Competition for top app developers
Apple (AAPL) has turned to India in its efforts to groom the next generation of app developers. The company has introduced coding programs in Indian schools and colleges, according to a report by the Economic Times. Bringing coding lessons to schools and colleges allows Apple to groom app developers in India from an early stage, which could give it a head start in attracting top developer talents to its platform.
As selling mobile apps has become a lucrative business, Apple, Google (GOOGL), and Microsoft (MSFT) are constantly competing to attract top app developers to their iOS, Android, and Windows platforms, respectively.
$311.2 billion up for grabs in global app market
The global mobile app market was valued at $108.4 billion in 2016 and is forecast to grow to $311.2 billion by 2023, according to Allied Market Research. This is the revenue opportunity Apple is pursuing as it goes out to groom the next generation of app developers. Apple generated $47 billion in app sales in 2018 compared to Google’s $25 billion, according to Sensor Tower estimates. Apple’s app business is projected to grow to $96 billion by 2023 compared to Google’s $60 billion.
The rise of enterprise mobility, where mobile devices are used for business purposes, is fueling growth in the mobile apps market. Apple is working with IBM (IBM), SAP SE (SAP), Adobe (ADBE), and other business software companies to create business apps that can be used with its mobile devices such as the iPhone and iPad.