Increasing number of mobile apps for IoT devices

The global mobile apps market size is estimated to grow by USD 1.09 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 22.97% during the forecast period.

The demand for IoT devices is rising quickly due to their convenience, versatility, and connectivity. IoT devices connect physical objects via software and sensors over networks. This surge is fueled by their integration with smartphones through mobile apps. Smartphone shipments are projected to rise, with smartphones expected to make up over 71% of all mobile phones globally by 2022.

The increasing smartphone numbers can link with various IoT devices like watches and glasses through apps. Mobile apps enhance data recording and tracking for analysis by facilitating flexible data sharing among devices compared to web pages. Consequently, many mobile apps are integrating with IoT devices.

In February 2020, Panasonic introduced IoT-connected air conditioners, doorbells, and switches controllable via mobile apps. This trend of IoT-device integration with mobile apps is forecasted to fuel market growth.

Mobile apps simplify user tasks with technology. Developing inexpensive apps is simple, yet the surge in demand requires additional activities like admin support and maintenance, surpassing development costs. Functional services like SMS, push notifications, and email are vital.
Admin services include content management and data analytics, inflating overall costs. Hosting on compatible servers and data storage adds complexity, starting at $26,000 annually. Increasing app loads necessitate more servers, escalating costs.