The significance of technological innovation can't be ignored. With constant evolution in the field of mobile technology, there has been increased demand for mobile app development. Statistics show that over 30 billion apps were installed from the Google Play Store by 2022 and the statistics are expected to rise in the future too.

As the digital world progresses, more people have access to mobile app development. Lower entry barriers have ushered in an urgent trend, particularly in terms of enterprise growth and competitive advantage. For good reason, businesses are racing to create their applications. Designing brand-specific mobile applications may benefit small businesses and startups far more than imagined.

Today, mobile apps are evident across different industries including retail, finance, healthcare, e-commerce, etc. For start-ups, investment in mobile app development has become far more significant than ever. It is no longer an alternative but a basic need to stay up to date and beat the competition while meeting customer needs.

  1. Competitive Advantage

Mobile applications are innovative and progressive. They provide a variety of alternatives that may improve the user's capacity to communicate with the organization. For example, an application for an auto mechanic or health insurance company may allow users to consult and control all the services to which they have access. One of the most important benefits of mobile applications for your business is that they will help you stand out from the competition. Apps are incredibly important in today's digital world, and employing them for business is becoming more frequent.

  1. Improved Engagement

Keeping or retaining a current client is far more essential for start-ups. With mobile apps, the process of retaining and grabbing the attention of the targeted user base becomes much simpler than acquiring a new one. The more we communicate with a client who has already purchased from us, the more likely that customer will purchase from us again. Push notifications, for example, are used in mobile apps that allow you to send notifications to a user's device whenever something crucial comes up and can be send at any time. They outperform advertising emails by far.

  1. Improved Marketing Efforts

Without a doubt, one of the most important achievements of mobile applications is their simplicity, accessibility, and capacity to be used by anybody, anywhere, at any time. This implies that if you offer items or services using an app, you are instantly increasing the accessibility of your business, which will improve sales. Creating a company mobile app enables you to access new audiences. The following are some of the advantages of mobile apps over websites: Because it is always on everyone's phone, the mobile application will bring more marketing to your brand, enhancing the business's brand visibility.

  1. Better Communication

One of the reasons why a startup requires a mobile app is to ensure and facilitate a direct link of connection with consumers and customers. Mobile applications have enabled simple and direct engagement between customers and businesses by offering fast access to a wealth of information.

  1. Customer Acquisition

Millions of individuals utilize mobile applications in their everyday lives. Its usefulness rises year after year because of its simplicity of usage at any time. A mobile app may also be a powerful marketing tool. It enables access to Facebook, Twitter, and other social media networks. Customers may share your app and their experience with your company with their network with a single tap, allowing your firm to give you free marketing. This method has enhanced customer engagement, repeat sales, retention, and monetization.

  1. Reduced Operational Costs

One of the most crucial components of running a small business is operational efficiency. Because mobile applications are such an excellent form of communication, they may considerably assist a company's development. The benefits of a mobile app for a small business extend beyond client retention.

Mobile App Landscape – Statistics and current trends

India is the world's third-largest smartphone market in terms of active users, and it has seen significant development in mobile apps as smartphone usage and affordability have increased. Annual revenue has quadrupled in the last four years since 2018, and estimates indicate continued robust growth for the foreseeable future.

Apple and Google are both dedicated to providing more relevant app store experiences by enabling varied text and creatives based on user categories. AI will assist publishers in crunching more data to improve customization quality, resulting in better recommendations to assist you in connecting with your target audience.

Foldable gadgets currently have a modest market share. That appears to be changing. According to estimates, manufacturers will shift 100 million foldable gadgets by 2025, resulting in accelerated growth.

According to some analysts, the industry will develop at a compound annual growth rate (CAGR) of approximately 25% during the next decade.

The advent of applications that allow users to earn money will be a fascinating trend. People who wish to sell products and services can use eCommerce platforms to interact with one another. Similarly, ridesharing and food delivery applications have long assisted individuals in making a livelihood.

Despite economic worries, mobile app marketing might provide a higher ROI.

The costs of mobile app marketing and user acquisition have soared in recent years. Social media and associated platforms for digital marketing have grown somewhat pricey.

Global consumer expenditure on apps increased by about 20%. Because of the increasing demand, publishers boosted their user acquisition budget by 40%. Long-term retention and engagement are critical components of long-term app growth.

The Growing Use of mobile apps and opportunities for startups

Mobile applications have become one of the most popular means of making money. You may generate millions and billions of dollars in income and profits simply by releasing a mobile application. For a variety of reasons, consumers seek for creative and feature-rich applications. As a result, the commercial potential for developing more user-centric apps has expanded. Startups, small companies, SMEs, and corporations are spending heavily on mobile app development to create customer-focused apps.

App Development Statistics for Startups

  • Businesses are responding to their customers' wants delicately with the aid of mobile applications. Here are some eye-opening data to assist you in comprehending the startup prospects.
  • By 2025, mobile app revenue is predicted to reach $613 billion, with 7.49 billion mobile users globally.
  • Mobile gaming and video applications have been on the increase since 2020
  • Virtual classroom applications are the new normal in the Covid-19 age
  • Google Play store has about 2.87 million apps while Apple App Store has around 1.96 million apps.
  • On average, smartphone owners use 10 apps per day and 30 apps per month.

A mobile app for an eCommerce start-up is advantageous since it enables the company to collect critical information from online clients, analyze data, and understand customer preferences and buying behavior. It enables the firm to provide user-specific information about products and services available, the latest trends and updates, special offers, discount coupons, and a variety of other value-added offers.

Among their numerous advantages, mobile applications help startups build a better brand.

  • Improve your communication with consumers.
  • Customers should be given something of value.
  • Enhance customer engagement.
  • Customize a marketing channel.
  • Enhance your interactions with customers.
  • Profit from a specialty.
  • Make use of social media outlets.

Mobile Apps on iOS, and Android platforms and their market shares

While many devices have pre-installed apps, users can choose apps from app stores such as the Apple App Store for iOS and Google Play Store for Android. Among these two, Google Play gets the most global app downloads.

Currently, there are 8.93 million applications worldwide. To be more specific Google Play boasts a collection of 3.55 million apps while the Apple App Store offers around 1.64 million options. If you are curious, about the download rate for these applications the figures from the year indicate that there were approximately 250 million app downloads, per day. Moreover, this number is expected to continue its trajectory as companies keep introducing apps catering to various needs and purposes.

Google Play and Apple Play Store Total Apps Revenue

In 2021-22, there was a 58 % increase in app usage for consumer spending compared to the previous year.  For Apple Play Store, the iOS platform showed impressive growth in 2022 registering revenues of $36.3 billion, up by 10.2% over 2021.  Surprisingly, the iOS platform accounted for 75% of the total consumer spending on Apps in 2022.

Today, businesses can custom built a mobile app to enjoy the benefits of this new technology. Custom mobile app helps start ups to stay relevant while improving client relationships and building loyalty