The world gearing towards being mobile driven needs not too much justification. With the widespread penetration of affordable mobile devices, the number of mobile users are increasing and the mobile usage is reaching new heights.
The number of mobile phone users in the world is expected to pass the five billion mark by 2019, according to a Statisa report. In India alone there will be about 813.2 million smartphone users by 2019.
This will continue to be at it accelerated growth phase for a good number of years unless something like Musk’s Neuralink accomplishes its goal of building computers into our brains.
Even then, it might only let us withdraw a few functions we perform on our smartphones and reduce our reliance on mobile devices, but not entirely put it off picture. So, in short, smartphones are here to stay for a long time from now.
Initially, when smartphones were introduced, they came with very basic apps. These apps performed minimal functions and there were apps for games, alarms, wallpapers, themes and a few other basic necessities.
But today, technological innovations have resulted in us incorporating some app for every task that we do and thus embedding smartphones into every aspect of our lives.
To take a quick look at the consumer side of stats, App Annie predicts that consumers will spend 30% more across mobile app stores to exceed $110 billion in 2018. Furthermore, China, India, and Brazil are the top markets to watch with China offering huge potential for growth, as its consumers lead in-app store spend.
While the increasing spends are a great hope motivation for the app industry to grow, 2018 also seems to be increasingly interesting for a number of trends that are likely to follow in the app space. Read on to find out what new trends are prone to prevail through the year
With demonetization that happened towards the end of 2016 in India, 2017 was the year of fortune for payment wallets, especially Paytm because of them onboarding a large number of micro entrepreneurs and small shop owners.
However, 2018 might turn out different. It occurs that payment wallets will face varied competition not only from the direct competitors, but also several indirect ones.
While Google Tez would kick in to compete against payment wallets in cases of smaller transactions, Blockchain based payment apps would compete in cases where there are more valuable transactions happening.
Google Tez entered the payment space by the end of 2017, to bring in an interesting twist in the online payments industry. Tez, however, isn’t directly a competitor to the other payment wallets like Paytm and Mobikwik.
Instead, Tez directly deals operates with the banks of customers. It has tied up with around 52 bank globally and facilitates payments through a UPI ID, QR code or simply mobile numbers.
Wearable technology is a hot topic, undoubtedly. These 2 stats will give you an idea at the size of the market we are looking at
Be it smart watches, smart glasses, smart headsets, smart weighing scales or any smart gadget, all of these still function in coherence with smartphone apps. At this stage in time where the technology is still fairly new, the year will see no change in this interdependence.Tags: Mobile App