Intelligent Apps Market Analysis

Intelligent Apps Market Analysis

UK based consumer intelligent apps market is poised to witness above 35% CAGR through 2027. The growing demand to a provide unique user experience in accordance with the historical data and geographical locations is enabling the demand for consumer intelligent apps. These applications are majorly used for the granular processing of real-time and historical data related to customer-to-business interactions. This helps companies in the market to customize their offering in accordance with potential customer preferences and features in intelligent apps.
 

In the UAE, cloud deployment segment is forecast to observe growth rate of around 35% CAGR from 2021 to 2027. Companies operating in the regional intelligent apps market are expanding their data center network in the country. For instance, in October 2020, Oracle Corporation established a new data center in Dubai. This helped the company to expand its market reach and provide access to Oracle Cloud applications to develop intelligent apps. According to the Federal Competitiveness and Statistics Authority, in 2019, 99.9% of individuals in the UAE owned mobile phones. The widespread penetration of cloud technologies along with smartphone users are adopting intelligent apps.
 

The Android operating system segment is estimated to see exponential growth over 2021 to 2027. The country is reporting an increase in the penetration of android smartphone devices and internet usage. As per the Canadian Press, the country has witnessed a sharp rise of internet users amid coronavirus pandemic and recorded more than 2 million social network users as of November 2020. Moreover, the open-source architecture of the operating system enables companies to develop customized intelligent apps to cater to consumer requirements. These regional markets and technology trends are contributing to the growing uptake of Android OS.
 

The retail & e-commerce application in India held more than 20% of the intelligent apps market share in 2020 and is likely to grow significantly till 2027. Consistent growth in the retail & e-commerce industry followed by smartphone penetration is set to fuel industry growth. According to the India Brand Equity Foundation, the country’s e-commerce sector is predicted to reach USD 99 billion by 2024. However, in 2019, online retail penetration stood at 4.7% and is expected to reach 10.7% through 2024. The enterprise-wide need to gain a competitive edge and connect to consumers is anticipated to drive the demand for intelligent apps.
 

Europe dominated the global intelligent apps market with a value of around USD 2.5 billion in 2020 and is projected to grow significantly through 2027. The regional technological innovations and industry-wide digitization are contributing to the market growth. According to the GSMA Intelligence’s Mobile Economy 2020 report, in 2019, the region had a smartphone adoption rate of 76% and ranks second in the world.
 

Furthermore, the adoption of video streaming services across households witnessed an approximately 12.6% increase compared to the last quarter of 2019. Considering these figures and the rising usage of media streaming services, the demand for intelligent apps across Europe will increase significantly.