Computers & Technology

What are the top mobile app development domains that generated maximum revenues in 2017?

What are the top mobile app development domains that generated maximum revenues in the year 2017?

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Mobile app development has progresses further in the year 2017 while generating unexpected revenues in the year 2017. The majority of industry experts and products/service providers have reported that a considerable increase in revenue generation has been observed in 2017 unlike previous years. Current market stats and insights clearly highlight the noticeable change that has been followed by the trend of bringing more than what today’s mobile users expect from the industry. Let us have a glimpse of what happened in the year 2017. Virtual Reality started making huge revenues. In the past couple of years, industry critics expected that Virtual Reality will soon become one of the biggest revenue generation domain in the area of mobile app development and this year brought their predictions to reality. Total revenue generated in the area of VR reached almost $12 billion in 2017 and expected to increase up to $150 billion by the end of 2020. IoT comes next in the list of highest revenue generation domains. It cannot be denied that the area of IoT has already started contributing the best to various manufacturers as well as end users in terms of brining smart features and value additions. This year IoT has just reached $200 billion and expected to reach a total of $660 billion in the near future. Next to IoT, artificial intelligence is considered to be the next big thing in the coming years. It is true that AI has also started bringing valuable contributions in terms of mobile apps and making things more easier for the mobile app users but even in such short span of time according to most of the sources and a market stats report published by an app development company in Singapore, AI ranks higher reached almost $15 billion in 2017. It is also noticed that the domain of location based technology also increased its revenue at an unexpected rate by reaching a total of $40 billion in the year 2017. While a report developed by renowned android app development company in Singapore reflected that the total number of android mobile apps resulted in generating almost $2.8 to $3.0 billion in the year 2017.

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