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  • Mar 14 2024

Mobile App Development and Its Benefits for Business

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Mobile App Development and Its Benefits for Business

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Mobile application development and mobile apps, along with the continued development of smartphones, are becoming increasingly important as virtual tools for meeting human needs and goals. This reflects the rapid evolution of the mobile app development industry in recent years, as well as the potential for mobile app development in the future.

According to Evans Data Corporation, there were 26.9 million software developers worldwide in 2019, and the quantity is expected to grow, with a forecast growth to 27.7 million in 2023 and 28.7 million in 2024.

In fact, the number of apps available in leading app stores as of Q4 of 2019 has illustrated significant records. There are 1,84 million apps for Apple users to download, making the Apple Store the second largest available mobile app. Google Play provides the highest number of mobile apps for Android users, with 2,57 million apps. For each different app, the developers can earn revenue in different ways. According to the Apple Store, each application generates an average of 0.86 US dollars per download.
With all the stunning figures, mobile app development has become one of the priorities to obtain long-term success for businesses.

The potential for mobile app development?

As mentioned above, the increase of hand-held appliances and devices, such as mobile and tablets, as well as the positive customer behavior change of using smartphones and downloading applications, make mobile app development a key factor in connecting developers with a large number of potential users.

 

Number of smartphones worldwide, 2016 - 2021

The potential of Mobile App Development by statistics (Statista, 2019).

As of 2021, more than 3.8 billion people have a smartphone. In addition, there were 194 billion mobile apps downloaded in the same period (Leftronic, 2022). The current record shows that the total revenue from mobile app downloads is around $461 billion. Thus, it is projected to reach more than $581 billion in revenue in 2020 (Statista, 2020). Indeed, the greater the growth of smartphone and tablet sales, the greater the growth of mobile app download revenue. All the stats above indicate that mobile apps and the internet can flatten the world together better.

In essence, a mobile app is a tool to connect your brand with millions of potential customers. All it takes for you is to make your app meet your customers’ needs and strategize to have smart marketing campaigns as well. ITC Group, a trusted technology partner in Vietnam, is providing the mobile app development service. If you have any demands, make sure to contact us!

Why is mobile app development so attractive?

mobile app development

There is no doubt that mobile apps have played a role in the economy. However, the benefits that creating and distributing a mobile app can bring to businesses across a wide variety of industries have always been in question. So let’s see some of the top value that mobile apps bring to enterprises:

  • Loyalty

mobile app development to reduce bounce rate by industry

Bounce rate by industries (neilpatel.com)

Based on the study of customer behavior, an app that generates an excellent user experience can convert prospects into loyal customers. In other words, the customers are not willing to spend more than 15 seconds learning and guessing your apps. In fact, there is a 15-second rule to decide whether your prospect wants to stay on the website or leave as soon as possible. This rule can be applied to the mobile app as a rule to build better UX.

Nevertheless, the challenge for businesses is that not every app performs with the same quality of UX for customers. This can have a detrimental impact on the customer’s first impression. Therefore, the developers should have careful preparation for UX analytics and development to build better loyalty. Sales and eCommerce are industries that receive many benefits by making buyers come to the final purchase decision as fast as possible. That is why the US had more than $156 billion in mobile eCommerce sales and the conversion rate is three times higher than the mobile site.

  • Consolidate the brand

In a rushing and busy life, fast-approaching the brand can be simplified by the mobile app. It can be free and always available for users to download. Through the downloading, the users are encouraged to interact and make a decision directly with the brand but faster with a handheld device. In other words, your brand is accessible anywhere and anytime without the full screen of desktop requirements.

  • Increase the ability to approach

number of mobile app downloads worldwide, 2016 to 2023 and the potential of mobile app development

Number of mobile app downloads worldwide from 2016 to 2023 (Statista, 2024)

According to Statista, there were approximately 257 billion mobile app downloads worldwide in 2023. This means the opportunity to download your apps has increased. The Internet is almost always available and users are willing to download and try new apps. If the app is well-marketed, strategized, and developed, more reachable customers can become your potential customers.

  • Generate Revenue

estimated mobile ecommerce sales worlwide

Estimated mobile e-commerce sales worldwide (Statista, 2022)

As mentioned above, eCommerce was one of the major factors in delivering considerable revenue via mobile apps in 2020. In the global market, $2.32 trillion in revenue in 2020 was recorded, excluding special sale events such as Black Friday, and $2.91 trillion in 2020, including 70% of mobile as shares of total e-commerce.

It should not come as a surprise that the developers would like to focus their attention not only on crafting mobile applications but also on creating a society that is centered around mobile devices. Understanding this, ITC Group has always been ready to learn new things and keep our solutions and experiences fresh so we can meet the changing needs of our customers. We offer many services as a trustworthy technology partner, and one of these is software development that can meet all of your needs with great quality!