Mobile Applications Industry - Research Paper Example

It is essential to highlight, however, that the industry has considerable capacity for new products. This occurs as players observe loopholes. In this sense, consumers can possess a wide ray of mobile applications, performing different functions, on their phones. In this sense, the GPS application should be capable of numerous roles in order to satisfy the customers. In addition, it requires the convenience of access and easy terms of use that does not make it possible for customers to switch to other alternative products.

In terms of horizontal scanning analysis, the Developer Economics researchers report that the mobile applications’ industry has grown into a huge entity thereby having a worth of $ 67 billion in 2013 (Pappas 2014, p. 1). The research site predicted that the industry would double its size by 2016. The success stories of wide-stretching consumers apps such as WhatsApp are a great influence (Goggin & Hjorth 2014, p. 13). It is crucial, however, to highlight that a communication platform shares a greater potential in the market than a travel product.

This is because communication is an everyday experience. Big players such as Apple Inc. possess the strategy of having in-built applications. This deters the success of other companies that deal entirely with mobile applications. There are notable opportunities and threats in the mobile application industry. In terms of opportunities, it is crucial to highlight that the industry has the advantage of fitting in every area of life. In a consumers’ market that is increasingly demanding convenience, mobile applications are the easiest way of initiating such a feat.

The GPS mobile application, for instance, eases the idea of regular travel. In close relation to this point, mobile applications’ companies can satisfy the mini functions of mobile phones. For instance, the WhatsApp Company only utilized a given facet of communication, texting. There are opportunities in a collaboration that the mobile apps’ companies can utilize. These collaborations occur either vertically or horizontally. Mobile apps are unique products since they do not require significant physical resources to build (Zackariasson & Wilson 2012, p. 36). They majorly face the cost of marketing their products.

In this view, collaboration with mobile phone companies and social networking entities may help eliminate the huge cost of marketing. In addition, it eases the marketing of products through already established companies. Mobile applications also face major opportunities in physical industries such as agriculture and manufacturing (Lee 2013, p. 128). More essentially, mobile applications face the prospects of improving banking services. There are, however, notable threats to these products. To begin with, the mobile applications’ industry is highly likely to the most dynamic industry.

This means certain products may be faced out by trends applications in the long run.