Keeping an eye out for the latest trends and projections serves not only as a competitive advantage but also as a tactical necessity. The mobile app industry keeps on blooming and associates itself with an ever-increasing exponential rise. According to Statista, the total app market revenue as of this year has reached $467.10 bn. With an annual growth rate of (CAGR 2022-2027) 9.59%, the projected market value of apps is US $673.80 bn by 2027. 

This implies that the app industry trends and innovations are not going anywhere for a while and are here to stay. As a result, it is of utmost importance that business owners recognize these trends and the ones that will prevail in the future but first, let’s dive into the current technological scenario around the world.

Current Technological Landscape

With potential evolution in the future, 2023 has been a decent year for technology and apps. Many breakthrough developments have resulted in major changes in the app industry. Some of the instances of these developments were discovered in the following fields:

• Artificial Intelligence and Machine Learning (AI/ML)
• Augmented Reality and Virtual Reality (AR/VR)
• 5G Technology
• Internet of Things (IoT)
• Blockchain

Let’s understand specifically what these innovations mean for the app development industry and technology in the future.

Key technological trends influencing app development

1. AI and ML

According to the McKinsey global survey, it has been the year of AI as it was one of the major technologies that stormed almost every industry utilizing technology. One-third of the survey’s recipients believe that Artificial Intelligence has been used in at least one business function regularly in 2023. 

Machine learning is considered the heart of AI & ML technologies and has seen incredible progress in 2023. It has progressed from just pattern recognition to interpreting and executing informed decisions that require minimal human engagement. Machine learning has shown commendable progress in areas such as healthcare, finance, transportation, and cybersecurity due to features like high-quality, large-scale datasets that are integrated with advanced algorithms. Due to such algorithms, machine learning was implemented in multiple sectors around the world. 

2. Augmented Reality and Virtual Reality (AR/VR)

AR and VR technologies will be game-changing for the world of technology in 2023. Whether it was Ikea offering people a peek at how would the furniture look in their homes digitally, L’Oreal’s virtual makeup app providing users with virtual images of how the makeup would look on their faces, or Lenskart lending users the virtual look of the glasses before buying them, AR and VR were used extensively by multiple brands and industries in 2023. 

The market is estimated to grow at an annual rate of 12.60% (2023-2028) which results in an anticipated market value of US $58.1 bn by 2028. This indicates that both AR and VR are not just single-year wonders but also here to stay for many years to come.

3. 5G Technology

The global deployment of 5G in 2019 set the stage, but it is this year that its transformative impact has resonated across major industries reliant on high-speed internet. Technology companies are now scaling up the implementation of 5G technologies, and a plethora of 5G-critical devices are making their mark in the market. The ripple effect is discernible across diverse sectors including finance, healthcare, agriculture, automotive, education, and entertainment. The pervasive influence of 5G is not just about faster connectivity; it’s a catalyst for innovation, revolutionizing how industries operate and paving the way for a new era of seamless, high-performance connectivity across the globe.

As of 2023, there are about 1.9 billion 5G subscriptions which implies it has impacted the majority of industries around the world.

4. Internet of Things (IoT)

IoT helps to keep the world around us digital. This has certainly been true for the year 2023 as the world saw IoT take over multiple third-party software and make it easily accessible to users. IoT excelled in areas like healthcare, security, wearable technology, manufacturing, edge computing, and other trends as well.

Security measures have become smarter and more adaptive, thanks to IoT innovations. Wearable technology has evolved into a personalized IoT ecosystem, transforming the way we interact with data. In manufacturing, IoT streamlines operations, and the advent of edge computing marks a paradigm shift in data processing. This dynamic landscape is emblematic of IoT’s pervasive impact, shaping a digitally empowered world. 

5. Blockchain

Blockchain has opened up the floodgates to a whole new world of possibilities on both economic as well as business levels. All this is possible due to the security and privacy-enhancing features it offers. Sources show that by 2027, the blockchain market will reach US $99.37 bn at a compound annual growth rate of 55%.

The soaring projections underscore the widespread acknowledgment of blockchain’s potential. Its capacity to redefine trust, enhance security, and streamline operations positions it not merely as a technology but as a transformative force driving innovation and reshaping the very foundations of economic and business paradigms. As industries increasingly recognize its value proposition, the journey of blockchain unfolds as a narrative of profound change, promising a future where trust is decentralized, security is paramount, and possibilities are boundless.

Future Mobile App Development Trends For 2024

Being the foundation for further growth of mobile app technologies this year, multiple app development trends could shine even brighter in the app industry next year. Some of these future-shaping trends are mentioned below:

1. 5G Technology

Ever since 2019, 5G technology has been the talk of the town. However, due to the technological boost seen this year, it is highly estimated that 5G will go mainstream next year too. However, what does the rise of 5G mean for app development? It will certainly change the way apps are made with improved speed and efficiency. Some of the things we can expect are:

• It is estimated to be 100x faster than 4G.
• Latency is expected to curtail from 50 milliseconds to 1 millisecond
• More efficient video streaming due to low latency, high speed, and higher resolution.
• AR and VR integration of 5G will result in more opportunities for such technologies.
• Quicker and smoother transference of data.
• Convenience for developers to build better mobile features without compromising app performance.
• Due to quicker biometric data processing, mobile app transactions will be faster as well.

As a result, these technologies will allow more smoothness and efficiency of mobile apps. It will help in boosting creativity. 

2. Apps to Develop for Foldable Devices

Even though foldable devices are not mainstream in the smartphone market, they will soon revolutionize the smartphone market. This is why the time right now is better than any other to develop a mobile app development strategy for foldable devices. Make sure to develop apps to function seamlessly. There are multiple benefits for the users from a device with a larger screen due to foldable devices:

• Much more immersive and detailed experience for the user.
• Due to multi-windows, the user can multitask effortlessly.

Such a device is perfect for video streaming and gaming apps due to the increase in screen size that offers them additional space to command instructions and controls. As a result, such apps can revolutionize a much-unexplored market in 2024.

3. Wearable apps integration

The total number of wearable devices ranging from 2019-2022 increased nominally. In 2022, the stats reached 1.1 billion from the previously recorded 929 million a year ago. Source: Statista There were multiple innovations for wearables this year. Apple introduced the WatchOS 8 update. Some of its features include new watch faces, enhanced wallet access, and refurbished interfaces for Apple watch users. 

Google, on the other hand, introduced a unified wearables platform that integrates its wearables apps for OS with Samsung’s Tizen software platform increasing the app’s startup duration by 30%.

Such instances incentivize the rise of wearables technology which is going to be one of the most crucial trends of the app industry in 2024. 

4. Quantum Computing 

If you do not know what Quantum Computing is, hear us out. Normal computers deal with information in 0 and 1 which limits their capability of handling complex problems. Quantum computers, on the other hand, can exist in a multidimensional state dealing with complex problems much more conveniently. 

Although it was the year of Gen AI in 2023, the next one can see some major strides in the field of quantum computation as it champions being the next generation of computational power. This is because it can perform complex tasks more quickly requiring less energy making it an ideal  trend for 2024. Some of the areas where quantum computing can aid in are:

• The financial sector will handle better modeling of the behavior of investments as well as security through quantum computing. This will also help in identifying unrecognized patterns and trends in the global financial market and economy. 

• Privacy and encryption worlds might completely change the dynamic of cybersecurity around the world through quantum computing. Due to the highly dynamic and evolving nature of cybersecurity, quantum computers will manage encrypted data while still utilizing it, offering both in-transit and at-rest security.

• Supply chain logistics and transportation will gain an imminent buff through quantum computing. The issue arises when normal computers are unable to account for changing weather data coupled with the traffic flow, however, quantum computers can easily manage to do so. They not only can process all the data in real-time but also manage routes of multiple vehicles at once. 

5. Metaverse and Social Interaction

One of the best instances of Extended Reality (XR), Metaverse is a virtual world that allows people to explore, interact, and create with each other. This world blurs the boundaries between physical and virtual worlds and is an integration of both. Established just two years ago, this industry has undergone remarkable growth since its inception. What began as a burgeoning market has now transformed into an impressive and substantial force in the industry.

Below are some futuristic and good app ideas that can revolutionize the business sector around the world next year through Metaverse.

• It can do wonders in the real estate market as it offers virtual land to its users. Entrepreneurs can leverage such a market by developing virtual landscapes, immersive experiences, and interactive spaces for both creators and businessmen so they can explore and gather business ideas together.

• 2024, can see the rise of the virtual fashion and accessories market which is at its budding stage of establishment. It will become a rather lucrative business for many entrepreneurs and business people around the world. Designers will be able to showcase their creativity and unique style in the virtual realm selling accessories, clothing, and other ornaments. 

• When it comes to businesses, the virtual advertising and marketing industry will see a much better market to capitalize on. Creative agencies will advocate developing immersive and virtual ad campaigns, influencer marketing strategies, and brand experiences for all its users. 

6. Mobile Learning 

There are multiple benefits of mobile learning. One of the salient reasons is that it makes learning easily accessible. Learners feel confident as they can access information and learn from anywhere at any time. Other experiences such as 360-degree learning and continuous feedback have made learning more engaging and interactive. 

Institutions and enterprises are starting to indulge in mobile learning as it results in better course completion rates, quicker learning, better engagement, and more knowledge retention rates. As a result, the demand for mobile learning apps is at an all-time high. 

This paradigm shift has prompted institutions and enterprises to actively embrace mobile learning. The outcomes speak for themselves — improved course completion rates, accelerated learning processes, heightened engagement levels, and enhanced knowledge retention rates. As a result, the demand for mobile learning is currently at an all-time high, signifying a transformative trend in education that shows no signs of slowing down. The flexibility and effectiveness of mobile learning are reshaping how knowledge is acquired and applied, ushering in a new era of accessible and dynamic education.

Conclusion

As we draw the curtains and embark on a journey to the next, it is better to enter the big stage prepared with these mobile app development trends. Regardless of the trends, one thing stands atop everything else, the digital landscape is ever-evolving and improving. These are not just once-a-season ideas for an app but the building blocks of the future of technology itself. 

In addition to the future application ideas and trends of 2024, we also need to be aware of the various complications and ethical issues surrounding them. This will provide you with enough insights if the idea can be executed reasonably or is no good in the long-term business strategy.

Frequently Asked Questions (FAQ)

1. What distinguishes mobile app trends of 2024 from the previous years?

Mobile app trends will take a quantum leap next year when it comes to innovation and solutions. Some of the future trends to keep an eye out for are 5G technology, Quantum Computing, Augmented Reality, Extended Reality, Mobile Learning, and IoT. 

2. How will ethics concerns be tackled in AI-driven apps next year?

Ethical concerns will take center stage in 2024 when it comes to AI-powered apps. There will be implementations of advanced frameworks such as bias-detection algorithms as well as transparent decision-making processes for a better user experience. 

3. Can you provide a few examples of eco-friendly lifestyle apps?

Eco-friendly lifestyle apps help their users make sustainable choices and also promote them. Some of the instances of such apps are JouleBug, Olio, and Ecosia. These apps help users in tracking their carbon footprint, engage in conscious shopping, and implement sustainable living practices. 

4. How do apps contribute to the healthcare revolution?

Apps play quite an important role in the healthcare revolution around the world. Health-monitoring apps offer real-time data about the patient’s well-being, and telemedicine platforms simplify online consultations. 

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