Mobile applications are different types of software designed to run on smartphones, tablets, and computers. The mobile application market is expanding rapidly, and this trend is expected to accelerate in the future with the introduction of various applications in different segments. In terms of mobile application installations, India has the second-largest market globally.

Market insights:

In 2021, the most-downloaded app categories were games, social media, health and hygiene, and entertainment. The total number of mobile applications downloaded in India was 24.27 billion in 2020. It is expected to reach 92.55 billion by 2026, expanding at a CAGR of ~24.81% during the 20212026 period. Some of the popular apps are YouTube, WhatsApp Messenger, and Facebook.

Impact of COVID-19:

In April 2020, India's spending on entertainment apps increased by more than 22%, resulting in a 47% increase in OTT subscriptions and a 26% rise in revenue for OTT platform. In June 2020, the government blocked 59 mobile apps, most of which were either of Chinese origin, or were marketed or distributed by entities based in that country.

Market Influencers:

Market drivers:

Mobile wallets are considered to be one of the most popular payment options due to their numerous benefits. At present, one of the most popular trends is the development of apps that support wearable technology. Many businesses have opted for the development of a mobile enterprise app for their companies.

Key deterrents to the growth of the market:

Organizations are investing considerable amounts of money to develop applications because the apps that are available are not completely reliable and are expensive. Smartphones are the main targets for cyber crimes, virus attacks, and other similar illegal practices.