Published By : 09 Feb 2016 | Published By : QYRESEARCH
In the past few years, especially since the boom of smartphones in the past decade across the globe, the market for mobile applications, the interactive programs that run on a mobile phone’s operating system, has seen significant rise. Looking at the expansive reach of mobile phones and the power they give to businesses to reach to every single person using them, it shouldn’t come as a surprise that most businesses want to exploit this medium for expanding their consumer base.
Mobile apps for a variety of purposes are seeing consistently rising popularity. In fact, a recent survey shows that the use of mobile web sites has declined and use of native apps on mobiles has increased. It can be said, hence, that the market for mobile apps will expand at a significant pace over the next many years.
The field of mHealth apps, the mobile applications especially designed for the healthcare industry and helping the consumers in making healthier choices in their day to day activities or communicating with caregiver and doctors from faraway places or help physicians in keeping accurate record of patient healthcare data, has seen huge hype in the past few years.
The billion dollar market is also expected to see huge traction in the years to come, but the growth of the market is projected to not be in equal or proportion to the market’s prospects of generating revenues.
Analysts state that the global market for mHealth apps, which has significantly expanded on the fronts of consumer base and product portfolio, many major app developing companies have not been able to make significant revenues from their offerings. As a result, companies have been required to develop many monetization strategies so as to survive with the help of the revenues generated from traditional revenue sources such as advertising and paid downloads alone.
Even in the current scenario, the market is being flooded with new players and innumerous new apps with increased levels of sophistication and reliability. But to survive in the intense competition, where supply is over-compensating for the rise in users and downloads, companies will have to develop some really smart marketing strategies.