Mobile Apps are now one of the essential elements for a business. Here, check the role of mobile apps in these 10 industries – Healthcare Industry, Finance Industry, Entertainment Industry, IT Industry, Travel Industry.
Mobile apps are specific applications being designed and developed for mobile devices that use wireless technology such as smartphones, tablets etc. These applications have certain features which make them usable for all.
Now, technology has changed our lifestyle, and it has influenced many things in which one of the things are businesses and industries. These are totally dependent on the technology where the role of mobile apps is crucial. The industries such as the Healthcare industry, finance industry, entertainment, and travel industries have multiple apps on application repositories such as Google Play Store and Apple Store.
One of the best advantages of mobile apps is that it facilitates the user to perform tasks such as payment, ordering of product, requesting services, etc. Therefore, it became one of the greatest tools to reach the target audience for industries and has boosted sales because most smartphone users use these apps.
What data say about the role of mobile apps in industries?
If we go by the statistics, only in 2020 the total mobile app download is 218 billion, and mobile app revenue recorded is 462 billion US dollars. These data represent a big picture that how mobile apps are influencing businesses and industries.
A user spent 6.3 hrs. a day only in the USA while using the internet on mobile, and you can consider it the same for worldwide users. Another study says that a smartphone owner utilizes 90% of mobile internet for accessing mobile apps. As per one of the well-known websites for statistics, Statista.com says that 2.9 million apps exist on the Google Play Store, where 4.4 million apps are available on its counterpart Apple App Store.
The above data proves that there is ample space for running the business successfully via mobile apps. The businesses like the healthcare industry, Finance industry, Entertainment industry, IT industry, Travel industry are looking forward to more innovative apps. On the other side, software services providers such as mobile app development companies in California are working consistently to cater to the market needs regarding mobile applications.
The graph of mobile app revenue is rapidly increasing from 2014. In that year, the mobile app revenue was 97.7 billion US dollars, whereas in 2021, it is recorded 693 billion US dollars, and it is projected to reach 935.2 billion US dollars by 2023. This rapidly increasing graph generates opportunities for the industries and software development firms such as mobile app development companies in Atlanta.
How can mobile apps help the industry?
As there are several mobile apps are existing on the internet, these applications have simplified life. Everything is available on click, from ordering food to air tickets and ordering fashionable clothes to order required medicine. These apps facilitate the users, but they also facilitated the industries to attract the crowd as their customers. As a result, businesses are experiencing a high conversion ratio via mobile apps.
The factor that makes mobile applications worthwhile for all industries that they can be used by any enterprise irrespective of size. Even these apps are providing great results to small business owners. One of the prime reasons for preferring the apps by organizations is to improve the customer experience, which is true in all senses. There is cutthroat competition now, and businesses survive tough due to the worst market conditions and pandemics. So, here apps are working great to serve the customer better and to onboard the new customers.
For running a business successfully, some factors are required: smart communication, fine market strategy, customer engagement, and fair business policies. All these can be implemented via mobile apps.
In terms of marketing purposes, these apps are a great help. Everyone knows that traditional techniques are not in use. Furthermore, it is digital marketing due to millions of users on the internet, so these applications facilitate the marketers to easily reach the target audience, which generates high revenue. One of the experts from mobile app development companies in Chicago said that the popularity and use of high mobile usage raise the demands of mobile apps for the industries.
The various segments of industries are now seeking software solutions to cater to their clients because other than generating revenue retaining the clients is also a challenge that can be overcome via mobile technologies in the form of applications. Therefore, they are hiring mobile app development companies for on-demand solutions. In this tough world only, mobile apps can help greatly for survival in the market.
How are mobile apps playing an important role in these 10 industries?
The role of mobile apps is so crucial so in this segment that how mobile apps are playing their role in the growth of industries. Let’s start one by one –
1. Healthcare Industry
The healthcare industry is one of the important industries worldwide. Besides serving the people, this industry also generates revenue and employment. This industry has faced many changes where IT-based healthcare solutions are the latest ones. The healthcare industry is projected to reach 11,908.9 billion US dollars by 2022, where the major contribution will be mobile apps.
Pandemics have changed many usual things, and this industry is mostly affected by it. Providing health services to people is very easy now because it is not bounded by location. Any person from any place can consult with the doctor sitting on another side. The medical practitioners can prescribe the medicines and test via messages instead of writing pages.
In addition, due to COVID-19, there is fear of infection everywhere, so instead of purchasing medicines from the chemist shops, people are ordering medicines online via mobile applications. It empowers the drug manufacturing companies, suppliers, and distributors in revenue generation. Via mobile healthcare apps, it is quite easy to get the treatment that indicates greater life expectancy. In terms of investment, it is also a great idea.
2. Finance Industry
When we talk about the role of mobile apps in these 10 industries, how can we forget about the finance industry that works as a backbone for the worldwide market? In the past five years, there are multiple developments and changes took place.
Due to the evolution of technology every day, huge transactions are going on online, where the major percentage is via mobile financial apps. In addition, many applications in the market allow users to request financial services and empower fintech firms to offer their services.
One of the biggest segments that are being covered by apps is online payment. There are several apps where users can register themselves with their banking details and pay for anything like purchasing, utility bill payment, money transfer, etc.
Most of the banks are online and have their presence on the mobile platforms where the firms like mobile app development, NYC are developing IT-based financial solutions.
There are 57 million mobile banking users only in the USA, and 86% of US banks offer bill payment services to their clients via mobile apps. In addition, 75% of US millennials use mobile banking.
Other than the banking insurance sector is also targeting the customers via mobile apps by offering various policies and schemes where a person can avail these only by providing the details. After verification via Video KYC, the policy will commence. It shows the complex services turn into simplistic solutions powered by mobile technologies.
3. Entertainment Industry
There is no need to tell what Netflix is? Still, if you do not know about it, you are not from this planet. So do not take it; otherwise, it just a funny quote.
The point is that the entertainment industry is earning billions via mobile solutions by offering OTT platform services where it stands for Over the Top. It refers to the streaming services on mobile devices where you can enjoy your favorite shows and movies without a single ad, and you can watch any time, ant where just you need a device and internet.
Other segments also exist in this industry, including music apps, gaming apps, karaoke apps, and many others where people used to spend their time. These mobile applications come with a simple & interactive user interface so anybody can use them.
Many mobile app development companies in Atlanta, admits in a survey that previous they were only getting request to develop traditional apps but now they have multiple projects related to the entertainment industry where some of the big brands who want to launch their apps with some exciting new features.
As an investment point of view, it also a promising choice for money-making. Here you have to hire one of the experienced developers from the list of mobile app development companies.
4. IT Industry
IT industry is now one of the biggest services providers to the other industries around the world. There are many software development companies that are developing apps in thousands for several brands. There are various segments of it, where mobile app development companies hold a major percentage.
Due to the tough competition, industries are now targeting their customers via mobile platforms and app services. However, due to the hard-working work of the IT industry that delivers on-demand mobile app solutions to their clients, it is possible.
In the year 2020, Android and iOS apps combined generated $111 billion, where 65% out of the total revenue held by the iOS platform. You will be amazed to know that a total of 71% of revenue is generated by only gaming apps. This data is enough to prove the role of mobile apps in the IT industry. This industry is rapidly increasing where mobile applications became the biggest tool.
5. Travel Industry
Although the whole travel industry is on a halt due to COVID-19, several apps in the market offer tours and travel services. Whenever this period over, other apps will also be launched on the Android and iOS platforms. In addition, most of the big travel brands have their own app.
As per Google, 58% of travel apps are being used by users every month. Out of the total, 51% of app users said they came to know about the particular app from their friends and family members. It fuels the travel marketers to target the customers by offering their services at a discounted price to onboard the customers more on their platform. There is a 100% rise in the search for summer camps; it also encourages travel companies to organize such activities where mobile apps will be a great help.
There may be other data about it on the internet, but the point is via apps, travel companies can also have profit. They only need to hire some best services provider, such as mobile app development companies in California.
6. Retail Industry
It is one of the top industries that look forward to mobile app development companies integrating apps into their existing systems. These applications are helping retail business owners to connect with the customers and for having boosted sales.
The company owners are targeting the potential crowd using geolocation services where mobile apps are working as their guide to reach them. The apps are facilitating the retailers to communicate with the customers via alerts, notifications, and push messages.
There are no time boundations for the customers; they can order their home supplies any time in 24/7 hrs. They only need to choose the quantity and brand after the goods will be delivered to their doorstep. This new normal became the biggest cause of high revenue generation where the retail industry is earning millions. The mobile app development companies have a huge workload for developing new retail apps that show considerable demand for these apps.
7. Fashion Industry
There is a huge rise in mobile apps for the fashion industry because instead of searching for the desired apparel shop to shop, people are finding it online. Most of the fashion brands have their presence on mobile platforms. That is helping them to digitally market their brand.
One of the survey reports done by Google says that more than 55% of users search for the products on Google before purchasing them. So it fuels up the SEO strategies done by the brands to catch the customer intent and draw attention to their platform. So mobile shopping is new normal where the Fashion industry is getting a huge response.
The online fashion apparel purchasing is expected to close on $100 billion in the US, so the fashion industry brands will earn as per their popularity and believe that there will be a major contribution of mobile apps in revenue generation.
8. Education Industry
Availability of internet technology is now becoming the ray of hope for many learners to connect with their instructors or teacher easily. During the global lockdown, the whole education industry moved to online platforms where all the stakeholders enjoyed the benefits. The mobile apps save students’ studies and empower the tutors to generate the earing via providing online lessons.
It reduced the limitations such as time boundations, location boundations etc. Now, a student can approach the best teacher from any locality. Moreover, these apps can be customized as per the need of students and teachers.
The educational apps are also helping in skill development where the learner only has to subscribe to the course by paying online, then they will be connected to the desired instructor for adding some new skills to their skill set.
9. Food Industry
Most people are ordering food online, and it is one of the new ways of earning for the food industry where local restaurants are still working and earning. Therefore, mobile app development companies are developing customized applications to cater to the need of the food market.
During the lockdown, a major percentage of people ordered their favorite dishes via food delivery apps. Where it includes a local restaurant to the big branded restaurants. It allows users to order the food items from different places in one order. There is no need to roam for it here and there. The food companies or brands are having great revenue due to this new pattern, and daily basis, customers are rapidly increasing.
10. E-commerce industry
The whole eCommerce industry is totally dependent upon mobile technology. This industry makes mobile apps popular and encourages other industries to come over this platform. The specialists from mobile app development companies in New York said that eCommerce apps benefits in two ways first, it gives 360-degree freedom to the consumer for choosing, comparing, and ordering the desired products and on the other hand, empowers the brand owners to sell more products by offering various deals in a single click.
A major portion of the revenue generated by mobile apps is because of the eCommerce industry. This is because it introduced the mobile shopping platform to the world after other industries migrated to it. Therefore, if anyone wants to invest their money, the eCommerce industry is most promising to promote their brand via an app built by a mobile app development company.
The Final Words:
Our life is influenced by technology now because few persons left do not use smartphones irrespective of brand. The mobile technology covers a major portion of business worlds as every enterprise have their presence online, and they are serving their customers via the websites and mobile apps.
Each service is available right now with a click, such as the healthcare industry, finance industry, entertainment industry, industry, and travel industry. Only you have to use the apps developed by mobile app development companies.
So, let’s say that role of mobile apps in these 10 industries is more than enough. It is true and applicable in all sense because without it now, any business can’t survive due to the huge portion of customers who like to avail themselves of the services via mobile.