile enterprise application deployment in SMEs is also useful in case of office relocations, heritage building, and temporary locations.
Among the verticals, the Banking, Financial Services, and Insurance (BFSI), vertical is expected to hold the largest market share during the forecast period 2016 to 2021.
Banks, insurances, and financial organisations use mobile enterprise apps to improve their employees’ productivity and boost connectivity with clients and customers.
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