The Importance of Mobile Apps in Today’s Market

How often do you use your mobile phone in a day? Probably many times, whether to book a cab, watch your favorite movie, listen to a song, order food or groceries, etc. We are not magicians, but still can tell you that your smartphone has over 40 apps right now. Well! That’s not a magic trick but a fact based on several studies. According to a study conducted by Simform, the average person has over 40 apps installed on their smartphone, but 89% of their total interaction time with mobile phones is spent on only 18 apps. 

With people moving towards mobile-first technology, the importance of mobile apps in today’s market is expanding exponentially. If we talk about figures, there are over 4 million mobile apps, each serving a different purpose and use. While these digital apps are primarily intended to offer convenience in user’s life, they are no less than a boon for businesses. 

Mobile applications have proved beneficial in elevating businesses’ growth, specifically helping them discover and reach potential customers. That’s the reason why 62% of companies in the world already have a mobile app or are in the process of developing one. 

If you’re thinking of investing in mobile app development, you should first know its importance for your business and how it can help you reach new heights. This blog post will help you understand the reasons behind the growing importance of mobile apps in today’s market and how they can help you succeed in this competitive world. 

Key Statistics Showing Dominance of Mobile Apps on Everyday Life

• The global mobile application market was worth a staggering USD 206.85 billion in 2022. It's projected to expand at a 13.8% compound annual growth rate (CAGR) from 2023 to 2030. (Source: Trafficguard)
• 21% of millennials use an app more than 50 times daily. (Source: Mindsea) 
• On average, 49% of individuals open an app more than 11 times daily. (Source: Manifest)
• Research indicates that an average adult interacts with their mobile device about 144 times a day, which translates to approximately every 5.5 minutes. Even more surprising is that a whopping 88% of this interaction time is dedicated to mobile apps. (Source: Reviews.org)
• About 58% of users reported that they primarily use entertainment-oriented applications. This category includes social media, gaming, and communication apps. (Source: Simform)
• Approximately 62% of companies either already have a mobile app or are in the process of creating one. (Source: Fingent)

Importance of Mobile Apps in Everyday Life

The original concept behind mobile apps was to retrieve information and enhance productivity. However, as technology advanced and smartphones' capabilities increased, the scope of mobile apps expanded. People began to focus on different values and purposes, leading to the creation of a wide variety of apps with impressive designs and functionalities.

Mobile apps have simplified our lives in many ways. They are always available to help us save time and effort, as well as reduce dependencies. For instance, if you want to send your friend money instantly, financial apps eliminate the need to visit a bank. If you require groceries, there's an app that allows you to shop from the comfort of your home and delivers everything to your doorstep. If you find yourself getting bored, countless apps are available to keep you engaged and productive. 

Nearly every business sector has successfully introduced apps and is continually striving for improvement and advancement. Here are a few areas where mobile applications have proven to be a game-changer:

Social Media

Platforms such as Facebook, Instagram, WhatsApp, and Twitter have revolutionized the way we used to interact with our family and friends. These apps do more than just allow us to share photos and videos with loved ones. 

They provide a space for us to express our viewpoints on various topics, giving everyone a chance to be heard. Not only do these apps keep us entertained, but they also serve as a source of education. Their effectiveness has led to their use as marketing tools for businesses.

E-commerce

Online shopping has made our lives easy by facilitating the buying and selling of goods and simplifying marketing. It operates around the clock, and online payments add to its convenience. 

Apps like Amazon, eBay, and Temu connect buyers and sellers, simplifying the entire process. This ease of use has led to the widespread adoption of such apps in our everyday lives.

Recreation

If you ever feel bored, remember that your entertainment is in your pocket. There are numerous apps for gaming, music, and reading. People have started to prefer mobile apps for everything from reading to playing games. 

Particularly, reading apps have greatly benefited their users by allowing them not to carry their books everywhere. These mobile apps meet consumer expectations, which contributes to their growing popularity.

Food Delivery

Platforms like Zomato, Deliveroo, DoorDash, and UberEats have been instrumental in revolutionizing the entire food industry. These apps ensure timely delivery, making it extremely convenient for users. Due to this convenience, their customer base has seen rapid growth. According to Business Of Apps, Uber Eats' revenue in 2023 was $12.1 billion, which is an 11% YOY increase. 

Education and Learning

Educational apps have simplified learning for students globally. They transform complex concepts into easy-to-understand lessons and allow users to revisit the content as needed.

Car Booking

Apps like Uber have made traveling easier than ever. With just a phone call or message, you can book a car anytime, anywhere, using your location.

Entertainment

The movie industry has embraced the digital age, moving from the big screen to digital platforms. This transition makes it easy for movie enthusiasts to download apps and watch their favorite movies at their convenience. These apps are designed keeping the consumer's interests in mind.

Online Banking

Banking has never been easier. There's no longer a need to visit a bank for transactions. Online banking has made the process more convenient and time-efficient. Meanwhile, the integration of payment modes like UPI, NEFT, and IMPS into mobile apps has further helped the banking sector to thrive. 

Importance of Mobile Apps for Businesses

Now that you have understood how mobile apps are making people’s lives easy and convenient, let’s proceed to discuss the importance of mobile apps for businesses. 

#1. Act as Advanced Marketing Tools

There is no better marketing tool than mobile apps themselves. They can propel your business forward and give you a competitive edge. They have ushered in a new era of marketing, leaving traditional methods behind. 

Mobile apps easily handle tasks ranging from launching new products and announcing offers and discounts to managing bookings and newsfeeds. Meanwhile, push notifications are one of the most coveted features that enhance a mobile app's marketing effort. 

Push notifications notify users about deals, discounts, and offers directly to the users, aiding business owners in boosting their sales and revenue.

#2. Enhancing your Brand's Visibility

Your mobile app is your business card that helps amplify your brand's visibility worldwide. On average, users spend 2 to 3 hours daily on their phones, interacting with various apps based on their requirements. During this interaction, they become familiar with the brand logos and images associated with the apps.

Repeated exposure to your app's logo or image leads to brand recognition. Once users remember your brand, they are more likely to turn to your app when seeking the products you offer. Therefore, owning a mobile app can significantly enhance your brand's visibility, attract new customers, and establish a strong brand identity.

#3. Boosts Productivity

It is no secret how mobile apps are capable of streamlining everyday tasks. Numerous apps, particularly those for retail and food delivery services, incorporate features like shopping carts and filters to help users in elevating their shopping experience. 

Research indicates that the presence of an online delivery app can significantly enhance a business's productivity. This advancement is also evident in retail businesses. Mobile apps foster customer interaction and boost shopping efficiency.

#4. Cultivates Customer Trust

As a business owner, it's essential to understand the importance of customers to any enterprise. Therefore, business owners should prioritize establishing a reliable customer base for long-term success. Mobile apps serve as an optimal solution for cultivating a trustworthy customer base by maintaining constant contact with them. 

A satisfied customer will likely endorse your business to others. Offering a referral bonus can further motivate customers to share your app, helping expand your customer base. Therefore, a mobile app is a vital component that can assist you in redefining your business's customer loyalty.

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#5. Mobile Apps are Relatively More User-friendly than Websites

Mobile applications are designed with user-friendliness in mind. They have revolutionized how businesses used to interact with their customers, enabling simultaneous engagement across various platforms and channels. 

These apps come with numerous features and functionalities that enhance their ease of use. For instance, push notifications enable businesses to share updates, offers, and promotional content.

#6. Improved Customer Service

For a business to thrive, it is imperative to offer top-notch customer service, irrespective of the quality of the services it provides. Without excellent customer service, increasing sales becomes a challenge.

However, mobile applications can significantly improve customer service by addressing and resolving customer issues. They ensure a consistent presentation of products and services each time a user accesses them, providing a seamless interface experience regardless of the page being accessed. This simplicity and consistency eliminate any potential difficulties for customers, making mobile apps an essential tool for businesses.

#7. Gaining a Competitive Advantage

Mobile apps are innovative and futuristic. They offer a wide range of features that can enhance a user's interaction with a business. In simple words, an app can be used to augment our product or service, making it more attractive than what our competitors offer. 

For instance, an app for a car repair service or a health insurance company could allow users to access and manage all the services they need in a single platform. 

One key benefit of mobile apps for your business is that they can help you differentiate yourself in the market. While apps are highly important and their use in business is on the rise, remember that 38% of businesses are still out of reach for mobile apps, providing you with an opportunity to get ahead of your competitors.

#8. Boosting Customer Engagement

Retaining an existing customer is significantly easier than acquiring a new one. The more we interact with a customer who has already made a purchase from us, the more likely they are to make another purchase. 

Email newsletters are a popular method of maintaining contact with current customers. All we need is the customer's email address, their consent to receive marketing emails, and the capability to send regular emails. 

However, thanks to mobile apps, newsletters are no longer the only way to keep in touch with your customers. For instance, push notifications in mobile apps enable you to send alerts to a user's device at any time, greatly outperforming marketing emails.

#9. Increased Sales

Creating a mobile app for your business can significantly enhance your sales and profits. The impact largely depends on the breadth of your target audience. Developing a business mobile app not only boosts your sales but also paves the way to attract new customers. 

Your mobile app can serve as a platform for offering deals, bonuses, and push notifications. By downloading your app, users can directly interact with your business. They can purchase products through your app, thereby increasing your profits. 

Nowadays, many mobile app development companies are primarily generating revenue through their apps. Online payments facilitated by these apps make transactions more convenient for both customers and business owners.

#10. Reduced Cost

The ultimate goal for your thriving business is cost reduction and increased profitability, and mobile apps can help achieve this, especially for small businesses. A business can only thrive when it continually generates leads and maintains customer engagement with new sales deals.

A mobile app can handle all these tasks in one place, eliminating the need for additional steps like hiring sales or marketing teams. By keeping track of mobile app analytics and acting on the insights, you can generate more business ideas and strategies. This approach will decrease your investment in business promotion, which can be a significant advantage.

The Future of Mobile Apps

The mobile app industry is constantly changing, with new technologies continually reshaping and revolutionizing in a positive way. Let's explore the trends driving the future of app development. 

Artificial Intelligence and Machine Learning

Artificial Intelligence (AI) and Machine Learning (ML) are powerfully influencing iOS and Android apps. Their role in the future will be to create tailored experiences, smarter suggestions, and more precise search results for users.

Cross-Platform Development

With the proliferation of devices, the importance of cross-platform development is on the rise. This approach allows developers to create apps that run seamlessly on iOS, Android, and the web using a single codebase. This not only saves time and reduces costs but also improves user experiences.

Progressive Web Apps

Progressive Web Apps (PWAs) are revolutionizing the web experience. By combining the feel of native apps with the accessibility of browsers, PWAs offer fast, reliable, and universal access across devices. Expect their popularity to rise as a convenient and easy-to-develop alternative to native apps.

Internet of Things (IoT)

The Internet of Things (IoT) connects devices into an inter-connected network that exchanges data. The integration of IoT and apps provides users with real-time access to valuable insights about humans and equipment, thereby enhancing efficiency.

Wearable Technology

The connection between wearable devices and apps is becoming stronger. This combination is sparking innovation, particularly in the fields of sports, fitness, fashion, and healthcare. Apps that sync with wearables are set to transform experiences and industries.

The future of mobile app development is filled with opportunities for both users and businesses. The aforementioned trends and features will offer numerous benefits to businesses.

Conclusion

This blog isn't just about discussing the significance of mobile apps but also about encouraging you to take the necessary steps. If you're a business and still have no mobile app, you're lagging behind in today's digital age. So, why are you waiting for? Seek out a top-notch mobile app development company that can help you an app that can streamline your business operations and boost user interaction.

If the above-listed benefits have sparked your interest in developing a mobile app, Matoag Technologies is ready to assist you. We're equipped to help you stand out in the ever-expanding market.