What is Driving the Mobile Application Market?

Everywhere you look you can often find someone who is looking down at their phone. It seems like these handheld technological powerhouses have taken over our lives. Whether it be the convenience of ordering a pizza without having to leave your home, having access to practically every song ever written, or the dopamine rush from getting over one hundred “likes” on your most recent Instagram post, there are so many conveniences, features, and most importantly, applications that make a mobile phone so enticing.

Gartner estimates that the market for mobile applications is expected to hit $311.25 billion by 2023 and is to achieve this through a staggering compound annual growth rate of 19.2%[1]. This hyper-growth means that there are plenty of opportunities for businesses to capitalize and profit, though the most successful will do so in a way that also benefits the consumer.

About beQ

With over 89% of adults owning a smartphone, mobile device time on the rise, and 35% of consumers touting that the mobile phone will become their main purchasing tool, understanding the preferences of users is increasingly more important[2]. Among many other things, beQ allows the users to see hyper-specific geo-targeted advertisements through their indoor mapping technology. This allows users to see what is relevant to them and provide them with something of actual value. The perfect solution for the mobile generation.


[1] Allied Market Research. “Mobile Application Market to Garner $311.25 Billion, Globally, By 2023 at 19.2% CAGR, Says Allied Market Research.” Prnewswire.Com, 7 Feb. 2019, www.prnewswire.com/news-releases/mobile-application-market-to-garner-311-25-billion-globally-by-2023-at-19-2-cagr-says-allied-market-research-300791615.html. Accessed 2 Oct. 2019.

[2] “How to Market to Customers with Mobile Messaging.” Smarter With Gartner, https://www.gartner.com/smarterwithgartner/how-to-market-to-customers-with-mobile-messaging/.

[2] Ibid, 2017.


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Kiran Malik is Moonwhale's latest addition to the team.

Kiran first entered the blockchain space in 2016. He realized the potential of the industry and it quickly became his focus both academically and professionally. While finishing up at the Richard Ivey School of Business, he held positions at MLG Blockchain Consulting where he analyzed ICOs and conducting research. Kiran was also a member of Ivey Fintech Consulting working with cryptocurrency-related companies. Lastly, he was with Toronto-based venture capital firm, Gilga Capital, providing financing for blockchain projects. Kiran has earned his CBP (certified bitcoin professional) designation from the C4 cryptocurrency consortium and is an avid trader.

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