Ever since the advent of smartphones, the mobile app economy has witnessed blistering growth on the back of cutting-edge technological advances and evolving user sensibilities.
As the mobile app market enters a brief phase of consolidation; the next stage of growth will be spurred by the following technological breakthroughs:
Internet of Things (IoT)
The first wave of progression in this domain has already been spearheaded by the likes of Microsoft, Apple and Google in the “home automation” sphere. Apps that can seamlessly sync to smart devices in the attempt to monitor and control domestic power consumption that drives appliances, electric sockets, lighting, heating/cooling; will go a long way in creating a major differentiated advantage. Gradually, the IoT concept will become all-pervasive; giving businesses the opportunity to be a part of a highly connected, intuitive and user-friendly existential ecosystem. Although futuristic at many levels, IoT powered by smart devices and relevant apps will form the backbone for the next wave of technological breakthroughs.
Augmented and Virtual Reality
Users are becoming increasingly demanding about overall app experiences. This has resulted in the rise of the AR/VR industry that aims to provide more engaging, interactive and immersive user experiences. Cutting-edge mobile apps in the fashion, media, entertainment, gaming and social engagement industries would do well to identify this paradigm and engineer products and experiences accordingly. The idea must be to be a part of this undercurrent at the earliest instead of jumping on-board when this “revolution” is truly underway in order to guard against omnipresent competition and fickle user loyalty.
With a gamut of wearable devices such as watches, fitness trackers, sunglasses, jewellery and sensor-embedded shoes and apparel; the smart wearables market is growing at a rapid rate. These devices will continue to spawn the rise of apps required to serve as a via-media between smart devices and wearables. This will spur the next-gen maturation in the app health, fitness, sports, apparel and travel industries.
Bluetooth Low Energy Driven Beacons
The likes of Apple’s iBeacon and Google’s Eddystone will continue to encourage the growth of new apps that tap into this technology. These beacons use Bluetooth’s low energy proximity sensing to determine users’ physical location to trigger contextual messaging and engagement through avenues like push notification. This is helpful for apps in the domains of mobile payments, e-commerce, social media, entertainment and ticketing.
With a plethora of payment wallets at the disposal of the app user; mobile commerce will continue to gain traction as online purchase transactions continue to compete against traditional forms of payment in a digital economy. Coupled with the proliferation of smart wearables; it creates the opportunity for existing and potential apps to tap into a nascent app ecosystem ripe for innovation. By embedding greater convenience and utility on the back of ever-improving physical and virtual infrastructure; apps can develop lucrative businesses by optimally targeting high Lifetime Value users.
Data-Driven Marketing Platforms
Creating, promoting and delivering next-gen mobile apps part of an integrated and interdependent user ecosystem is one thing; but apps have to measure performance so as to continuously improve their product. This is where intuitive app analytics platforms that offer live-user segmentation, real-time behavioural data insights and usage trends come in to play. Actionable business intelligence can go a long way in optimising app performance and eventually; developing robust user engagement strategies. User acquisition is not the end of the road. By leveraging the power and value of data analytics; apps can drive user engagement, monetization, retention, satisfaction and loyalty.
In essence, the mobile app market has to grow hand-in-glove with the frenetic pace at which technology continues to advance. This needs to be viewed more as an opportunity to cater to latent needs rather than a stumbling block that hampers growth. Innovation on the back of better understanding one’s target user base whilst keeping a firm eye on competition will help apps unleash the next wave of disruptive growth.
Updated Date: Nov 09, 2017 20:18 PM