The global Intelligent Apps to be used for multiple operations in varied end-use sectors over the coming years. Additionally, the development of intelligent apps by prominent manufacturers such as Google, Amazon, IBM, Oracle, etc to provide promising growth scenarios for the market.
The global Intelligent Apps market is expected to grow at a promising CAGR of 31.7% during the forecast period. The market for intelligent apps is estimated to be valued at US$ 10.78 billion in 2018.
Action-oriented, Contextual, and data-driven application of Intelligent Apps
The intelligent apps are capable of saving and using the past data references these applications are capable of generating relevant and useful information. These apps maintain a proper records of all the recent activities in providing output based in data analytics on those records. For instace, Cleo is an application which is a budgeting app which provides expense capabilities with upto 90% of accuracy to help people maintain their balance between montly earning and expenditure budget
Although the application such as Cleo have a fairly high price which limits is use and gives an advantage to other apps as walnut money maager app, and spending tracker.
Adapative Nature and Significant betterment in the decision making process
The intelligent apps shows a great intent for knowledge up-gradation and are highly adaptive in nature. The machine learning module in intelligent apps aids for the ability of evolution in behavior on the basis of the requirement of work and surroundings. These intelligent apps are capable of performing taking into account the purpose of their use.
For example Oracle has developed an AI application for development in invoice handling. As ofnow 65% of the companies use rules based softwares. Whereas 35% use various manual techniques generating problem of no purchase order along with the invoice. The use of these apps provides attested purchase order averting form no PO no Pay problem.
High growth projections for sales in Business to Customer and Business to Business
The use of intelligent apps is increasing amonst the end users at an unprecedented rate. Due to the ease of operation and contextual and data driven results many consumers are extensively using inteliigent apps for multiple purposes. Through using AI filters and data analyzation technique intelligent apps can put forth most relevant and and context driven information in a streamlined manner. The ability to provide more relevant data and faster rate of data analyzation also to augment use of intelligent apps in B2C division
Aditionally, the value added features and elevtated techniques for operational erxcellence driving the use of intelligent apps in multiple businesses. Based on the available records and information installed for production sites, intelligent apps can alert the employees and labours through beacon signals about the site location where the safety kit is needed to ensure elevated safety. Also, for sales operations intelligent apps can provide a systematic representation of available leads and proriticzation of those leads based on the fruitful conversion possibility.
Impact of COVID-19
The Intelligent Apps is anticipated to sustain its growth rate even after the regulations and restrctions imposed by numerous governments across the globe, the essential services which is healthcare sector has a high market sahre in the intelligent apps market. The strong performance of healthcare sector to provide subsequent development for intelligent apps market. Additionally, growth in use of vitual data analysis and virtual assistance methods to act as a catalyst for market growth.
Healthcare segement to post most optimistic scenario for the market
Healthcare segment is estimated to create landmark developments in terms of revenue share in the global market. The healthcare sector witnessed an increasing requirement of automated applications to manage the healthcare resources and regulate the workflow. The intelligent applications such as BUOY HEALTH, PATHAI, ENLITIC, FREENOME to induce the healthcare sector operational efficiency and reduce the involved life risk.
The requirement of more healthcare equipment, increased awareness of patients about the proper treatement and diagnostics to boost the healthcare segments share in the intelligent apps market
The market of North America to retain its remarkable impact on the gloal market
The U.S. makes some hefty investments in the heathcare sector. The toal annual expenditure by the federal government exceeds nearly US$ 1.8 trillion. By the end of 2017, the healthcare budget of U.S started to outpace the GDP growth by average of 1.9. The abilities of Artifical intelligence integrated intelligent apps are capable of transforming the sector. It elevates the operational efficiency through maintaining the data about available medicines stock, providing information about the available equipment and assigning time of duties to staff ion regards with consultation time allotated to each patient and concerned doctors. All these factors promoting the intelligent apps market in North America region. Also in the lieu of current scenario, where there are increasing requirement of proper healthcare system and continuous investments by the respective governments in the healthcare sector. Market of North America expected to retain its sizeable share in the global market. Whereas, Mexico and Canada will improve their share in the market at a promising pace.
Need for better infrastructure and developments in enterprise and Financial Technology solutions to provide optimistic growth for Asia Pacific region
Over the past decade, Asia Pacific region has observed some milestone developments with regards to development of enterprise clustures and elvated level of ew technologies in fintech sector. Also to transorm and improve level education institutions. The countries like India and China constitute 37% of the global population which also provides great opportunities for intelligent apps market in healthcare services in Asia Pacific region. The help in data analyzation based on past and present expenses by individual and generate some budget plans help to propel the market of intelligent apps in the fintech sector. Shift in reliance of consumers of amrtphone applications for these services to reinforce the market share for intelligent apps market for this particular application in Asia Pacific region
According to Straits Analysis, key players in the global Intelligent Apps market are Google LLC (the U.S.), IBM (the U.S.), Facebook (the U.S.), Amazon (the U.S.), bAIDU (China), Oracle Corporation (the U.S.), Hewlett Packard Enterprise Company (the U.S.), among others.
Intelligent Apps Market: Segmentation
By Product Type
The Middle East and Africa (MEA)
Frequently Asked Questions (FAQs)