USD 23.43 billion
Report ID:
SQMIG45E2074 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
196
|Figures:
80
Intelligent App Market size was valued at USD 23.43 billion in 2019 and is poised to grow from USD 30.91 billion in 2023 to USD 283.12 billion by 2031, growing at a CAGR of 31.9% in the forecast period (2024-2031).
Intelligent apps provide individualized and adaptive user experiences by using historical and current data from user interactions and other sources to make predictions and suggestions. These applications can help in various activities with the help of Artificial Intellience (A.I.) and Machine Learning (M.L.) very effectively, and are widely used by individuals and business enterprises. Chatbots, virtual assistants and recommendation engines on e-commerce sites are just some examples of intelligent applications.
Increasing smartphones user-base coupled with increasing consumer expectations for rich contextual and personalized experience increasing the demand for greater business mobility, thus, resulting in driving the market growth. The increasing popularity of these applications for improving response time and help in real-time decision-making also boosts the market growth. Additionally, rapid urbanization, changes in business environments, rise in investment and adoption of business intelligence solutions for managing IT environments positively affects the intelligent app market.
Due to the high cost related with the AI-based solutions, it is anticipated to hamper the market growth. Rising concerns of security of customer data may challenge the market growth.
US Intelligent App Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 23.43 billion
Largest Segment
Cloud
Fastest Growth
Cloud
Growth Rate
31.9% CAGR
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Global Intelligent App Market is segmented based on the store type, deployment mode, industry vertical, type, providers, operating system, service, and region. Based on store type, the Intelligent App Market is segmented into Google Play, Apple App Store, and others. Based on deployment mode, the Intelligent App Market is Cloud, On-Premises. On the basis of industry vertical, the Intelligent App Market is bifurcated into Telecom, BFSI, Healthcare & Life Sciences, Retail & E-Commerce, and others. By type, the Intelligent App Market is segmented into Consumer Apps, Enterprise Apps. By providers, the Intelligent App Market is segmented into Infrastructure, Data Collection and Preparation, Machine Intelligence). By Operating System, Intelligent App Market is segmented into iOS, Android. By Services, Intelligent App Market is segmented into Professional Services, Managed Services. Based on region, Intelligent App Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Intelligent App Market Analysis by Store Type
Based on store type, intelligent app market is segmented into Google Play, Apple App Store, and others. The Apple App Store is anticipated to hold the largest market size during the forecast period. The store has its own significant value due to the wide presence of premium customer base on iPhones, iPads, and iPod touch devices.
Google Play is anticipated as the fastest growing segment due to the increased penetration of android smartphones across the globe.
Intelligent App Market Analysis by Deployment Mode
Based on deployment mode, the intelligent app market is Cloud, On-Premises. The Cloud segment is anticipated as the fastest growing segment and also it is predicted to hold the largest market share due to the large preference of cloud-based intelligent apps solutions as they are budget friendly, helps in minimizing cost associated with the infrastructure maintenance.
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North America held the largest global intelligent app market share thanks to the growing popularity for these apps by various industries for analysing of data. Smooth internet connectivity for operating intelligent apps, and increasing adoption by major companies in the region are boosting the market growth.
Asia-Pacific will possibly experience the fastest growth rate during 2022 to 2028, owing to the rising applications of advanced technologies, increasing industrialization activities, rising smartphone adoption and uses in the developing countries like India, China, and others.
The Europe market is anticipated to grow significantly grow due to several reasons including presence of key market players and increasing demand from various end user industries in different sectors.
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Intelligent App Market Driver
Intelligent App Market Restraint
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Global intelligent app market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Intelligent App Market Top Player's Company Profiles
IBM Corporation
Amazon Web Services, Inc.
Google LLC
Apple Inc.
Microsoft Corporation
SAP SE
Baidu, Inc.
Wipro Limited
Infosys Limited
HCL Technologies Limited
Huawei Technologies Co., Ltd.
AT&T Inc.
Accenture PLC
Cognizant Technology Solutions Corporation
Capgemini SE
TIBCO Software Inc.
Zoho Corporation Pvt. Ltd.
Pegasystems Inc.
Intelligent App Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global intelligent app market analysis, the factors that are positively influencing the market growth rate over the forecasting years such as bots, wearable app market, e-wallet usage and mobile payment option. North America market is growing due to the increased adoption of machine learning and A.I. solutions. Cloud-based intelligent apps will surely capture the market even more due to the increased customers in adopting cloud-based solutions. However, low penetration rate in developing countries about this market is hampering growth rate.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 23.43 billion |
Market size value in 2031 | USD 283.12 billion |
Growth Rate | 31.9% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Intelligent App Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Intelligent App Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Intelligent App Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Intelligent App Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONIntelligent App Market size was valued at USD 23.43 billion in 2019 and is poised to grow from USD 30.91 billion in 2023 to USD 283.12 billion by 2031, growing at a CAGR of 31.9% in the forecast period (2024-2031).
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Report ID: SQMIG45E2074