On the eve of Christmas in 2017, consumer spent $150 million on apps, in-app purchases and by subscribing on the App Store and Google Play – Sensor Tower
There was a significant rise of 12.3% over last year’s spending of approximately $174 million. This shows that the mobile app market is growing everyday, as more and more companies are mobilizing their workforce.
Here are 5 trends that will change the way we see the mobile app development in 2018:
Mobile Wallets and Micro transactions
According to Juniper Research, 1.5 billion mobile wallets were used around the globe last year, and this would surely grow in 2018
The mobile wallet is undoubtedly the future trend, as more and more users will surely use their mobile phones to make daily payments due to decreasing interest of carrying hard cash with them. So if you are not ready with the mobile payment option, now is the time to make the move.
Beside this, Microtransactions are also to look up to, as people are getting used to pay money for the games that they play, For example, users do not mind to spend $2 to spin the wheel early, rather than waiting for a day. We can expect to see more of this in a wide variety of apps, not just games.
A focus on Security
This year, two big giants, both Apple and Google are planning to make security their first priority. This will surely be a huge push towards security. . It will be crucial, particularly concerning mobile payments, mobile banking, emails and the list goes on. Thus, it is very important that mobile security is considered right at the beginning of development with code encryption, secure back-end and reputed payment gateway. This means that you should now test your app in every manner before releasing it on the app store.
Chatbots & Artificial Intelligence
AI Chatbots are making their mark in mobile apps as big companies such as Amazon have used AI in mobile apps and proved everyone wrong by being a huge success. Few years back, developing an AI into mobile apps would have been extremely costly and difficult. But today, tables have turned as developing an AI is less expensive and one can also incorporate Google services or Amazon services that use AI to achieve their goals and objectives that would have been possible few years ago. Thus, 2018 will be the year of the enterprise Chatbots.
Even users search for more easy and effortless interaction with brands and they now expect communication channels to be 24/7. They want accessibility and availability when it comes to interacting with a company. 52% consumers prefer to interact with businesses via a messaging app rather than over the phone or in person. These changing user demands will encourage enterprises to implement human-machine communications that are both efficient and accurate to meet these demands. This year, we can expect Chatbots to be more intelligent with possibility of even responding to voice commands. As Chatbots, APIs became more advance, security is the thing which should be a priority.
A recent Gartner study even revealed that every mobile app will incorporate AI to some degree within the next few years. Companies are quickly investing in AI with billions of dollars spent on AI acquisition over the past year.
Virtual & Augmented Reality
In this world of technology where experiential retail is becoming more important, there are many ways AR and VR can enhance the way customer interact, navigate and shop.
We’ll see more companies use AI to help visualize a product in their own home. A few examples include Ikea and Wayfair, helping customers visualize furniture in their own home. The popularity of AR is increasing everyday as it is simple and it can be used practically on any Smartphone device. These are just the earliest attempts at a new technology that may eventually become mainstream. Back in 2014, Google unveiled Google Glass and although consumers weren’t ready for such an innovative product, it seems that 2018 may be the year. Several months ago, Google revealed Google Glass Enterprise Edition (GGEE) that has been in the works for two years. This time, Google offers new opportunities to solve business problems. This signals a tipping point towards the wide adoption of AR wearable
A Forrester Research report affirms that millions of enterprise smart glasses will ship by 2025.
Surge of IoT
Analysis predicts the future of IoT is quite bright as it will grow $150 billion in 2016 to $700 billion by 2021. Beside this, IoT apps will also surge with home technologies making homes more interactive. The devices will not tell us what to do instead of waiting to be told. Many researchers believe that IoT will become “ The Backbone” of customer value.
However, instead of explosive growth, this year will be about steady growth. Currently, companies are struggling with fragmentation and security issues that will need to be addressed this year. The retail, healthcare, and supply chain industries will experience the most growth with IoT: Retailers are taking advantage of the ability to interact with their customers in personal ways, the healthcare sector is using wearable devices, and supply chains are tracking products in factories. The future of IoT looks very promising and 2018 will show a positive trajectory as companies realize the full potential of IoT.
Thus, the overall picture clearly shows us that the mobile app space is rapidly changing and as technology continues to evolve, it’s increasingly important for companies to stay ahead and maintain a competitive edge
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