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CEOWORLD magazine - Latest - Education and Career - Uh-oh, Do You Think the “App Boom” is Over?

Education and Career

Uh-oh, Do You Think the “App Boom” is Over?

For some time now, there has been a lot of debate and hype around this. Many have predicted that app wave is done and dusted and it’s time for other tech to dominate. However, the stats speak a different story altogether.

Reason people cite when stating that app economy is over or that new apps won’t find any downloads rely their theory on download stats and that Chatbots, AI, IoT etc. are the new wave tech and are going to replace the app economy.

Well, yes the market has abundance of app and audience also has matured but that’s leading us in a different direction and that not at all reflects that app boom is over. Further, if we look clearly, we can observe that app is becoming a tool to facilitate implementation of more comprehensive tech.

The apps are, by no means, down and out. The are rather growing and transforming at the velocity of knots. The web is going through a revolutionary application through the desktops, televisions and the mobile web.

Followed are some of the stats and information which provide more information on app economy and how every mobile app development company will look to evolve and take an early edge over others in mastering these trends:

  1. Revenue from apps is on an all-time high

App revenue is ballooning at the velocity of knots and is expected to go past $100bn dollars by 2020 as per reports from established mobile research firm App Annie.

Do those numbers reflect any type of downfall? Do they?

We’re breathing in an era of phenomenal growth when we talk about revenue from mobile apps. The revenue must be accurate and can hardly be manipulated as they are based on the financial filings by Apple and Google.

  1. Instant apps are actually ‘disrupting’ the mobile web, and not the native apps.

Instant apps offer a more graceful experience as compared to the mobile web; they run from a URL in a browser and deliver the same rich and powerful experience of native apps with no pain points of taking up large disk space.

The foremost important point to ponder upon is that instant apps are still apps and work characteristically through their respective app stores.

Native apps provide a richer user experience as opposed to a mobile website. Why? Because the native applications can communicate with different features of your smartphone, such as microphone, camera, etc.

While instant applications do not offer all the required permissions (for instance, backgrounding or push notifications) to conventional apps, they are completely native in the sense that they’re downloaded (rather invisibly and quickly) through the app stores.

Both Apple and Google cherish mobile web’s “appification”. For beginners, it improves the user experience by a fair margin by allowing interoperability with deep links through the apps as well as on the web.

In general, they can be used to operate things the way you prefer, for instance, clicking on an add on Yelp navigates you to the restaurant within the Yelp app, no matter it is installed on your device or not.

More significant is that the mobile web appification inserts both Apple and Google into the web payments forefront.

Payments are the more holy grail, permitting users to process payments natively through a swipe of a fingertip rather than web-based check out process to deliver a seamless experience. In addition, the appification helps line the pockets of Google and Apple seriously.

  1. Consumption facilitator Vs download

It’s a purple patch for mobile app developers today, with billions of people having access to smartphones. The formidable competition in mobile hardware segment has forced manufacturers to release cheap smartphones, which means most of us have smartphones today.

Data plans are on an all-time low.
Google and Apple stores are now more generous that they ever were. Apple is offering lower fees on subscription revenue –  going down from 30% in 2015 to 15% today.
Apple’s App Store has over 2M apps, with 130B downloads, and more than $50B paid to app developers.

  1. TVs and desktops open new avenues

Desktops and TV platforms could add to the evolution and give the app economy a new direction. Windows 10 flaunts a quintessential app store. You no longer need to open as it can be easily launched from an app instead, with just a click.

Companies like Marriott and Airbnb would benefit drastically from a desktop app. Rather than users required to open their website in a web browser to explore opportunities to book a room, these companies can promptly create more loyal customers with their icon stationed in plain view on an individual’s desktop.

As for TVs, watching content from cable boxes is getting infrequent. Users are nowadays more and more keen to stream content from a website, from apps installed on TVs, or from their mobile phones.

Like a desktop PC, if you have a smart TV, you can easily and quickly launch Netflix through an app. The same thing applies to YouTube or any other preloaded app.

Moving forward, improved features and functionality in TV apps will be available for easy implementation.

Measurement firms such as Comscore and Nielsen will have to analyze app performance now along with assessing cable boxes.

  1. Chatbots are AI in constant evolution

Facebook is hoping for the best and wants chatbots to come good so that the users stay within the messenger app and spend money on the platform. Just like instant apps, the idea is to mitigate the pain point of downloading apps or the need to switch apps for handling different tasks.

Numerous retailers are counting on chatbots to enhance user experience; however, chatbots are still far away from fulfilling that objective.

It’s a fact that chatbots do not work well as of now, and do not threaten native apps in terms of the customer experience they deliver.  It’s again a sheer case of promoting something that’s not fully matured.

Mobile payments were likely to boom in 2014 but we never see someone paying with anything except a credit card or cash in a physical store even today.

We’re not witnessing the slump of apps, we’re rather experiencing more and more apps being developed and run successfully across new platforms.

Instant apps do spell the demise of the mobile web as we already know and stand for a reincarnation of a powerful, better native mobile web.

One thing needs no second thought; every mobile app development agency is mulling to make it big with these promising trends for the year ahead. Let’s wait and watch before discarding the trend that changed the tech space and market dynamics forever!

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CEOWORLD magazine - Latest - Education and Career - Uh-oh, Do You Think the “App Boom” is Over?
Yogesh Choudhary
Yogesh Choudhary is the founder & CEO of Finoit Technology, a leading Mobile app development company which makes app ideas into reality by providing unique design and app development services across IOS and Android platforms.