Top 5 Industries Experiencing Growth in the Mobile Market

We’ve officially entered the mobile era in which industries are transforming their business platforms to focus on mobile apps. The shift is a significant movement in technology and is expected to remain the focus for the foreseeable future. Convenience is key in 2022, and it doesn’t get much more convenient than having access to all of your needs right from your phone. Research shows that there are an average of 80+ mobile apps on every smartphone, and users are steadily decreasing their desktop usage. While every industry can certainly benefit from making the switch, there are some industries experiencing incredible growth and innovation from mobile apps. We’ve gathered the top 5 industries thriving from the mobile movement. 

Finance

Many people can’t fathom going into an actual bank for standard transactions these days. The finance industry was one of the first to slowly switch to digital and the efforts have since paid off.  Finance is a top-performing industry in the mobile market with large corporate banks like J.P Morgan and Citibank, and small-town community banks having introduced mobile apps as their primary platforms. Customers can set up their mobile accounts and get access to their statements, transactions, loans, bills, and customer service. The industry continues to ramp up its digital investments and innovate the way people manage their finances, investments, and banking.

The mobile market has introduced a new world of opportunity for traditional banking corporations and modern fin-tech startups. Ease of use and rapid innovation continues to draw in new thinkers, new creators, and lots of new users. Recent studies show that over 77% of people use apps to make payments and that mobile banking is will produce $693 billion in revenue by the end of this year. Finance is without a doubt a significant industry to watch for as the mobile app space continues to transform.

Healthcare

The healthcare industry has been incredibly impacted by the digital revolution. Some factors driving growth in the healthcare mobile market include increased consumer focus on health and wellness, increased use of smartphones, and versatility in the healthcare industry. The mobile healthcare market is estimated to be worth over $20 billion with a forecasted growth rate of 40% over the next 7 years.

Mobile apps have revolutionized the way we access healthcare by allowing patients to obtain and share important files, reports, and doctor's notes from their phones. Mobile apps have also improved the industry by reducing wait times, rescheduling delays, and file transfer issues.  Aside from traditional healthcare, there are mobile apps for preventive healthcare, general health and wellness, mental health, and even telehealth. Health tracking products like Apple Watch and Fitbit have begun integrating with healthcare apps to encourage healthy lifestyles and give real-time data to doctors and medical professionals. At this point, the sky is the limit for mobile healthcare, and they are certainly an exciting industry to keep your eye on in the mobile market. 

E-Commerce

E-commerce is without a doubt a leading industry in the mobile market. Mobile apps have given e-commerce companies and brands the opportunity to expand access to their products, personalize services, and target specific audiences based on consumer preferences. Consumers are reliant on their smartphones for most everyday things, and mobile apps are quickly becoming the preferred platform for shopping of all kinds. Mobile retail sales are predicted to reach $728 billion by 2025, accounting for 44.2% of retail e-commerce sales in the United States alone.

E-commerce has taken advantage of the mobile market by offering in-app exclusive deals, suggestions based on previous purchases, and providing app-based rewards. There is endless room for growth and innovation for e-commerce in the mobile market, and the next few years are likely going to have the industry as one of the most successful in the mobile space. 

Education

The education sector has been slowly integrating the use of mobile apps for some time now. However, the pandemic forced the industry to speed up its digital transformation to provide educational resources amid prolonged lockdowns. Now, education can be accessed right from the smart devices of students. Everything from college courses, high school classes, and post-grad education can be accessed via a mobile app. Additionally, new apps are being created regularly to offer specific educational resources for things like language, history, geography, trade skills, etc. If there’s something you’re looking to learn, it's likely there's a mobile app for it. 

We know a huge benefit of developing a mobile app is the convenience it brings for consumers. Education takes advantage of this benefit as well, with mobile apps reducing the administrative strain that so often comes with school and classes. Gone are the days of mailing in college applications, paying tuition, and tracking down transcripts. Now, students can pay bills, order e-textbooks, get transcripts, and even sign up for classes through a mobile app. Mobile apps are reducing the gap in access to education by providing a mobile space for students to take advantage of at any time. 

Entertainment

Last but certainly not least, the entertainment industry has seen immense growth and innovation from mobile applications. At any given time, an average of 5 apps out of the top ten list are entertainment-based. Mobile apps have revolutionized the way the entertainment industry interacts with its target audiences. These mobile apps take advantage of the many ways personalization can be integrated into the app’s development. From targeted suggestions, to push notifications, and even interactive segments there's no shortage of innovation in the mobile market for this industry. 

The industry is so widespread that can it can be tough to narrow down, but every sector of entertainment needs engagement and excitement to stay successful. Mobile apps effectively maintain both. Streaming apps like Netflix and Hulu continue to see immense growth in the market as they continue to persons the experience for each user. Other apps like Tik-Tok and YouTube are interactive and suggest videos based on the user's preferences. This keeps consumers engaged, constantly accessing new entertainment, and always wanting more. In addition to these, there are sports apps, games, video and photo apps, and social apps. Mobile apps have given the entertainment industry a platform with features exceeding the capabilities of desktops. 

Grow Your Business With Invemo LLC

‍
Looking to make the switch to mobile? Invemo LLC has you covered! Invemo LLC has over 10 years of experience designing beautiful and highly rated mobile apps. We take your unique business and share its narrative through a mobile platform that's sure to resonate with your ideal audience. We deliver fast results without ever sacrificing quality. For more information, contact us today.