Home > Reports > Utility App Market Type, Size and Forecast to 2030 | Straits Research

Utility App Market

Utility App Market: Information by Market place (Google Play Store, Apple iOS Store, Others), and Region — Forecast till 2030

Published At : 27 Jul, 2022
Updated At : 18 Nov, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
7.24 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

The global utility app market size was valued at USD 4.76 billion in 2021 and is projected to reach USD 8.92 billion by 2030 at a CAGR of 7.24% from 2022 to 2030. Enterprises in a variety of industry verticals are adopting digital technology and digital business strategies to improve their operations. With the expansion of digitalization, the utility and business applications of utility apps are growing in significance. The utility application provides the detection of hidden threats such as spyware and malware, the blocking of misbehaving applications, and the monitoring of current and historical network activity. Utility applications provide comprehensive solutions that add value, guarantee efficient operations, and boost the productivity of iPhone and Android applications.

Get more information on this report Download Sample Report

Market Dynamics

Drivers for the Global Utility App Market

  • Internet Penetration Is A Major Driver For The Market

The remarkable increase in Internet penetration and subsequent data demand, especially in developing nations such as India, China, and Brazil, is anticipated to contribute positively to market expansion. The Internet has become the primary mode of communication for a variety of devices, including tablets, smartphones, and laptops, over the past decade. In recent years, the number of mobile app purchasers has increased as a result of the expansion of the e-commerce industry, product variety, and numerous discounts and offers accessible exclusively on e-platforms. The availability of low-cost data plans from telecom carriers, which reduces the cost of mobile internet and attracts a greater number of consumers online, is another factor contributing to the acceleration of utility app downloads across all platforms.

  • Easy Access To Smart Phones Act As A Major Driver For The Market

With the evolving role of smartphones, these devices are used to play games, browse the internet, and access social media accounts. In addition, devices have additional features such as a flashlight, calendar, and calculator. Measurements, reminders, notepads, spreadsheets, and calendars are examples of utility apps that leverage these functionalities to enable a variety of personal and business activities, such as for a variety of purposes. Utility apps are mobile applications that run on the Apple iOS and Android platforms and are primarily concerned with designing and integrating applications to facilitate operations and boost productivity. The utility application provides solutions to facilitate day-to-day tasks. With iPhone and Android applications, these apps transform a mobile phone into a multifaceted device. In addition to flashlight usage, camera integration, watch integration, alarm integration, calendar integration, wireless control, smart security, and synchronised uploads, utility solutions are enriched with additional features.

Restraints for the Global Utility App Market

  • Lack of Proper Internet Connectivity In Developing Economies Hampers The Growth Of The Market

The global market is anticipated to be hampered by a lack of high-speed internet connectivity in developing and underdeveloped nations, as well as business uncertainty regarding the development and integration of software applications. Moreover, increased investment in smart technologies and the adoption of the Internet of Things (IoT) and connected devices are anticipated to create significant growth opportunities for market participants over the forecast period.

Opportunities for the Global Utility App Market

  • Artificial Intelligence Based Applications Are Expected To Bring In New Opportunities

Artificial intelligence is integral to the design and development of various smart phones. Various smart phone manufacturers, including Apple, Samsung, Huawei, and others, are incorporating machine learning and artificial intelligence into the development of their smartphone models, thereby creating lucrative opportunities for market expansion. Moreover, according to a study, 200 mobile application developers are anticipated to incorporate AI artificial intelligence and machine learning into smartphones in order to enhance features such as camera and security applications. In addition, businesses are integrating artificial intelligence into smartphones and tablets to empower mobile applications and boost the performance of a variety of mobile devices. In addition, AI enables mobile applications to gain insights from the diverse data generated by all users and assists in enhancing the user's decision-making abilities, thereby creating lucrative opportunities for the mobile application market. During the COVID-19 pandemic and lockdown situation, the governments of numerous nations restricted physical movement, and citizens opted to remain at home out of precaution. During the pandemic, the utility app market gained traction due to the increased demand for services of the highest quality standard. Moreover, with the growing trend of work from home and online lectures the utility app market will have new opportunities.

 

Segmentation for the Global Utility App Market

This market is segemnted on the bais of marketplace, regions and competitors. On the basis of marketplace in 2021, approximately 60 percent of the global market revenue was generated by the Google play store segment. The market expansion is being refuelled by the top Android widgets, a price comparison tracker, an open ecosystem, personalised alert features for enhancing the user experience, and an intelligent multitasking system. The Android platform offers thousands of apps with utilitarian features. There will likely be a rise in their popularity in the coming years as the number of available utility apps in the Play Store increases.

The Apple iOS store segment will experience the highest CAGR of 8.6% between 2022 and 2028. This is due to the increasing demand for secure operating systems among smartphone users in the U.S. and U.K. who are concerned with data privacy. The market expansion is being refuelled by faster access and lucrative user interference features. Cloud storage, automatic shopping app updates, and an access pass to expert-validated advice for utility apps are indicative of the market's substantial growth over the forecast period.

 

Regional Analysis of the Global Utility App Market

Utility App Market Regional Analysis

Regional Growth Insights Request Sample Pages

In 2021, North America held the largest revenue share, and it is anticipated that the region will continue to experience robust expansion in the years to come. The United States positively influences the expansion of the regional market. The presence of well-established manufacturers of medical devices is one of the key factors driving market expansion. This region's increasing adoption of technologically useful applications is driving market expansion. The U.S. market share is influenced by the increasing demand for smart utility apps powered by artificial intelligence. The growth of the market will be refuelled by the accessibility of social media integration apps. The United States is one of the most promising markets for launching new technology in terms of its IT infrastructure and advanced research and development activities, which facilitate innovation and the development of utility apps. In addition, the availability of IT resources and related technological talent is anticipated to contribute to the expansion of the market.

Asia-Pacific is anticipated to be the fastest-growing regional market due to the region's smartphone usage and internet penetration potential. China and India are anticipated to continue to dominate markets with significant growth potential for all mobile app ecosystem participants. In addition, rising discretionary income and government initiatives such as Digital India are likely to contribute to the growth of the regional market in the coming years. In addition, advancements in networking technology and the availability of low-cost mobile data are the two most important drivers of development in the region. In addition, numerous companies are cooperating or forming alliances to offer users a unified platform, thereby reducing their development and maintenance costs.

Europe held the second-largest revenue share of over 25 percent in 2021 and is anticipated to continue growing at a rate of 7.6 percent over the forecast period. Europe will continue to experience significant year-over-year growth in mobile device and internet penetration. Contributing to the market revenue are the United Kingdom, Germany, and France. Smartphone users are concerned with their personal privacy. Banking, Financial Services, & Insurance, Information Technology & Telecommunications, e-Commerce, Education, and Manufacturing all contribute to the market for Utility Apps.

 

Global Utility App Market: Competitive Landscape

The market is comprised of a number of well-established multinational corporations and a number of small and medium-sized vendors. Vendors of software are concentrating on research and development in order to introduce cutting-edge technology that will increase the utility app's accessibility and adoption. In addition, these vendors are expanding their presence in all regions of the world in an effort to increase their market presence and revenues. This kind of initiative is anticipated to increase the Utility App adoption rate. To expand their global footprints, the vendors are aggressively pursuing both organic and inorganic strategies.

Some prominent players in the global utility app market include

  • Acer Inc.
  • Apple Inc.
  • Microsoft Corporation
  • Mobibiz
  • Magneto IT Solutions
  • LogMeIn, Inc
  • Glasswire Inc
  • NeatBytes
  • Proton Technologies AG
  • MiXplorer

Recent Developments

  • In January of 2022, Cisco introduced a new ruggedized catalyst switch for industrial edge applications at utilities, railways, oil and gas facilities, and highway traffic flow and safety operations. The new rack-mountable Catalyst Industrial Ethernet 9300 switch is based on Cisco's Catalyst 9000 series switches, which are utilised in a variety of applications, including smart buildings and other industries.
  • HCL Technologies (HCL), a leading global technology company, expanded its strategic transformation partnership with AMS OSRAM in July 2019 to digitise one of the optical solutions market leader's key business processes and drive enterprise resource planning and customer relationship management systems standardisation across the organisation. In addition, HCL will continue to oversee the client's IT infrastructure operations integration.

 

Global Utility App Market: Segmentation

By Marketplace

  • Google Play Store
  • Apple iOS Store
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
Free Sample Report

"Find new revenue generation opportunities"