Intelligent Apps Market size was over USD 27.14 billion in 2023 and is anticipated to cross USD 864.07 billion by the end of 2036, growing at more than 30.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of intelligent apps is estimated at USD 33.76 billion.
An increasing number of smartphone users across the globe, the rising adoption of AI technology, and the increasing trend of mobile app-based advertising across verticals to fuel this market's progress.
Rapid urbanization, changes in business environments, rise in investment, and business intelligence solutions for managing IT environments positively affects the intelligent apps market. The rising developments & integration of technologies such as artificial intelligence and machine learning are expected to increase the market revenue.
According to the 2020 report published by GSMA, there are over 3.5 billion smartphone users worldwide by the end of January 2020.
During the COVID-19 period, where all the industries saw a dip in their market trend, the intelligent app market saw a significant increase in the trend. For instance, introduction of the Arogya Setu app by the Indian government to track and spread awareness about the COVID-19 throughout the country. Till present, the app has generated over 9.8 crores downloads within the country.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
30.5% |
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Base Year Market Size (2023) |
USD 27.14 billion |
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Forecast Year Market Size (2036) |
USD 864.07 billion |
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Regional Scope |
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On the basis of type, intelligent apps market is segmented into consumer apps and enterprise apps, out of which, the enterprise apps segment is anticipated to grab the largest share in the market as the incorporation of artificial intelligence and machine learning abundantly assists in the business transformation.
On the basis of deployment model, the market is segmented into on-premise and cloud. The cloud deployment segment in the global intelligent apps market is projected to grow with a significant CAGR over the forecast period. Cloud-based intelligent apps solutions are becoming the popular choice among users, as the cost related to infrastructure maintenance is reduced.
On the basis of vertical, intelligent apps market is segmented into retail and e-commerce, BFSI, manufacturing, education, healthcare, telecom and others. Among all, manufacturing sector is supposed to generate highest revenue followed and retail and e-commerce. In the manufacturing sector, the intelligent app’s importance is rapidly increasing which are based on a SaaS analytical cloud application that stores, acquires, and makes the decision for operational data from shop floor systems including, machines, test stations, sensors, equipment and simulation machines combined with data from HC
Ms and ERP. AI and ML are the key technologies that maximize productivity by mitigating quick decisions in case of downtime.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Deployment |
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By Application |
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Geographically, the intelligent apps market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in North America industry is predicted to hold largest revenue share by 2036, due to rising developments & integration of technologies such as artificial intelligence and machine learning in the region. 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.
Author Credits: Abhishek Verma
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