The global mobile application development market is quickly growing. It is expected to reach a value of $14 billion by the end of 2023 with an outstanding CAGR of 22%. A number of reports from the industry are projecting at the constant and strong growth throughout the estimated period.
The report published by the Market Research Future describes the actual value of the global mobile application development market. According to the report, a group of products and services are allowing to develop the mobile application. The group includes building, testing and deploying the mobile application on tablets and smartphones.
Several companies and businesses are building their own mobile applications to develop their operations. The features included in third party mobile application development platform include tools for an application programming interface. Several mobile application development platforms are doing complex operations easily and are providing the designing of mobile applications, IT solutions, and mobile backend-as-a-service. People in large numbers are learning the code to develop mobile applications to fulfill the demand of customers.
The mobile application development platforms have the potential to grow at a significant pace by the advent of cloud-based technology. In addition, the number of commercial mobile devices are benefiting the market a lot. People are relying on mobile apps for any activity they do in daily life. The demand for mobile applications is continuously increasing across the world in different industries. All these factors are hinting at the excellent growth of the global mobile application development market.
Hong Kong Helps SME Business Worldwide To Survive After Post-Covid
With businesses being forced to close in response to the global pandemic, it has placed significant pressure on their survival. However, as borders close and COVID-19 reshapes the business landscape, many organizations are moving online, leading to an e-commerce boom. This has seen Hong Kong significantly benefit from these changing practices.
Since the outbreak began, there has been a large number of inquiries from companies looking to register theirbusiness online. Many people are now looking to open e-commerce businesses, with drop shipping allowing them to resell almost any product globally.
While Covid was first discovered from China, China has become the first to recover from the Pandemic. Many factories now have an abundance of products ready for shipping, giving companies the chance to buy at a very cheap rate and immediately start selling items on their e-commerce store.
During an interview with Brian Yiu, acompany formation specialist at Get Started HK, he mentioned that “Hong Kong has become a popular place for e-commerce. Many choose to register their companies in Hong Kong, so they can enjoy a better rate and margins when dealing with Asianpartners.”
In fact, the pandemic has given many entrepreneurs a big lesson. Once a city is under lockdown, businesses are forced to close. We should never put all eggs in one basket again.We must look into the Asian market and secure a reliable reserve back up supply chain. We should also target global clients and create additional sources of income.
In the post Covid-19 world, face-to-face contacts are no longer necessary for business. Online business will become the new norm. As the world begins to move back to normal and lockdowns ease, Hong Kong is in a unique position to be the epicenter for a re-globalization effect. More business will go online, and Hong Kong will probably attract more foreign SME businesses due to its strategic location. The city is likely to become the top e-commerce business hub in Asia sooner or later.
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