Global Intelligent Apps Market Is Expected to Reach USD 148.63 billion by 2028 : Fior Markets
Fior Market Research LLP
7 min read
Intelligent Apps Market by Type (Commercial apps, Consumer apps), Application (Retail & E-Commerce, BFSI, Media & Entertainment, Healthcare, Education, Telecom, Manufacturing), Deployment Model (Cloud, On-premise), Operating System (Android, iOS), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, Oct. 26, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global intelligent apps market is expected to grow from USD 15 billion in 2020 and to reach USD 148.63 billion by 2028, growing at a CAGR of 33.2% during the forecast period 2021-2028.
The intelligent apps market is witnessing significant growth from the past years. This growth is attributed to advanced technologies like the use of machine learning, artificial intelligence, and personal data to provide personalized output. The application of intelligent apps in various booming sectors like retail & e-commerce, BFSI, healthcare, and education has become advantageous for the intelligent apps market. The introduction of newer upgrades and innovations in intelligent apps makes people curious to experience the service has propelled the intelligent apps market. Since the trend of intelligent apps is growing, many sectors are adopting it to remain updated and survive in a technology-driven market.
Intelligent apps are referred to as applications that use real-time data and historical data from user interaction sources to suggest, predict, deliver adaptive & personalized user experience and help make decisions. Intelligent apps are designed to function on smart devices. Intelligent apps tend to act as personal assistants. The intelligent apps are supported by machine learning algorithms and promote knowledge as per the surroundings. Intelligent apps tend to observe and analyze user preferences and behavior. The fundamental feature of intelligent apps is to provide an omnichannel experience to users. It understands the conduct of the user and then suggests the action. Intelligent apps use properties of cognitive computing, big data, and artificial intelligence to deliver analytical output. Intelligent apps are popular because of the personalized responses they provide.
The rise in technology and smartphones has resulted in the growth of the intelligent apps market. With the change in technology, the demand for newer smartphones and intelligent apps is growing. The faster adoption rate of mobile payments and e-wallets are driving the market of intelligent apps. The rise in need for big data & analytics, advanced analytical tools, and new product development drives the intelligent apps market. With the rise in technology, there is significant demand for a personalized customer service experience. Companies are using intelligent apps to bridge the communication gap between themselves and customers. Intelligent apps have seen demand in business to customer (B2C) market. These factors are driving the global intelligent apps market. Lack of awareness about product and service, privacy & data security concerns, and lack of technical expertise is challenging the growth of the global intelligent apps market.
Key players operating in the intelligent apps market are Microsoft, Hewlett Packard Enterprise Inc., IBM Corporation, Intel Corporation, Apple Inc., Amazon Web Services, Baidu Inc., Bigml, Facebook, Google LLC, Oracle Corporation, SAP SE, Sentient Technologies, and ServiceNow. To gain a significant market share in the global intelligent apps market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Consumer Apps segment dominated the market and held the largest market share of 65% in the year 2020
On the basis of type, the global intelligent apps market is segmented into commercial apps and consumer apps. Consumer apps segment dominated the market and held the largest market share of 65% in the year 2020. The growth is attributed to a rise in demand to provide an outstanding customer experience and commercial apps as the communication medium between businesses.
Retail & E-commerce segment dominated the market and held the largest market share of 20% in the year 2020
On the basis of application, the global intelligent apps market is segmented into retail & e-commerce, BFSI, media & entertainment, healthcare, education, telecom, and manufacturing. The retail & e-commerce segment dominated the market and held the largest market share of 20% in the year 2020. The growth is attributed to the extensive penetration of smartphones in the market and the development of the e-commerce sector, as they are using intelligent apps to assist in shopping and personalized service.
Cloud segment dominated the market and held the largest market share of 60% in the year 2020
On the basis of deployment model, the global intelligent apps market is segmented into cloud and on-premises technology. The cloud segment dominated the market and held the largest market share of 60% in the year 2020. The growth is attributed to companies working in the market of regional intelligent apps are expanding their data center networks in the country.
Android segment dominated the market and held the largest market share of 60% in the year 2020
On the basis of operating system, the global intelligent apps market is segmented into android and iOS. The android segment dominated the market and held the largest market share of 60% in the year 2020. The growth is attributed to the wide use of android smartphone users as the android operating system is easier to use than iOS.
Regional Segment of Intelligence Apps Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global intelligence apps market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 25.16% in the year 2020. This growth is attributed to the rapid acceptance of technology, machine learning, and artificial intelligence. The North American region has always been advanced in IT and software development.
The global intelligent apps market is analysed on the basis of value (USD billion). All the segments have been analysed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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