A mobile application is a software application developed specifically for use with a mobile device such as a smartphone or tablet. These mobile applications enable mobile devices to perform a number of tasks and functions on a small mobile device. There are various types of mobile applications available for mobile devices such as social media, payment applications and gaming apps. Some of the them are available free of cost on the play store, while some need to be purchased by the user.
Market Dynamics:
The adoption of mobile applications is increasing due to the rising number of mobile phone users and the increasing customer base of the e-commerce industry. For instance, according to United Nations Industrial Development Organization, the e-commerce sector in India reached US$ 100 billion by 2020 and is predicted to reach US$ 300 billion by 2030, thus changing the way Ministry of Micro, Small & Medium Enterprises operate in India.
In addition, the increasing applications of augmented reality and virtual reality are projected to boost the adoption of mobile applications over the forecast period. Smartphones are enabled with various sensors, such as gyroscope and motion sensor, which is further expanding the capability of Augmented reality (AR) and Virtual reality (VR) games including Pokemon Go, owing to which mobile game applications are increasingly getting downloaded.
Key features of the study:
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