Startup Consultants focusing more on mobile app development is not something new. Startup consultants have been advocating mobile app development since the time ‘Internet of Things’ became a sensation. It comes as an aid to the fact that mobile app development technologies have grown at a rapid pace with the onset of Artificial Intelligence and Machine Learning.
With the active usage of these two technologies, the market for app development will boom in the coming years. It has been supported by the rapid growth of network facilities in remote villages as well as the penetration of local service providers. If we talk about the mobile consumer base in India, it is sitting around 463.3 million currently with a projected growth of up to 500 million by 2023.
In that line, the startup consultants have been focusing more on mobile app development in 2021. Apart from that, there are other reasons as well for that projected growth of app development. In this article, we have broken down the related aspects of the growth of mobile app development with a relative focus on why it is a choice for the future.
Cost and Revenue
One of the biggest factors attached with why the startup consultants focus more on mobile app development in 2021 is the attached cost and the projected revenue from this business. As per Industry reports of 2019, the current cost of developing a mobile app ranges anywhere between $5000 to $50000. Any mobile application with some distinctive features costs around $22000 while for complex algorithms, the costs might go up to $110000.
If we look at the report prepared by AppAnnie on mobile market for 2022, it shows that the mobile app downloads will reach up to 258 billion, a 45% growth from 2017 while annual spend on app stores will cross $157 billion which is a 92% growth from 2017.
Given all the growth attached with mobile app development, a startup in mobile app development would have significant chances to earn at a great pace and grow rapidly. It would turn out to be a great investment provided the chords are set straight.
Growth of Internet of Things and Cloud
One of the major factors of the growth of mobile app development in 2021 has been the development of the Internet of Things and cloud hosting services. The IoT and cloud have transformed mobile app development like never before. The IoT has been projected to reach up to $1.1 trillion by 2023, a significant jump since the time of it starting. Similarly, the coming market would grow in the sector of smart wearables and VR which could rule the world. For all these developments, the mobile would play a key vitalizing role. In the future, these mobile apps would need to be smarter and advanced. They would have enabled speech features so as to communicate IoT with the users. The apps would also have to have cloud support so as to minimize mobile storage usage.
Therefore, mobile app development would have a huge role in this projection of the Internet of Things. Keeping all the development of the Internet of Things and its related projection, the startups dealing in mobile app development would benefit the most.
Growth of Artificial Intelligence and Machine Learning
In the coming times, mobile apps would largely benefit from the growth of Artificial intelligence and machine learning features. People have been using mobile apps for various services such as entertainment, information, and video services. In the coming times, all the mobile apps will be developed with predictive analytics and machine learning algorithms which will allow the app developers to provide a much more personalized experience in the applications to benefit the users.
The mobile apps will be able to analyze the user behavior and alert them of any threats of breach of information. This would not only help the user get a secured atmosphere but also a commendable trust on the application. Not only this, the mobile applications would be able to gauge the functionality of the user and act as per their needs and demands and not specifically in what the app was initially built. All these reasons are valid as to why the startup consultants have focused more on mobile app development in 2021.
Given that the mobile apps would be able to perform so much, the field for mobile app developers looks bright in the coming times as they would not only have the opportunity to provide AI enabled services to users through mobile apps but also get huge profits as the market expands. It will open up new opportunities for startups in the smart wearables and smartphone section and they can grab those opportunities with both hands. Want help in choosing the right technology for your mobile app development? Or perhaps you need help in building a mobile application? Connect with us here.