The revolutionary transition of mobile phone from just a communication device to a smart business platform was dynamic. People have become so much attached with smart devices and hundreds of thousands of applications were born and many are under the development process.
A glimpse through some of the market players shows how the growth of digital applications has influenced their businesses.
On-line marketing store eBay calls its mobile app eBay 4.0 as a significant step for the company. eBay also underlines the increase in the acceptance of mobile applications citing its 279 million app downloads globally from introducing one of the first apps for iPhone in 2008.
A search through the internet revealed higher consumer mobile application development compared to enterprise mobile apps. However, studies shows that the latter is about to explode in the coming days.
Having foreseen that, the US-based cloud services and business mobility solution provider VMware said in August that it is looking to capitalise on the $2.3 billion enterprise mobility market in India which is on the rise due to the growing mobile subscriber base in the country.
From India, Sonata Software announced its deal to acquire enterprise mobility firm Halosys, a US-based firm, which provides a single Unified Enterprise Mobile Enablement platform that enables businesses to build, manage and deploy an enterprise wide mobile applications portfolio.
Technology research and advisory firm Ovam believes that the opportunity for mobile enterprise apps to transform business processes is transforming enterprise mobility management software market into a widely adopted, mainstream IT proposition.
Underlining the statement, Axis Bank launched LIME, a mobile phone application offering wallet, shopping, payments and banking facilities.
“Customer preferences are changing rapidly and technology is transforming the way these preferences are being met. Our effort has been to constantly innovate through the use of smart technology to meet these evolving needs. LIME is the next big step in this journey,” Axis Bank MD and CEO Shikha Sharma explained.
“Given the boom in smart phone ownership across India, people are interacting with their banks digitally. LIME is an integrated mobile app that offers high customer engagement through new digital and financial behaviors,” said Axis Bank retail banking head Rajiv Anand.
Enterprise industry growth to move on
Facts and figures from market researchers show the app industry growth will continue in the coming years.
IDC’s Enterprise Application Forecast said the enterprise application market is likely to grow at a rapid pace during the period 2015-2019. The compound annual growth rate is seen at 6.6 percent and the market is expected to reach $201.7 billion by 2019.
The think-tank’s enterprise applications and digital commerce research director Christine Dover believes that the bulk of the applications for engineering, operations and manufacturing, and supply chain management remain on-premises, but a movement towards the cloud-based applications is starting to be seen.
Research agency Gartner expects worldwide enterprise application spending to grow 7.5 percent to $149.9 billion in 2015. It is expected to increase to more than $201 billion in 2019.
According to the agency, the long-term growth in spending will be driven primarily by modernization, functional expansion and digital transformation projects.