DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/46bxkw/global) has announced the addition of the "Global Application Store Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Application Store market to grow at a CAGR of 32.83 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing penetration of broadband. The Global Application Store market has also been witnessing increasing acceptance of mobile advertisements. However, the unavailability of high-speed broadband could pose a challenge to the growth of this market.
The key vendors dominating this market space are Apple Inc., Google Inc., Research In Motion Ltd., and Nokia Corp.
The other vendors mentioned in the report are Microsoft Corp., Amazon.com Inc., and Samsung Electronics Co. Ltd.
Commenting on the report, an analyst from TechNavio's Telecom team said: Mobile entertainment includes gaming, browsing, and watching videos on a mobile phone. Since the priorities of consumers change, their way of life also changes. Taking this into consideration, application developers have developed applications that provide entertainment. In the present scenario, people have to travel more for business purposes, and hence the time for entertainment is limited. Therefore, the adoption of applications for entertainment is increasing. For instance, the mobile gaming application Angry Birds is highly used by smartphone users worldwide. Additionally, mobile television is becoming popular among end-users.
According to the report, one of the major drivers is the increasing adoption of mobile broadband. As mobile broadband is necessary to download and use mobile applications, its availability will encourage end-users to download applications and improve the functionalities of their mobile devices.
Further, the report discusses that two of the major challenges in the market are the availability of free applications and the increase in piracy.
For more information visit http://www.researchandmarkets.com/research/46bxkw/global