Mobile applications have become an inseparable part of our lives. From food to entertainment, health, education, finance, dating, shopping, and many more, people are using mobile applications for everything.
Why?
More than 70% of the people own smartphones and they prefer to perform a particular task using mobile phones. According to the statistics, people don't like to use their computers or laptops to search for anything. Users take out phones from their pockets and search things in just a matter of seconds.
This is the reason why mobile app development is in demand. Though mobile apps are a proven way to get more users, not all the apps are revenue-generating. If you want to develop an app that will generate maximum revenue, do proper research first!
Here is a list of top revenue-generating mobile app categories.
Top Revenue Generating Mobile Applications
Social Media Mobile Apps
No one can deny the fact that social media has become an essential piece of business marketing strategy. Facebook, alone has more than 1 billion active users that show how much a single campaign on this platform can impact your business. This is why social media apps are becoming highly popular these days.
These days, people have become social creatures and they spend most of their time on social apps. They love to connect with people through these platforms and won't stop communicating, no matter what. This is where social media apps come in handy as they provide users a chat interface.
Let's take an example of the most used social media app: Facebook. According to Statista, Facebooks' revenue is greater than the GDPs of some countries. Almost 2 million people in the world are always using Facebook. This app is a business shark of the social media industry. Now you know how much money a social media app can make!
Entertainment Mobile Apps
Apps built for entertainment purposes are mostly gaming-based or they contain videos. Entertainment apps such as HBO NOW, Netflix, etc. are among the top 10 and it's not surprising.
People like to download those apps which provide video content. According to the reports of Statista, traffic on the entertainment apps increases by 50% each year due to video content.
Moreover, games are also the most favorite and popular entertainment app category. The best thing about gaming apps is that they easily catch the attention of the users and easily reach thousands of daily downloads. According to research, gaming apps will always remain the leaders when it comes to audience reach and engagement.
Though the game industry now uses the "free-to-play" tags in most of the games, developers should make sure that people still enjoy the game. Games like Angry Birds, Subway Surfers, etc. are free and 100% playable.
Business & Financial Apps
Mobile apps are not only for entertainment and leisure purposes. Nowadays businesses and Fintech industries are also getting mobile applications as these apps provide a better and transparent user-experience.
Some of the most popular concepts for business applications are:
1. Online Payment Apps
Online payment apps have proved to be a blessing for us! People are paying their fees, bills, salaries, online conveniently. These apps are particularly gaining more importance these days due to the COVID-19 lockdown.
2. Enterprise Mobile Apps
Sounds like something big! An enterprise mobile application helps an organization to manage functions and tasks more efficiently. Instead of sending messages individually, people can get apps directly from your app. Moreover, it will also serve as an interactive medium between businesses and their customers.
However, do your proper research about your competitors before getting a business application. A minor mistake can mess up with your brand's growth.
Shopping Apps
Shopping or eCommerce are becoming very popular and these apps have quite a wide audience. People prefer to buy things online because going to physical stores can be time-consuming and hectic.
Due to COVID-19 lockdown, eCommerce apps are becoming even more popular and people who never bought anything online are also turning towards online shopping.
Nowadays, eCommerce apps are available where you can buy everything literally from food items to complex technical devices. These mobile apps are not just for the seller and user experience but also earn a lot of revenue.
Let's take an example of Amazon, the largest retail store in the world. It has its own mobile application that people use to buy anything. Amazon mobile apps are earning millions of dollars (< $250 million in 2019) and they are still expanding their reach to the rest of the parts of the world.
Other retail stores such as eBay, Alibaba also have their mobile applications where users can find things and easily add them to the card. These mobile phones have also proved to be useful in terms of online transparent payment.
HealthCare App
In the age of digitalization where every industry is getting mobile applications, the healthcare industry is no exception. Healthcare mobile apps are gaining a lot of importance, especially during the time of the COVID-19 pandemic.
These apps help doctors and patients to interact with each other without visiting the hospital. There are chances that healthy people might get affected if they visit hospitals. Moreover, patients who reside in far-off places and accept visit doctors in big cities can also interact with them through these mobile applications.
Here, patients can discuss their problems and doctors and give them e-prescriptions. This is both time and energy saving. Moreover, paying bills online is another plus of the healthcare mobile applications. These apps are not only beneficial for doctors and patients but also have the potential to earn revenue.
Wrapping Up:
There is a broad range of profitable development opportunities in the mobile app development industry. These are fire sure money earning apps that we have mentioned in the list. You can choose from any of these categories but do proper research of your competitors and keep in mind your business objectives when thinking of getting a mobile application.
