Mobile App Business Plan Template

Industry Analysis

As smartphone adoption and mobile internet connectivity continue to rise, the Mobile Application industry is expected to grow significantly to $39 billion in the next five years.

Increasing smartphone penetration, enabled by the convenience and entertainment that apps offer, will encourage people to use smartphone apps and increase demand for industry services from businesses during the period. Smartphone usage has grown in popularity and apps have become more ingrained with the daily life of Americans.

Some key trends in the space include:

  • Wearable App Integration- Wearable technology is progressively growing all around the globe. The number of connected wearable devices is expected to reach 929 million. With technology advancement, we can expect wearable applications to soon become an important part of our everyday lives.
  • Chatbots- With 80% of enterprises expected to use chatbots by year end, and users appreciating quick and precise answers, it is a real business opportunity to integrate a chatbot to your mobile app.
  • AR and VR technologies- AR and VR technology are increasing high-quality gaming applications and innovating tons of new use cases.

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