If you read the title you would believe that this will be a history lesson, but it is very important to stop for a few minutes to understand the past for a better overview of what future has to offer. For this reason we promise you that this won’t be a boring lecture but rather an interesting trip which will bring a lot of advantages for your business. Let’s begin.
What Is App Economy?
App Economy is a term invented by Apple along with the saying “there’s an app for that” when a new system was created allowing developers to build apps and to generate revenue from their work. Back in 2008, at the beginning of Apple App Store that statement was far from being true but after 9 years it is almost impossible not to find an app that can help you to solve any problem you could have.
How Did It Begin?
It all started when mobile development was aimed for entertainment and the phone was used only for its basic functions. With the launch of App Store and the creation of apps that helped people to complete some tasks easier. Remember how things were few years ago for you when you were using your device and how essential is your smartphone today for every action you make.
The Changes That Are Already Seen
We all know what happened during those years but let’s remember all the facts that brought us in the stage we are today.
From the first iPhone launched in 2007 we realize after 10 years that everything changed in the way we communicate, we spend our time, or we travel. Moreover, with the evolution of mobile devices that allow gamers to play more and to enjoy the audio and visual effects which make them feel like they were inside the adventure, mobile games became an industry itself. For this reason Apple and Google created separated sections for them.
The number of smartphones acquired over these years is impressive. Just look at the chart published by Statista with the sales all over the world from 2007 until 2016.
It is essential for all companies to observe the opportunities created by apps but this doesn’t mean to ignore other channels which have the power to bring them customers. If you think about that you should notice that users come from everywhere and you have to take advantage of all methods which will increase your user base. Keep in mind though concentrating your efforts on valuable ones and to run campaigns for engaging your users.
On the other hand, Apple published the number of jobs in U.S. generated by app economy, 2 million jobs in 50 states. And it is important to specify that since the beginning, iOS developers from U.S. have earned more than $16 billion from App Store.
While the monetization model started with the payable option it appears that now users are more interested in the freemium apps. Despite the fact that users like that the apps are free for downloading they forget that some aspects of the app come with a cost. This means that paid apps may be the solution chosen by many app owners again for the future.
Changes That Are Likely To Be Seen
There are many variables which will influence the way apps will be received in the future but let’s see the major movements that will make the difference between what was in the past and what will come in a few years.
Expectations about The Future Of App Industry As A Whole
For the future, apps are going to be transformed in real platforms that provide full packed services for their customers. These tools will be designed in such manner that users will receive what they want with only a few taps. Just by looking at the most popular apps in the world listed last year you will notice that they aren’t only apps anymore. They became entire environments trying to offer a wider area of solutions taking advantage of the latest technologies available.
The Increase In The Monetary Value Of App Industry
From the beginning app economy saw an impressive boost and continues to rise reaching unimaginable levels. We keep remembering you about the report released by App Annie which explains in detail the future of app economy. We strongly advise you to download it and to take a little time to study it because you will understand better the trajectory of mobile industry for the following years.
Predictions About The Future Of Specific Genres In App Industry
In the same forecast mentioned above you can read about the future of mobile commerce and how that will influence the way we shop.
One of the sectors in app industry where there are announced some improved effects is healthcare where patients will trust more into the system and all the procedures will run faster. Besides that, doctors and scientists will find more solutions for curing people due to the enhancements in technology like AR and VR.
Of course, we can’t go further without saying that games will continue to be a stand-alone segment with its own opportunities for generating revenue and for engaging users in a more interesting way.
In User’s Eyes
Now, going back to you. In what way, mobile evolution affected you personally?
The most obvious modification in customers’ behavior could be the fact that they allow apps to access personal data in order to offer them a great experience according to their preferences and their interests. It is good to continue being cautious with the information you share but it is a real change in the way users observe the benefits provided by the majority of apps.
The Increase In The Trust Level Of Users To Mobile Platforms
The best part in the evolution of app industry is that because of the overcrowded app markets, customers are focused on high quality apps with premium features. Users feel the need to recommend it to their friends and family whenever they discover an app which worth their attention. This way that app is transformed into a viral one. So it is imperative to consider the opinion of the ones who will use the app before making any moves.
We arrived at the end and hopefully we managed to draw the picture of app economy in order to describe the huge steps made in just a few years where those small gadgets and the apps built for them generated an entire industry which will continue to evolve in the future. Can you imagine how this ecosystem will be after 9 or after 90 more years? Who knows? Sky is the limit in this situation.