Prices Starting at 15000 **
Enterprise mobility is a hot button topic for businesses going into 2020. The truth of the matter is, having a mobile presence has become imperative to survival. As mobility continues to redefine how industries operate, traditional enterprises need to be conscious of the fact that they are no longer just in competition with each other, but with mobile-first companies that have captured the attention of an increasingly mobile society.
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Statistics on App Development :
- By 2021, there will be roughly 7 billion mobile users worldwide. (Source)
- By 2022 annual mobile app downloads are projected to reach 258 billion. That’s a 45 percent increase from 178 billion downloads in 2017. (Source)
- By 2022 app store consumer spending is projected to increase by 92 percent to $157 billion worldwide. (Source)
- In 2019, the average US adult spent three hours and 43 minutes a day on a mobile device. (Source)
- Mobile app users in the United States have over 100 apps installed on their smartphones. (Source)
- The average mobile user checks their smartphone 63 times a day. (Source)
- 87 percent of users will check their phones at least one hour before sleep, and 69 percent of those users will check their phones within 5 minutes before sleep. (Source)
- 79 percent of users abandon a product after only one day of use. (Source)
- Generation Z (ages 16-24) spends 20 percent more time and engages with their most-used apps 30 percent more often than the rest of the population. (Source)
- Mobile apps account for 57 percent of all digital media usage. (Source)
When it comes to mobile, users have exceptionally high standards for functionality and performance. It’s mandatory to adapt digital content to translate seamlessly across varying screen sizes and multiple devices.
Native apps are fast, responsive, and deliver a generally well-received user experience. These applications have access to inbuilt hardware, as well as support for every interface interaction offered by the respective operating system.
Nevertheless, enterprises can’t neglect mobile web content. Mobile web applications are ideally suited for content consumption and can be designed to imitate native apps. However, web app usability relies heavily on web browser performance. It’s crucial for your mobile web design to adjust content and determine device resolution to properly accommodate the presentation and delivery of digital media.
Any mobile enterprise app needs to be thoroughly tested. Performance factors like load times, product crashes, and complicated registration fields all add up to poor user experience and can ruin your chances of market success.
- App crashes cause 71 percent of uninstalls. (Source)
- 67 percent of bugs are reported on iOS devices. (Source)
- 44 percent of in-app defects are found by the user. (Source)
- 47 percent of apps need more time for testing. (Source)
- 58 percent of users are frustrated by interface inconsistencies. (Source)
- 52 percent of users are frustrated by overall app performance. (Source)
- 29 percent of users will immediately abandon an app if they don’t find it valuable. (Source)
- 70 percent of users abandon an app because it takes too long to load. (Source)
- 43 percent of users are unhappy if they have to wait longer than three seconds for your app to load. (Source)
- 65 percent of users say a poor mobile experience negatively impacts their opinion of the brand. (Source)
If you haven’t properly tested your product, it’s simply not market-ready. A documented testing process is a critical element of any mobile strategy.
Achieving momentum in the mobile app market is difficult for even the most established enterprises. Drafting a thorough mobile marketing plan is the cornerstone for continuous growth and success for an already existing or new product. The marketing component of your overall development process is ongoing and requires constant maintenance.
- Over 51% of smartphone users have discovered a new company or product while conducting a search on their smartphone. (Source)
- 78% of location-based mobile searches result in an offline purchase. (Source)
- Only 54 percent of marketers say they currently use a mobile app platform to market to their prospects and customers. (Source)
- The cost to acquire a user has decreased by 29.9 percent year over year to $2.89. (Source)
- The cost to acquire a user who completes a registration form was $4.58 in 2018, which is a decrease of 44.2 percent. (Source)
- Leveraging a multi-channel engagement strategy proves to be a powerful retention method with retention rates being 62 percent higher than apps that only engage users with one channel. (Source)
- The most popular form of app store optimization (ASO) came in the form of description updates at 46 percent. (Source)
- App icon updates were the second most frequent form of ASO at 30 percent, up 24 percent year over year. (Source)
- Mobile accounted for more than two-thirds of digital ad spending, at 87.06 billion in the US this year. (Source)
- Global consumer spend across each app store grew 20% year over year in Q2 2019; however, iOS apps outside of games accounted for nearly 35% of consumer spend compared to 15% on Google Play. (Source)
The mobile app market continues to evolve at a rapid pace. Connected customer experiences are seen as a requirement from businesses and services alike. As a response, organizations need to expand beyond their established tactics, toolkits and channels to reach and acquire their audiences and meet the expectations of mobile app customers.
Trends by Vertical
Looking at a breakdown of each mobile app vertical provides wildly different insights into how users interact with mobile apps. With each vertical and category, retention rates, session duration, and in-app activity vary.
Banking and Fin Tech
- Banking and Fin Tech app downloads have seen a 75 percent increase, reaching 3.4 billion downloads. (Source)
- The average session duration for banking and FinTech apps is 3.1 minutes. (Source)
Food, Restaurants and QSRs
- Consumers ordered food and drinks through apps 130 percent more often in 2018 than in 2016 (Source)
- In Canada and the United States, food delivery apps witnessed an increase in usage by 255 percent and 175 percent, respectively. (Source)
- The top 5 car-sharing apps grew 25 percent year over year. (Source)
- In contrast, bike and scooter sharing apps made their debut with force this past year witnessing a growth of 530 percent in user base. (Source)
- The average session duration for travel apps is 2.8 minutes. (Source)
- November 2018 was the biggest mobile shopping month of all time by total time spent. (Source)
- The average session duration for shopping and retail apps is 4.6 to 5 minutes. (Source)
- In the United States, mobile shopping grew by 70 percent in the past two years. (Source)
Keep in mind, every app vertical has its unique set of benchmarks and best practices to follow. What’s realistic is based on a case-to-case basis depending on the purpose of your app and your overall business goals.
Predictions for 2020 and Beyond
- Global mobile app revenue is projected to generate $582 billion U.S. dollars through paid downloads and in-app advertising in 2020. (Source)
- Nearly 100 million smartphone users will be using voice assistants in 2020. (Source)
- The number of users viewing video content on a mobile device in the United States is projected to reach 179 million in 2020. (Source)
- By 2021 in-app advertising spend is predicted to triple and reach $201 billion U.S. dollars. (Source)
- By 2021 mobile users are predicted to spend roughly 47 minutes daily on social network apps. (Source)
- In 2020 global mobile gaming is expected to represent 57 percent of the market share and currently accounts for 51 percent of the global revenue in the gaming industry. (Source)
- The global mobile gaming market is expected to reach $165.9 billion in 2020. (Source)
- 34 Percent of marketers expect to have a voice app by 2020. (Source)
- 83% of enterprise workloads will be in the cloud by 2020. (Source)
- The global mobile workforce is expected to reach 1.87 billion workers (over 42 percent of the global workforce) by 2022. (Source)
Heading into 2020, it’s clear that the mobile market shows no signs of slowing down. At this point in the game, with the majority of influential enterprises already having a mobile product on the market focus should shift to improving a current product to deliver more value to customers. With many organizations failing to consider key trends and patterns into strategic growth plans, leveraging the insights from the statistics listed above, can shed light on trends that can manifest into opportunities. Acting on this new found opportunities has the potential to lead to greater success, reaching business goals, cutting costs and getting a leg up on the competition. Remember, to deliver value, businesses need to meet customer expectations.
1- App cost depends on many factors like database required, Complexity , interface used and various other features.
2- App costs may go up to 25,00,000 if its very complex app.