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Estimates About Indian Apps Market – Vision 2016
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The prospects of India to become a leading apps market are bright and improving at a very rapid pace. It is estimated that in a few years from now, this country will present a stiff competition to currently leading mobile apps markets, the USA and five European Union countries. Most likely, they will be seconded, as India will take the driver's seat to lead this industry. A recent report released on the future of app markets provides a comprehensive detail on how the Indian app market is slowly taking a gigantic form. According to this report, there are several factors involved in affecting the Indian apps market and four of them are mentioned herein.
The dynamics of the overall economic situation – This country has maintained a steady GDP rate of 5.8 percent in the past two decades and this has made it one of the world's fastest growing economies. Another fact to support this reason is that this country's GDP PPP or Purchasing Power Parity is ranked third by authorities like The World Bank, The International Monetary Fund and The CIA World Fact Book. Experts say that this trend in the country's growth will be the most influential factor in augmenting of demand of mobile apps.
Continuously rising average income of the people – At present, the average household income of India is around USD 295, which is just 2 percent of average income of people living in the US and Germany. If compared to the average income of Chinese household, the Indian average income is around 50 percent of Chinese monthly income. A recent report published by Human Development Index (HDI) reveals that 41.6 percent Indian population lives below USD 1.25 PPP per day. Future estimates of average income of this country are very bright and reveal that it will cross the average income of many western countries in next few years. This will result in improvement of standard of living of the people and they will become certain about affording a mere smart phone. This will expand the demand of smart phones as well as apps and take this country's market share to 9.3 percent, which is well beyond the market share of many developed nations.
Increase in the number of smart phone shipments – The rank held by India in context of smart phone shipment is seventh right now and it has a global share of 2.9 percent. However, it is estimated that by 2016, this country will be ranked third and will surpass Brazil and the UK and by having a market share of around 9.3 percent. In simpler language, this means that every tenth smart phone in the world will be shipped to Indian market.
Hyperactive app developing sector - just as India gained huge acclamation in web designing and software development, it will no doubt achieve the same glory in app development as well. This country has one of the largest app development communities that is expanding rather swiftly. Most of the Indian apps development companies are offering best quality services and targeting the offshore clients. Some app development companies have mastered the niche of enterprise app development for various sectors like healthcare, education, media, banking and finance, governments and supply chain etc. It is expected that these companies will be in most demand in the future as the craze of enterprise centric apps is surmounting very quickly.
Apart from these four factors, many smaller but equally significant factors will play their role in making India, the hottest apps market. However, there is no doubt that these four factors will take this country to a new level in the mobile app world and all this is expected to happen by 2016.
The author holds a content writer post with enterprise apps development companies. The Dallas enterprise app development has created over 300 applications on major mobile platforms. It has established a name as one of the best android development companies Delhi NCR.
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