The mobile eCommerce industry and the app economy have each been rising exponentially within the mobile market over the last few years, and they show no sign of slowing down anytime soon. The mobile economy beyond 2016 is expected to keep booming and creating very lucrative fields.

As app developers become more adept at understanding the importance of focusing on mobile monetization strategies and businesses continue to fine-tune the eCommerce aspects of their apps to better suit mobile users, the mobile economy will continue to grow without a doubt.

Room for Growth in eCommerce Market

As it stands, growth in the mobile eCommerce market is being stalled in most cases by mobile usability issues on the retailer’s end – it has nothing to do with consumer willingness to shop via mobile. They’re more than ready to do that, but they need to wait for more innovative infrastructures to come along that can keep pace with the technological advancements and developments being made in the mobile sector. 

Tablets, smartphones, and other mobile devices have become all but indispensable to millennials. Most people today own at least one mobile device, which they use for everything from business to social media to health and shopping. Actually, most mobile device owners love to shop from their devices. It’s much faster, easier and more convenient than spending the day out wandering from shop to shop.

Groceries, clothing, and every other item a person would shop for are all available online now, but there is plenty of room for growth within the eCommerce market. This growth is dependent upon the improvement of shopping apps. App users are smart shoppers, and a large majority of them have made it clear that they will not make purchases through apps that are difficult to navigate, slow, or ones that have bugs. They have also concluded that if a shopping app fails on the first use, they would not use it again.

This puts a lot of pressure on retailers to make upgrades and shift their platforms to more advanced ones, and it is up to app developers to provide the advanced platforms that retailers require.

The App Economy is Booming

The app economy is the backbone of mobile eCommerce. The good news for anyone who works in the app economy it’s booming and only projected to grow. In fact, with plenty of room for new upgrades and innovative ideas, it’s projected to double in size by 2020.

So far, games have been dominating the app industry, making up 85 percent of the market’s revenue in 2015. While this number is projected to climb throughout 2016 and into 2020, mobile apps for every industry, from retail and health to banking and government industries, will be rising even faster. The overall app economy projections for 2020 total more than $100 billion in sales. These numbers will be driven as more and more people around the world begin using smartphones, which will give everyone in the industry – from developers to investors, brands and app agencies – access to some exciting new global opportunities.

Exciting Years Ahead

The mobile technology predictions for 2016 were focused on building up native in-app advertising, creating more personalized technology and discovering new ways to use smartphones and other mobile devices. So far, these are exactly the areas that developers and other people in the industry have been focusing. There is plenty of room for growth and new ideas, and there are plenty of open roads that haven’t been explored yet. The mobile economy beyond 2016 is one filled with exciting opportunities for expansion, innovation and evolution.