The global progressive web applications market is expected to reach US$10,149 million by 2027, growing at an estimated CAGR of 32% over the forecast period, primarily driven by demand from low-income countries with speeds slow internet
PUNE, India, February 17, 2020 /PRNewswire/ — In 2018, it was reported that the number of people connected to the Internet was around 4 billion. Among which; there are 3.5 billion smartphone users. It is estimated that 80% of the time is spent on the user’s top 3 applications. Although there are around 2.9 million apps on the Play Store, the number of new apps downloaded is on the decline. For the proper functioning of a native application, the user must be equipped with high-speed Internet; which is a concern in low-income countries. Also, the native app takes a lot of data which leads the user to delete the app. Moreover, the cost of developing a native application is higher, especially for small and medium businesses. Progressive Web Apps are a viable alternative to native apps, which provide app-like functionality using web technology.
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Companies such as Angular, Google LLC provide the tools needed to develop a Progressive Web Application. For example: with the help of tools from Google LLC, BookMyShow, one of the largest online ticketing companies, saw an 80% increase in conversions. This was mainly due to the size of the app (54 times smaller than the native app) and faster loading times. By offering, tools and libraries represent the largest segment of the global progressive web applications market.
Although projective web applications have restricted functionality, low loading time and less data storage would fuel the growth of the global progressive web applications market.
“With the rapid increase in the number of smart phone users, users spend a lot of time on applications. However, due to low internet speeds in developing countries, native apps cannot work properly. Progressive Web Apps take up very limited space and can be run on slow internet speeds as well as offline. These factors would drive the global progressive web applications market exponentially. Media and entertainment is the largest segment, largely due to reduced load times.”
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The detailed research study provides qualitative and quantitative analysis of the Global Progressive Web Application Market. The market has been analyzed from the demand side as well as the supply side. The demand side analysis covers market revenue across all regions and major countries. The supply analysis covers the major market players along with their regional and global presence and strategies. The geographic analysis performed focuses on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Main conclusions of the report:
- In terms of revenue, the global progressive web applications market is expected to reach US$10,149 million by 2027 because Progressive Web Apps are a viable and less expensive alternative to native apps.
- Dynamic web applications have become extremely popular due to social networking websites like Twitter, Facebook, etc. and e-commerce websites such as Amazon, eBay, etc. By application, the dynamic web application is expected to witness significant growth in the coming years.
- Since cost is one of the major advantages of Progressive Web Apps, popularity is highest among small and medium-sized businesses, which have limited R&D spending. However, large organizations have also started launching progressive web apps which have paid rich dividends to them. For example, Forbes, after launching its Progressive Web Apps, saw a 20% decrease in bounce rates and a 65% increase in average session durations.
- Progressive Web Apps are used by various industry verticals with desirable results. For example, The Weather Channel is a popular and reputable media channel that forecasts the weather. Loading time was an issue with the channel’s native app. After launching the Progressive Web App, the loading time improved by 80%. By vertical, the media and entertainment segment accounted for more than 20% of the global progressive web applications market.
- Some of the players operating in the progressive web application market are Angular, Cloud Four, Inc, DockYard, Inc, Enonic AS, Evan you (Vuejs), Facebook Inc. (React), GoodBarber, Google Developers (Chrome DevTools, Lighthouse, Workbox), Hidden Brains InfoTech, IBM Corp., Ionic, Kreyon, Microsoft, Netsmartz, Nexivo Consulting Private Limited, Nine Hertz, Preact, Redux, SNSEpro, TechnoScore.com, The Polymer Project, Unyscape Infocom, Webpack among others.
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Global Progressive Web App Market:
- Tools and Libraries
- Dynamic Web Application
- Static Web Application
By end users
- Small and medium enterprises
- Large companies
By industry vertical
- Media and Entertainment
- travel and tourism
- Retail and e-commerce
- Real estate
- Health care
- North America
- Rest of North America
- Great Britain
- Nordic countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- South East Asia
- Rest of South East Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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