Why You Should Invest in Mobile App Development
Your potential customers expect to find everything they need right at their fingertips. They're looking for ways to make their lives easier. That's where a mobile app comes in. It's not just another marketing tool – it's an investment.
According to recent statistics, users are expected to download around 184 billion apps by 2024, while the revenue of the mobile app development industry is expected to reach a whopping $935 billion.
Mobile apps are so popular because business owners like to embed unique features or discount options unable via other platforms. They also allow users to access data quickly and easily. And businesses get a chance to reach customers wherever they happen to be. All that makes mobile apps a powerful marketing tool and a wise investment.
Mobile App Development in 2023
The total number of mobile app downloads has already surpassed 275 billion.
The number of hours users spend on these apps is approaching 3.8 trillion.
That being said, the $73 billion dollars poured by investors into the mobile development industry only seems natural.
These staggering statistics are largely due to the result of the recent COVID-19 pandemic restrictions. By being forced to stay at home, users find escape in various fitness, gaming, business, finance and networking apps.
The demand for new apps and mobile games is growing by 7% per annum. 2023 will be a good year to start leveraging the capacity of mobile for your business to boost user acquisition and brand promotion via mobile apps.
Current Trends in Mobile App Development in 2023
The set of features you need will vary depending on your industry, audience, business goals and budget. Here're the top mobile app development trends for 2023.
Trend 1: Apps for Foldable Devices
Consider building apps for foldable devices. According to Statista, over 50 million foldable units will be shipped worldwide by the end of 2022. In the following years, their popularity is expected to continue to grow.
It’s estimated that foldable devices can double user engagement. The additional space obtained from the increased screen size will help customers get more specific functionalities and features, thus providing a more immersive experience and maximum benefits to users. Industry giants like Samsung and Google are actively highlighting the importance of optimizing Android apps for foldable screens.
So, why lose new customers and the revenues they might bring? Keep the latest large screens in mind when designing your next mobile app in 2023.
Trend 2: Artificial Intelligence and Machine Learning
Incorporate artificial intelligence and machine learning features. According to the report by Gartner, the companies that implemented AI technologies have managed to grow up to 270% in the last few years. In addition, the market value of the AI sphere is projected to grow steadily – it will reach 89 billion US dollars by 2025. Take advantage of the potential and opportunities that AI has to offer.
Consider adding an AI assistant, search by photo, AR-based try-before-you-buy option or profound personalization options to your mobile e-commerce app. Although those features are a magnet for users, remember to use them in a way that will give your users real value.
Trend 3: Augmented Reality and Virtual Reality
Use augmented reality and virtual reality. According to statistics, the popularity of augmented reality may reach 1,73 billion users by 2024. In practice, it means that one-seventh of the global population will be using augmented reality already in the next couple of years.
The augmented reality trend is going to impact the development of several industries. It’s not a question of if, but how fast it will happen.
Trend 4: Chatbots
Use chatbots. More than half of consumers increasingly prefer self-service and are more comfortable chatting with a chatbot. Additionally, the value of the world chatbot market is going to reach $142 billion by 2024, saving 2.5 billion hours and $8 billion in the next two years worldwide.
By integrating a chatbot into your mobile app and improving the user experience, you decrease your financial costs on a project. You also start providing clients with 24/7 support by employing a free assistant that never gets tired.
Trend 5: IoT App Integration
Integrate with IoT devices and wearables. The statistic speaks for itself: by 2025, there will be 30.9 billion units of IoT devices, which is more than double the 13.8 billion units in 2021.
If you are a fitness or healthcare industry provider, this feature is a must-have for your app. But consider it for other nitches too.
Wearable devices and beacon technology have become ubiquitous, and IoT systems are getting into more and more homes. This tendency won’t recede in the foreseeable future.
Trend 6: Development of Wearable Devices
Develop wearable devices. In this decade, wearable devices gained unprecedented popularity as they make our lives more efficient and convenient.
Wearable devices are becoming increasingly popular in the healthcare, sports, banking, gaming and fashion businesses. As the wearable device market grows, they infiltrate other niches and expand in forms. Thus, the companies offer not just smartwatches, eyewear and fitness bands, but also smart buttons, earrings, shoes, earbuds, rings and glasses.
Trend 7: Mobile Wallets
The mobile wallet market is going to reach $400 billion by 2027, while continuing to grow steadily beyond that. Such popularity can be attributed to the numerous benefits of the technology, such as a higher conversion rate, a decrease in lost cards, lower transaction fees and increased revenue.
If your organization provides financial and banking services, consumers may need a mobile wallet app to ease payments and give them critical financing information on time. You can integrate your mobile wallet app with wearables like smartwatches that are popular for paying without having to use a credit card.
Trend 8: On-Demand App Development
Develop on-demand apps. It’s estimated that the amount users spend on on-demand app development services is about $57,6 billion per year. Impacted immensely by the lockdowns, that trend will accelerate even more in 2023. Quite impressive, isn’t it?
It’s virtually impossible to find an aspect of human life that’s not covered with a relevant on-demand app. You use them to order or receive food, travel, play or watch sports, buy clothes, communicate with friends and colleagues, get medical services, work, etc.
Among the numerous benefits of on-demand apps are scalability, efficiency, high user satisfaction and extensive analytics. Put it all together, and you will acquire new customers and increase your revenues.
Trend 9: 5G Technology
Take into account the potential of 5G. Even though this technology standard is already among the current app development trend, its finest hours will be in the forthcoming years.
According to GSMA, 5G will account for 40% of total global connections by 2025, receiving 90% of the investment from mobile network operators.
The 5G penetration in the future will inevitably boost the mobile apps’ functionality, allowing developers to add new features to the apps without negatively impacting their performance and speed.
More Emerging Mobile App Trends
While doing app development in 2023, keep an eye on the following technology trends:
Сloud technology: 100 zettabytes will be cloud-based by 2025, which accounts for 50% of all data in the world.
Instant features: Instant apps allow end users to test a part of the software without installing it.
Blockchain technology: Blockchain solutions help clients reach maximum security, efficiency and speed of operations.
Privacy of user data: the companies that manage to protect the privacy and security of their user data will thrive in the marketplace.
Remember that the mobile app development industry is constantly reinventing itself. Therefore, stay abreast of the latest trends, news and updates that are occurring in order to not miss out on something important.
How To Get Started
How to ensure that your app gets noticed and popular among over 3,5 million apps on the Google Play Store and 2.2 million apps on the Apple App Store?
The answer is simple: follow the latest mobile app development trends.
The bad news is that according to Gartner, 9,999 out of 10,000 mobile apps fail.
What can you do to avoid failure?
You need a reliable provider of mobile app development services with a proven track record of successful projects in the field.
When you hire a mobile app development team, focus on the team's flexibility and scalability as your project may grow into a long-term endeavor. You may also recruit several talented mobile app developers to join your existing team.