Global Intelligent Apps Market Will Reach USD 52.04 Billion By 2024: Zion Market Research

According to the report, the global intelligent apps market was valued at approximately USD 6.98 billion in 2017 and is expected to reach approximately USD 52.04 billion by 2024, at a CAGR of around 33.24% between 2018 and 2024.

New York, NY, Dec. 05, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Intelligent Apps Market By Type (Consumer Apps and Enterprise Apps), By Store Type (Google Play, Apple App Store, and Others), and By End-User (Retail and E-commerce, Telecom, Banking, Media and Entertainment, Travel and Hospitality, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024”. According to the report, the global intelligent apps market was valued at approximately USD 6.98billion in 2017 and is expected to reach approximately USD 52.04billionby 2024, at a CAGR of around 33.24% between 2018 and 2024.

The core components of intelligent apps include data analytics and machine learning. These apps have algorithms based on artificial intelligence that eliminate the unrelated data and focus on the relevant data to make decisions. The main goal of these apps is to understand the consumer need and deliver contextual information on the probable problems before they arise. These apps enable automatic task execution without waiting for user commands.

Browse through 66 Tables & 31 Figures spread over 176 Pages and in-depth TOC on “Global Intelligent Apps Market Size 2017: Industry Type, Share, Applications, Trends, Analysis and Forecast, 2017-2024”.

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Increasing adoption of machine learning platform in mobile applications to make smart and better decisions is expected to boost the demand for intelligent apps globally. Intelligent apps make use of machine learning and real-time tools as well as historical data to make smarter decisions and provide a highly personalized user experience. The growing use of advanced analytics to improve user experience is further anticipated to escalate the global intelligent apps market growth. Intelligent apps combine prescriptive and predictive analytics, product insights, operational vision, and customer data with the modern, user-friendly application, and design development tools to create a highly impressive user experience. Furthermore, rising use of smartphones is driving the enterprise mobility, which, in turn, is likely to drive the intelligent apps market growth. Moreover, increasing technological advancements made in mobile applications is anticipated to create ample opportunities in the global intelligent apps market. However, data privacy and security concerns might restrain the intelligent apps market growth in the upcoming years. 

The intelligent apps market is segmented based on type, store type, and end-user. By type, the global intelligent apps market in bifurcated into consumer apps and enterprise apps. Store type segment includes Google Play Store, Apple App Store, and others. Various end-users analyzed in this market are retail and e-commerce, telecom, banking, media and entertainment, travel and hospitality, and others.

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North America is projected to hold the largest share in the intelligent apps market. Increasing adoption of personal assistance apps by North American consumers is driving the intelligent apps market. The main objective of personal assistant applications is planning of daily activity list. The personal assistant apps assist the users in planning an optimal succession of desired activities. According to a recent study, 44% of the smartphones in the U.S. have personal assistance apps in 2017. Personal assistance apps, such as Amazon’s Alexa, Siri, etc., that are based on AI are witnessing huge demand from smartphone users in North America.

Europe is likely to witness moderate growth in the global intelligent apps market. This is primarily due to the growing hotel industry and adoption of smart apps to find apt hotels in Europe. According to the HI Partners, a leading hotel chain in Europe, hotel segment contributes approximately 85% to the tourism industry and has a growth rate of 3.5% annually. Presently, the European hotel industry is undergoing a transformation phase and adopting new distribution trends, products, and services. These new trends are primarily driven by a growing customer base.

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Asia Pacific is expected to register the highest growth rate in the global intelligent apps market in the upcoming years, due to higher adoption of artificial intelligence (AI) and deep learning tools by various organizations. According to a recent report published by Adobe and E-consultancy, Asia Pacific is the leading region in the adoption of artificial intelligence and has the highest investments made in digital skills training. Furthermore, increasing adoption of smartphones in the Asia Pacific is expected to boost the global intelligent apps market. As per the eMarketers, there are nearly 1.25 billion Smartphone users in the Asia Pacific region.

Latin America is expected to witness moderate growth in the intelligent apps market in the forecast time period. Adoption of artificial intelligence in Latin America is in its early stage. According to a recent study, AI companies in Latin America generated USD 1.1 million in 2017. Increasing usage of smartphones in the Middle East and Africa is expected to boost the demand for intelligent apps in the region. In terms of usage, the Middle East and Africa are likely to become the second largest mobile subscriber region in the world in the future.

Browse the full “Intelligent Apps Market By Type (Consumer Apps and Enterprise Apps), By Store Type (Google Play, Apple App Store, and Others), and By End-User (Retail and E-commerce, Telecom, Banking, Media and Entertainment, Travel and Hospitality, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024” report at https://www.zionmarketresearch.com/report/intelligent-apps-market

Key players profiled in this market report are Opera Software, Cognizant, Google Inc., Microsoft Corporation, Hewlett Packard Enterprise, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., Development LP, and SAP SE, among others.

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This report segments the global intelligent apps market as follows:

Global Intelligent Apps Market: Type Segment Analysis

• Consumer Apps
• Enterprise Apps

Global Intelligent Apps Market: Store Type Segment Analysis

• Google Play
• Apple App Store
• Others

Global Intelligent Apps Market: End-User Segment Analysis

• Retail and E-commerce
• Telecom
• Banking
• Media and Entertainment
• Travel and Hospitality
• Others

Global Intelligent Apps Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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