New year is right around the corner and the world has already seen drastic changes in the tech industry. Mobile apps have become more relevant and reliable in terms of elevating a business. A business nowadays can’t succeed without an attractive digital profile. By profile, we are referring to the digital presence of the business. A business can’t attract more customers by going door-to-door. Newspapers are a thing of the past, mobile apps are the number one choice of business tycoons and entrepreneurs with fresh out of the oven ideas. If you are looking to try your luck in the world of millions of startups, your idea should be out of the box and you must get a mobile app developed. Why? You’ll find out why you need to get a mobile app developed through this blog. Read ahead to find out the potential of mobile app development and what the recent figures suggest about the growth of the mobile app market in the coming years.
Numbers Suggest The App Market will be Worth Over $571 Billion
What Does it Mean for Your business?
According to a report released by the insight partners, the mobile app market revenue is expected to touch $571.2 Billion by the year 2030. The current stats depict the revenue of the mobile app market to be over $207 Billion. The expected growth of revenue in the coming years is good news for business globally. If you are running a business, consult with an app development company and get your app built. If you are new to the concept of app development but curious about its advantages for your business, we have some interesting points that might help you make up your mind.
How Much Money Can an App Help You Make? Advantages of Mobile Apps
The amount of money an app for your business can help you make can be in thousands or maybe in millions as well. It all depends upon the type of business you are running and what kind of an idea you have for your app. eCommerce, food delivery, healthcare, and education apps top the list of apps that make the most amount of revenue. Here are some ways in which mobile apps can generate revenue.
In-App Purchases
Apps can offer virtual goods, premium features, subscriptions, or upgrades within the app itself, allowing users to make purchases. Popular games often employ this model, offering items, levels, or power-ups for purchase.
Advertising
Through in-app ads, apps can generate revenue by displaying banners, videos, or interstitial ads. The earnings depend on the number of views, clicks, or actions taken by users.
Subscriptions
Services like streaming platforms, news apps, or fitness apps often offer subscription models for accessing premium content or features on a recurring basis.
Freemium Model
Apps are initially free to download but offer additional paid features or content, encouraging users to upgrade for a better experience.
Sponsorship & Partnerships
Collaborations with other companies or brands can bring in revenue through sponsorships, promotions, or partnerships within the app.
Mobile apps offer tons of advantages in today’s digital landscape. They enable businesses to expand their reach globally, tapping into a vast and diverse audience. With personalised experiences, apps can cater to individual preferences, boosting engagement and fostering a loyal user base. Know more about the advantages of mobile app development.
How To Find App Developers in the UK?
If you are running a business in the UK or have an idea for a startup, getting an app built will be great for growth. Hiring the perfect app development team for your business is crucial for a number of reasons. The right team of app experts will understand your ideas, prepare a plan, and give you a suitable timeline for the project. App development takes a great amount of effort and it is always best to choose a team that you find credible and experienced. You can find credible app development firms on platforms such as GoodFirms and Clutch. These platforms only list credible app development companies with the best portfolios. If you need advice for your first app, you can always get in touch with our team of experts.