According to Statista, mobile apps will generate $189 Billion US dollars in revenue by 2020.
But unfortunately just having a mobile app won't make you successful. Let's talk about a few of the leading mobile app trends and technology trends in 2020 that will impact a successful technology transformation.
Beacon Technology: What is it?
Beacons are wireless transmitters that make use of Bluetooth technology to send signals. It helps in the information exchange of sales and can be handy in the retail sector. It’s of great use in location technology and proximity marketing and is expected to be used by museums, hotels and theme parks.
Impact of 5G Wireless
5G is 100 times faster than 4G. By the end of 2020 everything will be on 5G which means apps can do more and work faster. 5G isn't just about speed. It promises to cater to other functionalities like increased data security and augmented reality.
A Jump in the Wearables Market
A research report by Business Insider states that there will be a jump of 35% in the wearable market in 2019. People want to feel less dependent on carrying their phones around. We expect a continued rise in fitness trackers and apple watches. This report from Statista claims a staggering revenue of $33 billion generated by the wearable devices by 2019.
First we replaced cash with credit cards. Now, people want to replace credit cards with mobile wallets. Apple is working on a peer to peer money system (currently many people are familiar with services like Cash app and Venmo). The surge in mobile wallet trend is due to the expansion of the internet payment systems. Users require fast and secure ways to transfer money. There are currently over 2 billion wallet users and we expect that number to continue to grow.
The mobile app industry continues to evolve and expand at a rapid pace. The competition among developers and mobile app makers is intense. It's crucial to work with more than a developer. Contact us if you're looking for a tech partner to help guide you through an app development or app update project.