#covid19 Archives

The world was sucker-punched as it continues to reel from the ongoing economic paralysis of COVID-19. But fighting to keep businesses alive is not a lost cause. The impact of the pandemic on businesses has sure been merciless, but as we turn the page to a socially distant and digital reality obvious business models are presenting themselves.

Mobile app development services have the proverbial doses to inject new life in dying ventures. It is an opportune time, more so for a few app categories than others, to reassess their strategy or better, reintroduce themselves to the masses in a new nutshell.

COVID-19’s Impact on the Mobile App Economy

Approximately 1.6 trillion hours were spent on mobile apps in the first quarter of 2020. People increased their mobile usage as part of the stay home quid pro quo. And while COVID-19’s effect on the economy presents a mixed picture, the by-product results for the mobile app industry are anything but.
In April 2020, users spent 27% of the waking hours on mobile phones, an increase from 20% in 2019. The period between February and April saw impressive spikes in app downloads. Combinedly, iOS, and Android app stores recorded 12 billion downloads, up from 9.1 billion for the same slot last year.
The download spikes weren’t without cause and translated into higher consumer app spends. For H1 2020, the combined consumer purchases on the Apple Store and Google Play Store reached $50.1 billion. Of this $32.8 billion was claimed by Apple and $17.3 billion by Google Play.

But what were the people downloading and spending on exactly?

For starters, Tinder is the highest-grossing app on both the play stores raking in $433 million followed by YouTube. For the States, we get a good idea of people’s tastes during the initial part of the pandemic in the following graph. You cannot forego education, essential commodities, and work. Apparently, these were the most downloaded categories by Americans from March 2 – March 16. Such was the effect of COVID-19 on mobile apps, making now the best time to start a mobile app startup.

Impact of the Pandemic on Mobile Apps

The scale of economic uncertainty that the virus has unleashed on the planet is parallel to none in human history. It exposed the shortcomings of interdependent countries that shook to the core due to their reliance on a centralized supply chain hub, China. As trading routes were disrupted, few app categories absorbed and began relishing the rising consumer interest. They make the highlight reel of the impact of COVID-19 on mobile apps.

E-commerce Apps

Due to the mandatory stay/work from home (whichever is applicable) stance of the federal agencies, people shifted their preferences to order essential items online rather than step out. Given that the E-commerce locale constitutes multiple categories, the ones that made the priority list of people were food, hygiene products, clothing, and medications. This is evident from a survey in which 52% of Americans admitted to shopping more online due to COVID-19 restrictions.

Another survey revealed the itinerary checklist of items that more and more people have opted to order online.

The impact of the pandemic on mobile app development has been such that we experienced a surge in requests to develop MVPs for eCommerce vendors. Some aim to diversify by launching newer subsidiaries, others taking their first steps in the field. It was recorded that global eCommerce sales at the height of the lockdowns hit 66% and that has now flattened at 7% above last year’s sales levels for the same time. In keeping with such forecasts, we think the demand for such apps will continue to rise.

Fitness Apps

Forced to put up at home, people are conscious of the role a healthy body plays in hosting a complimenting mind. There were about 656 million health & fitness app downloads in August 2020 making the total downloads for Q2 47% higher than the same time last year. Strava was the highest gainer with 179.2 million downloads within the first 5 months of 2020. The bottom line is that even couch potatoes are acknowledging the benefits of boosting immunity be it through a robust exterior or vis-a-vis a diet planning and monitoring app.

As a result of the impact of coronavirus on mobile apps development, the health & fitness apps marketplace is expected to grow at a CAGR of 21.30% from 2020 – 2027.

Our 600+ team (also working from home) has immense insight into developing healthcare apps such as Soniphi, Mutelcor, and Health-e-People. No matter the impact of COVID-19 on mobile apps development, we know exactly what on-demand e-commerce solutions need especially in times like these.

Messaging Apps

One of the immediate COVID-19 effects on mobile, or rather the impact of it shall we, is that people want to stay connected. And that can happen either through video (more on it later) or messages. Yes, we already have messenger apps like Facebook and WhatsApp, but their rate of adoption differs from one country to another. But one thing is certain until things normalize everyone will make note of maintaining online connectivity through chats.

Factoring in COVID-19, US adults will spend about 24 minutes each day on mobile messaging from 2020 – 2022. Also, considering the next big idea is just around the corner, perhaps it’s still not too late to consider entering the online chat marketplace.

Video Calling Apps

Following a flattening of the curve at many locations and the subsequent lifting of restrictions there has been an upsurge in second waves. Community transmission hasn’t been culled and the majority of people have resorted to the hope of a vaccine, an approved lot of which is expected by the end of 2020, latest. But issues in distribution will remain therefore mandating social distancing to sustain.

Offices could remain shut for a long time, a possibility that has been jumped on to by video calling apps. This impact of the pandemic on technology has been such that online meet-ups are the new normal. Whereas Zoom and Skype have been the go-to apps for businesses there are others like Houseparty and Hangouts Meet, that are designed for lighter occasions.

The video conferencing apps marketplace is expected to grow at a CAGR of 9.7% from 2020 – 2027 and possibly attain a size of $10.92 billion by the end of the forecast period. You can bifurcate the business model of the video conferencing app based on:

Conference type – service-based video conferencing, integrated, desktop, and telepresence
Deployment – Cloud, on-premises
Target Group – Small Medium Enterprises (SMEs), and large enterprises
Application – Rooms, huddles, middle room, large room

EdTech Apps

Globally, as much as 1.3 billion students were impacted by national school closures due to the virus. Considering the staggering growth rate, it’s not a secret as to why EdTech is a profitable domain.

Google Classroom topped the charts for the most downloaded app for July with 14.8 million downloads. This growth was 13.5 times higher than the same time last year. It was followed by YouTube Kids, Duolingo, Tips for File Transfer 2020, and Cake.

There are multiple ways you can differentiate your app based on the target audience. To give you an overview you, with the help of a mobile app development company like Anteelo, you can design the following types of Edtech Apps based:

Online Learning Management Systems – e.g. CenturyTech, Edmodo, Google classroom, Skooler
EdTech Apps for Smartphone Users – e.g. Ubongo, Funzi, KaiOS
Apps with Offline Accessibility – e.g. Kolibri, Rumie
Massive Online Open Courses – e.g. EdX, Udemy, Coursera
Self-directed Learning – e.g. Byju’s, Code It, Discovery Education
Mobile Reading Applications – e.g. Worldreader, StoryWeaver
Apps for Teachers for Content Creation – e.g. Buncee, Kaltura, Trello
Apps for Distance Learning – e.g. EdSurge, Brookings, Education Nation

Online Food Delivery Apps

The market for online food delivery apps reached a valuation of $107.44 billion in 2019. The impact of the pandemic on the global mobile apps market, especially its food delivery sector, has been mostly affirmative. As more people opted to order essential groceries online due to COVID-19, the market value for such apps in 2020 is projected to touch $111.32 billion. This spells a CAGR of 3.61% in one year.

But experts believe this is the lower-end of the ceiling that was adversely affected due to global economic frailties. As public spending power enters its regenerative state the CAGR would grow by 11.51% through 2023, bringing the cumulative valuation of such apps to $154.34 billion, meaning it is time for on-demand brands to start preparing for the post-COVID world.

As a top mobile app development company, we’ve had the privilege of partnering with brands like Domino’s and working closely to help them grow their business. Based on such exclusive experiences, we know which premium specifications and user tastes help brands stand out.

Bringing It to a Close

By now you would have understood that the impact of Coronavirus on the mobile economy will be far better off than the impact of the pandemic on businesses operating in the retail space. If you need (honest) suggestions on how to improve your app idea or you plan to undertake a makeover of an existing app, then do get in touch. Our experts would be happy to do their bit in your success, as they’ve done on previous occasions in taking handkerchief ideas to million-dollar valuations.

Digital business transformation constitutes the integration of digital technologies in all areas of a business. It integrates new operational processes with improved values delivered to the consumers. Did you know that by 2023, the spending on the technologies and services that enable digital transformation worldwide is expected to amount to 2.3 trillion U.S. dollars?The above-shown statists will help you understand the global digital transformation market revenue from 2017 to 2023. By inculcating a digital business transformation strategy, you will experience a cultural shift towards more agile and intelligent ways of doing business, powered by technologies such as advanced data analytics and artificial intelligence. Digital transformation for business growth in the current landscape is more a matter of necessity than a matter of choice!

How Are Businesses Going To Function Post Covid-19?

There is no denying the fact that the current pandemic has drastically affected the way an organization works. Let’s pay attention to the current truth of the business world, shall we?

Increasing operational efficiency and transforming the existing business are the most important business initiatives
63% of organizations believe that delivering excellent customer experience as measured by customer satisfaction scores defines success as a digital-first business
Improving customer experience and increasing cybersecurity are also essential initiatives considering the pandemic

Can Digital Technology In Business Help in Cutting Unnecessary Expenses?

If you want to keep your budget in control then without any doubt your biggest ally is technology! Digital business transformation solutions as a whole cover three major sectors – operation, strategy, and management. In the operations sector, one can start with processing data in the cloud, digitizing business processes and documents, and optimizing processes.

Digital transformation strategy changes the way business functions by focusing more on customer experience and needs. In the aspect of management, it revamps the entire business model of a company further taking advantage of the commercial and productive opportunities created by the current digital trends.

How digital maturity drives revenue?

If you completely understand the importance of digital transformation in business then you know how investing in technology can lead to higher revenue by providing your consumers the well-deserved value. A pattern that held true across all industries was that higher-digitally mature companies in this year’s sample were about three times more likely than lower-digitally mature companies to report annual net revenue growth and net profit margins significantly above their industry average.

7 Benefits Of Digital Transformation In Business

1. Revenue growth

Companies that implement the digital transformation business model see an improvement in their efficiency and profits. Let’s talk numbers!

80% of organizations that have completed the digital transformation report increased profits.
85% say they have increased their market share.
On average, leaders expect 23% higher revenue growth than competitors.

2. Increased efficiency

Software development companies open up the possibilities of what is working fine and what can be improved. Constant efforts are being made towards reducing the time of execution.

With the help of digital tools, companies can not only see efficiency in their workflows but also in their supply chain by integrating those tools at each stage of development of a service or product delivery. This process can be as simple as tweaking an existing process by including a digital checkpoint or as advanced as automating a process and remote monitoring the output at each stage via IoT devices.

The traditional ranges of productivity and efficiency have now indicated an increased possibility of cost improvements to about 25%. Not only this but incorporating practices like remote monitoring, robotization, and optimizing the entire workflow improves the labor costs in percentages above 60%.

3. Increased consumer satisfaction

DT drives customer experience towards ultimate brand resonance. This is not a secret anymore. Businesses across numerous sectors are using digital platforms for gaining insights into customers’ needs, using technologies to communicate directly with their customers, and inherently transforming customers’ touchpoints.

Here are some of the ground-level ways that digital transformation solutions entail for their consumers:

Personalizing the customer journey
Seamless omni-channel presence
Embracing automation to keep customers updated.

We simply cannot deny the fact that organizations that are able to leverage design thinking into their current structure will see a significant advantage in customer experience!

4. Improved data collection and analysis

Data collection and analytics have opened up new windows for digital businesses. Data analytics tools make it easier to collect and analyze customer data and further result in making informed decisions. Data can be securely hosted on a cloud-based system, which will further allow you to save up to 50% when compared to traditional data management systems. It is one of the best ways to enhance your strategies by studying the online habits of your target audience.

5. Increased flexibility and scalability

The impact of digitalization on business is such that it allows you to explore scalable alternatives. It breaks you free from the processes that come with old technology that accept manual inputs. Modern software and processes allow one to integrate various business parts, further making it more flexible. Tasks like service requests, providing support, or connecting the data can now be automated without manual intervention.

6. Enhanced reliability and reduced risks

From a technical point of view, the old technology cannot back up, maintain and protect the data of your company as well as of your customers. This will certainly make your business an easier target for cybercrime. Hence, as your organization will grow, the technology and processes have to evolve.

By upgrading to digital tools, you’ll see improvement in the efficiency and effectiveness of current risk- management approaches. Also, remember that digital risk initiatives can reduce operating costs for risk activities by 20 to 30 percent.

7. Increase agility

Business transformation makes organizations more agile. You can improve speed-to-market pace and adopt continuous improvement and continuous deployment strategies. This will not only make innovation happen fast but also increase the rate of adaptation while providing a pathway to improvement. Also, let’s not forget that business transformation consulting firms will keep you at the top of your game among your competitors.

To Sum It Up

I have listed above the reasons such as automating tasks for improved efficiency and effectiveness, enhancing customer experience, increasing flexibility, scalability of your business, and reducing risks; but the most important thing is to keep your business objective in mind!

Below listed questions like –

What do you want to achieve via digital technology that you can’t in the present scenario?
What value addition do you want for your customers to experience that your current technology and processes are not allowing?
How do you plan to collect the data and use it for your target audience?
What manual tasks can be cut off by the introduction of digital tools?
What revenue growth do you expect if you invest in new technologies and tools?

In order to start the evolution process of your company, contact a digital transformation solutions provider now to transform your business journey strategically and as smoothly as possible!

Tag: #covid19

Make COVID-19 the Springboard for Your next Mobile App Idea

COVID-19’s Impact on the Mobile App Economy