Want to stay ahead of your competition in the mobile experience department? The best way to do that is to understand current and emerging trends. Will the mobile app development world shift towards mobile payments? What type of market penetration will there be in healthcare sector for mobile and smart devices? Is it a good time to create an augmented reality mobile app? Or, should you be focused on infusing your software with artificial intelligence (AI)? Or, is there some other technology to explore? These are questions that keep mobile-focused professionals up at night.
To help you in this regard, I’ve rounded up the latest and most relevant stats and facts about mobile app development.
PayPal Heads Mobile Wallet Rankings as Users Forecast to Pass 2 Billion Next Year. (BusinessWire)
Nearly 2.1 billion consumers worldwide will be using mobile wallets to make payments or send money by the year 2019. This shows a 30% increase from 1.6 billion, which was recorded in 2017.
In 2019 In-person mobile payments will reach $34.160 million. (Statista)
Statistics show a gradual rise in Peer to peer and mobile in-person payments from the year 2014 through 2018. In 2017, In-person mobile payments stood at 16.240 billion US dollars and arose to $23.47 million. By 2019, this amount is expected to rise to $34.160 million.
Nearly 30% people prefer to bring their phones over their wallets when shopping. (Business.com)
A great time for businesses to start accepting mobile payments because nearly 66 % of people surveyed believe smart phones will replace conventional payment methods like credit cards and cash by the year 2020.
In-store mobile payments will reach $503 billion by 2020, reflecting a Compound Annual Growth Rate (CAGR) of 80% between the years 2015 and 2020. (BusinessInsider)
In US, the in store mobile payment boom seems to be steadily advancing by 40%, garnering a CAGR of $1.28 billion by 2020.
Mobile point-of-sale revenue worldwide is expected to touch $50 billion in 2021. (Reuters)
Rising from just $6.6 billion, mobile point-of-sale revenues are expected to rise to $50 billion by 2021, causing a ripple effect in increase the number of such devices that account for 1 in 3 point-of-sale terminals.
NFC technology more popular with American retailers. (FT)
50% of all surveyed American retailers were found in favor of having NFC (Near Field Communication) technology or were already using it in their stores for payment.
Mobile NFC payments to cross $130 billion mark by 2020. (Retaildive)
Contactless payments have been on the rise ever since Apple Pay was released this year. A study by Strategy Analytics reveals that payments made through NFC-enabled mobile phones are set to surpass $130 billion of consumer retail worldwide by the year 2020.
Apple Pay to account for 1 in 2 contactless mobile wallet users by 2020. (Techcrunch)
The number of users who tap to pay using a contactless payment solutions will grow to 450 million people worldwide by 2020. This is according to a research by Juniper, forecasting that mobile payment solutions like Apple Pay, Samsung Pay, Google Pay, and others will considerably dominate how people pay for services. Out of all of these, Apple is expected to amass the largest audience, with 1 in 2 of the “OEM Pay” users globally.
Girl Scouts sold more cookies using mobile payments. (Retaildive)
A Girl Scouts council enjoyed an increase in sales of 13 %, by the troops using mobile payments. The per-girl box sold average increased from 156 boxes to 177 boxes when they opted to use mobile payment instead of cash or credit.
Mobile Health Apps
Statistics entailing Global digital health market from the year 2015 to 2020. (Statista)
In 2017, the mobile health market reached $21 billion, worldwide. By the year 2020 it is expected to reach $206 billion. Mobile and wireless health market will be two major reasons for such a huge difference in numbers.
Healthcare sector to be dominated by wearable and mobile technology (Statista)
By the year 2019, the global market for wearable devices in the health sector will amount to approximately $4.4 billion.
HIMSS survey: 93% of physicians use mobile health technology daily. (Ehrintelligence)
93% of physicians use mobile health technology as part of their daily activities. While 80% healthcare professionals use it in providing patient care.
An estimated 1 in 4 of the medical practitioners have EHR systems that record clinical information from various mobile phones, and 36% of these allow their patients to access information and health records using a mobile device.
247 million people and 40,000 healthcare apps. (ElectronicHealthReporter)
There are around 247 million people in the US and these stats suggest that everyone has downloaded a healthcare app for personal use. While there are more or less 40,000 apps available for use by patients, consider the market gap with a user base of 247 million people.
Bedside providers using mobile devices for healthcare services. (MobileBusinessInsights)
By 2017, 65 % of nurses were using mobile devices at a patient’s bedside to give better patient care. By the year 2022, this number is expected to cross a percentage of 97%, projecting the number of nurses using mobile devices to improve healthcare services for their patients.
Mobile health solutions garnered $6 billion of funds in the year 2017. (Economist)
In an article by The Economist, mobile health solutions will enjoy continued development as the big sharks in the sea of investors show a bloodthirst for startups offering such solutions. A good time to jump in the mobile health sector.
Chat-bots reducing business costs by a heaping $8 billion. (CNBC)
By the year 2022, Chat-bots could help cut down annual business costs by a giant $8 billion figure. As predicted by a new research, anticipating an increase in the number of automated customer service programs employed by companies, as they embrace the power of Artificial Intelligence (AI).
By 2020, 85% of customer interactions will be handled without a human. (VentureHarbour)
A study by Gartner suggests that, touching the year 2020, 85% of customer interaction with enterprises will be handled without a human.
97% of mobile users are using AI-powered voice assistants. (CreativeStrategies)
An interesting breakdown of these people shows that 39% of these use voice assistants in their homes, 51% use them while driving their car, 1.3% use them voice assistants at work and 6% use them in public.
The mobile world congress 2018 will host AI as the main excitement. (Gartner)
The analysts, Roberta Cozza and Annette Zimmerman, over at Gartner suggested quite a few things to look for in this year’s mobile world congress. Among other things, they suggested Artificial Intelligence to take the center stage.
Consider the benefits of Cognitive Technology paired with mobile technology. (Deloitte)
Of all the enterprises going AI, 83% of early AI adopters reported substantial (30%) or moderate (53%) economic benefits.
2020 will be the year of AI powered softwares. (Gartner)
Gartner predicts that in the year 2020, almost all new software products will come with Artificial Intelligence. In 2017, the term ‘artificial intelligence’ was very popular, ranking on number 7. Gartner forecasts that by 2020, more than 30% of CIOs will consider Artificial Intelligence a top five investment priority for their business.
Augmented Reality / Virtual Reality
By the end of 2018, Almost all Android smartphones will be AR-enabled. (Gartner)
Augmented Reality is continually to show why it will supplant VR as the more relevant emerging technology. Google is expecting all Android smartphones to be AR compatible. If you thought AR would never grow beyond a niche technology for nerds, think again!
Augmented Reality & Virtual Reality will secure a $209.2 billion dollar market size by 2022. (Statista)
AR/VR are sister fields progressing handsomely. In 2016, the combine worldwide market size was $6.1 billion, In 2017 it doubled to $14.1 billion and by 2018 it increased to $27 billion. Basing on the rising trajectory, by 2022, it is expected that augmented and virtual reality will reach a market size of $209.2 billion.
22.8 million AR glasses to be shipped by 2022. (NewgenApps)
Talk about the promising market of smart augmented reality glasses. Mobile apps with an AR kick will surely pay off better, because by the year 2022, the number of smart AR glasses sold is expected to reach 22.8 million units. It’s a great time to begin building an augmented reality application.
2018 will be a big year for augmented reality – but 2021 will be bigger. (Standard.co.uk)
Augmented Reality has had paramount success so far, but it isn’t stopping there. The big guns are preparing to release new AR tech soon, notably the fabled Magic Leap smart AR glasses. We should expect them to hit the market in 2018. 2018 will be big for AR, but 2021 will likely be much bigger!
Mobile AR expected to reach 900 million by the end of 2018. (Digi-capital)
AR smartglasses are expected to reach a 3.5 billion installed base and garner $85 billion in revenue within 5 years. Mobile AR is also growing into a giant with these exciting AR platforms like Apple ARKit, Google ARCore, Facebook Camera Effects, and Snap Lens Studio.
Want to know how to turn these facts and trends into an actionable plan to create or update your business’ mobile app? We invite you to contact CitrusBits for a free consultation.