Intelligent Apps Market Size, Share & Trends Analysis Report By Type, By Providers, By Services, By Store Type, By Deployment Mode, By Vertical, By Region, And Segment Forecasts, 2024 - 2030

Intelligent Apps Market Size, Share & Trends Analysis Report By Type, By Providers, By Services, By Store Type, By Deployment Mode, By Vertical, By Region, And Segment Forecasts, 2024 - 2030

Intelligent Apps Market Growth & Trends

The global intelligent apps market size is expected to reach USD 172.21 billion by 2030, growing at a CAGR of 30.6% over the forecast period, according to a new report by Grand View Research, Inc. The increasing adoption of advanced technologies such as artificial intelligence (AI) and Machine Learning (ML) plays a significant role in propelling the market's expansion. Intelligent apps leverage these technologies to generate analytical insights from the data produced by various apps. These apps assist consumers by offering a tailored shopping experience and aid businesses in anticipating future consumer demands, thereby enhancing sales.

The increasing need for enterprise applications is poised to open numerous opportunities for the expansion of the intelligent apps industry. Various sectors, such as retail and e-commerce, banking, financial services, insurance (BFSI), and healthcare, are experiencing advancements in providing continual customer service and employing intelligent apps for streamlining business processes. Intelligent apps utilize and store historical data references. Moreover, these apps generate valuable and pertinent information. They keep accurate records of all recent activities and provide outputs based on data analytics of those records.

Intelligent apps demonstrate a strong propensity for knowledge enhancement and exhibit a high degree of adaptability. The machine learning component within these apps enables them to evolve their behavior based on work requirements and environmental context. They are adept at functioning with the intended purpose of their application in mind. For instance, Oracle Corporation developed an AI-powered application aimed at improving invoice processing. Currently, 65% of companies employ rule-based software, while 35% still rely on various manual methods, leading to issues such as missing purchase orders with invoices. The adoption of these intelligent applications ensures verified purchase orders.

Intelligent Apps Market Report Highlights

• North America dominated the market in 2023 with the largest share of global revenue. Companies across the region are at the forefront of adopting AI and machine learning solutions. This is due to several factors, including the large pool of tech talent in the region, the presence of major AI companies like Google LLC, Microsoft Corporation, and International Business Machines Corporation, and the growing demand for automation and efficiency.
• The consumer apps segment led the market in 2023. AI can make apps more accessible for consumers. Features such as voice recognition and chatbots help users with disabilities interact with apps more easily. Intelligent apps can also be a source of entertainment, with features such as AI-powered games, personalized music recommendations, and various tools that use AI to generate art or music.
• The machine intelligence segment held the largest share of the global revenue in 2023. ML algorithms excel at identifying patterns and user behavior. Intelligent apps leverage this to personalize the user experience. ML allows intelligent apps to analyze data and predict user needs. For instance, a navigation app can predict traffic congestion and suggest alternate routes or an e-commerce app might recommend products a user might be interested in based on their browsing history. This proactive approach enhances user experience and satisfaction.
• The professional services segment held the largest share of the global revenue in 2023. Intelligent apps analyze vast amounts of data (financial records, legal documents, market trends) that professional service firms typically collect. This allows professionals to glean valuable insights and identify patterns that might not be readily apparent. With this data-driven approach, professionals can make informed decisions, develop more effective strategies, and deliver superior results for their clients.
• The Google Play segment led the market in 2023. Intelligent apps integrate seamlessly with Google services such as Google Maps, Google Assistant, or Google Drive. This integration enhances functionality and user experience, making these apps more attractive to users within the Google Play Store.
• The cloud segment led the market in 2023. The widespread adoption of cloud computing provides the foundation for intelligent apps. Cloud platforms offer scalability, flexibility, and on-demand resources, making them ideal for deploying and managing intelligent apps.
• The retail & e-commerce segment held the largest share of the global revenue in 2023. Intelligent apps analyze customer data to understand preferences and purchase history. This allows retailers to recommend relevant products, offer targeted promotions, and personalize marketing campaigns.

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