The tech world has been evolving rapidly since over a decade now. People want information and services at their fingertips, and mobile app technology is constantly catering to their demands. Mobile app development has witnessed just over 28 billion downloads, which is a year-over-year increase of 11.5 percent in 2019.
Reference Source: https://demo.sensortower.com/sensor-tower-q2-2019-data-digest?src=blo
As per Statista, mobile app revenue is predicted to grow from 69.7 US Billion Dollars in 2015 to 188.9 Billion US Dollars in 2020.
Reference Source: https://www.statista.com/statistics/269025/worldwide-mobile-app-revenue-forecast/
Trends in 2018 till mid-2019
Experts in this field believe that mobile app industry will rapidly grow because the end user is always demanding more “convenient services”. Let’s take a look at the top mobile app trends that have rocked the market in 2018-2019.
In this competitive market for apps, how do you attract a user’s attention to your app? What does it take to make the user download your application from the plethora of apps that are on the app store? – the answer is through a powerful App Preview. Your next question might be, ‘how do you attract the customer in 30 seconds?’ Well, let’s find out!
The creation of an app preview can be the most daunting stage post the app creation process. Let’s take a look at the few points to keep in mind while creating an app preview:
What is an App Preview?
There has been an upsurge in mobile technologies – not only in a person’s personal life, but also in business. In today’s time, being a part of the digital world is one of the top priorities for companies. One of the major steps to upgrading to mobile is the development of an enterprise mobile application.
What Does an Enterprise Application Development Mean?
Enterprise mobile applications make the process within the company easier, and at the same time create a comfortable climate to create interaction and involve the employees. It helps the business to operate more efficiently by providing turn-key solutions for several critical tasks:
The market is constantly churning out new mobile applications each day. With the ever-increasing demand of mobile applications, companies are trying to build mobile apps that are engaging, effective and that can transform their business. They want their next app to take the market by storm! However, there are times when the app curated in the mind cannot be developed by an in-house team – they require experts! Hence, many companies outsource their mobile app development rather than dumping it on their internal team. This not only saves time and money, but also ensures that the app is bought to life by experts, rather than a team that would work on a trial and error basis.
Outsourcing mobile apps most times is a good idea except in certain scenarios. Let’s take a look at 5 mistakes companies make while outsourcing mobile app development.
Mistake 1: Background Search of the Outsource Company
In a hurry to develop the app and outsource it, sometimes the company does not conduct a thorough background search. While researching the outsource company, one must gather the following data:
In this era of digitization, almost everything in the world today can be delivered at your door step, including services. So, what are these services that you can book through an app and how are they convenient? For instance, you no longer need to leave your house or keeping waving to cabs in the middle of the road, now with the help of an app, you can just call a cab at the foot of your doorstep or if you wish to take a beauty day, you no longer need to visit a salon, the salon can come visit you
In today’s time, there is an app for everything – fitness, food delivery, online shopping, dating, games, photography, health, etc. Smart phones have substantially grown over the years. In 2018, mobile traffic accounted for 52.2% of total website traffic in the U.S.
Reference Source: https://www.statista.com/statistics/241462/global-mobile-phone-website-traffic-share/
Due to these ever growing number of app users, there are many developers trying to create a market space for their app creations. The app market is booming with hundreds, if not thousands of them being added in the Android or iOS play store every day. Why do you think that is? Yes, that’s right! The app industry is making millions and billions of dollars and everyone wants a fair share of the profits. The number of mobile app downloads worldwide in 2022 is estimated to be 258.2 billion.
Reference Source: https://www.statista.com/topics/983/mobile-app-monetization/
So, How Much Does an App Earn?
In contemporary society, it is safe to say people use their mobile phones “all the time”. Smartphone usage in the past decade has seen an exponential boom. Everything is now available on a user’s finger tips and that is mainly thanks to the wave of digitization sweeping the world.
Practically 25.5 million people, 70% of the population, in Canada is currently using a Smartphone and this number is said to increase to 32.5 million by the year 2020.
Around 1995, when websites were just gaining popularity, it was a common question to ask if your company needed a website or not. Now it seems silly to even question if a brand needs web presence. 20 years ago a brand did not need the internet like they do today. It is a norm now and back then they were only ideas. And this is where we stand today with mobile apps.
Growing Popularity of Apps
Smartphone users spend about 90% of their time on various apps, making payments, shopping, socializing, making bookings and even surfing for the latest updates. Mobile friendly websites are helpful, but they do not offer the same user experience. Also limitations from the mobile browser could even lead to a negative brand impression.
Imagine having to take time out during a busy day, to go stand in line to buy tickets to an event. Now imagine that after standing in line for nearly an hour just when it is your turn the tickets are sold out. All that time and energy wasted plus the added disappointment of a failed attempt to book tickets.
Advent of the digital age has seen a revolutionary change in the trend of making bookings. Now, there is no need for people to stand in line and wait for their turn to book any kind of tickets or services. The advancement of technology has made it possible to book, cancel and reschedule things with just a few simple clicks of the button.
Revenue generated from event tickets alone will see an increase of 9.3%, which amounts to north of $100,000 million by 2023. The reason for this tremendous increase is the simplicity of the task right from finding the desired event to making the booking and payment.
The demand for ticket distribution systems will keep rising as the number of users keeps increasing as well. Given below are a few platforms which help event promoters optimize and sell tickets globally:
Our economy today is made up of more multinational companies than ever before. However, due to the unsettled economic times facing us, one of the fundamental problems for a company has been how to sustain itself and grow. Most companies struggle with this i.e. how to ensure low production costs and high quality products and profits.
Have you been mulling about outsourcing your company operations to other business providers? Usually this is very beneficial as it reduces the long term investment in infrastructure, thus reducing costs. However, it is very important to ensure strategic relationships are set up keeping in mind the state of affairs of both parent and partner companies. According to Forbes, there are approximately 300,000 jobs outsourced by the United States each year.
There are various product ideas that can be developed to create a mobile app. After going through a plethora of ideas, the next step is to choose a mobile product idea that can define the vision of the next promising mobile app that you wish to launch in the market.
The first step towards creating a successful mobile app is to create a Product Requirements Document (PRD). This document contains a detailed project management plan stating the logic behind creating the app, the technical requirements and the responsibilities of stakeholders at each stage.
This is essential to avoid scope creep – that is the tendency for projects to go above and beyond its set limitations in terms of functionality, project duration, etc. In the initial stages of planning a PRD everything might seem like a haze but it will definitely help you think about all the aspects about the product.
Let’s take a look at a few requirements that will help you manage scope creep from taking over your project: