The start-up world is expanding, burgeoning & prospering each year to become one of the most promising sectors of the global economy. According to the Global Startup Ecosystem Report 2019, the global start-up economy is booming and is said to have created a value of 2.8 trillion US$ between 2016-2018. This is a massive 20% rise compared to the previous term and more than two times what it was just five years ago.
Although the Start-up scene as a whole is booming, there are sectors that are growing faster.
Deep Tech such as advance manufacturing & robotics, robotics, agtech & new food, Artificial Intelligence, Big Data, and Analytics are areas in which Start-ups are flourishing more.
Pic 1: Rising Deep Tech from Startup Genome report 2019
Each year thousands of ambitious entrepreneurs start their business and many of those Start-ups are keen on making a mobile app for their business sooner or later. Now, what is the fact that can improve the sustainability of a Start-up mobile app into the market? The very primary fact which very few people research is the Time-to-Market. In one of the reports on Mobile App Development for Start-ups by pliXos it is clearly stated.
“No matter how strong your founder team is, entering market at the wrong time (e.g. without having tested the market with a rapid prototype) can lead you stuck.”
Pic 2: Technical challenges which are faced by many Start-ups (Source: App Development for Start-ups)
Why should Start-ups invest in Mobile App Development?
The Mobile App Development market is enormous and has great potential for the future. Naturally, the competition will be high. In order to remain competitive, one needs to invest in tech and software that can give companies an edge over their competitors. It is observed that most of the Start-ups fail to survive after their fourth year and reasons for many such failures are common and basic.
One of the major reasons is a rudimentary mobile app that fails to meet the customer’s requirement. Every Start-up company and many other established companies in different sectors like manufacturing, IT & services are looking forward to leveraging the power of mobile apps for adding value to their business. Hence, the bottom line is to make an effective & user-friendly mobile app.
A close look at some report by Statista & Allied Market Research throws some light on the demand of mobile app development in future
- Number of Mobile Apps available in the Google Play store in Q2 2019 is 2.46 million
- Number of Mobile Apps available in Apple Play store in Q2 2019 is 1.96 million
- 62.9% of world population use mobile phones as of 2019
- Global mobile application market to reach a mark of $311,249 million by 2023
How Mobile App Development can be a key for Start-Up success
- Spreading awareness and engaging the target audience:
A well-built mobile app can drive more customer engagements than any other online tool. Hence, it is a new tool of branding in digital world. - Mobile App Remarketing:
Based on specific behavior of target people Start-ups can increase user engagement, drive in more visitors and get more conversions. Based on activities of visitors, mobile apps can serve important data to understand customer behavior which is important for remarketing. - Innovation:
Having a mobile app for your business adds value to your existing and future customers. Thus, creating an innovative mobile app based on thoroughly researched structured data is what can make companies more customer centric. - Better revenue:
An increased consumption of smartphones across the globe drive for innovation and evolving technology is making mobile apps a standard practice for most Start-ups and a need for customers. Hence an important aspect for business revenue. For example, Uber, Amazon, Flipkart etc.
Challenges faced by most Start-ups
- Insufficient funds
It is a common issue for non-self-funded Start-ups. Most of the Start-ups fail to get enough VC funding for sustaining the business. - Experienced Talented SW Developers
High salaries & geographic shift is becoming a major issue to recruit talented SW developers for Start-ups. - Competition with market players
A saturated market controlled by existing players is a difficult place to establish your Start-up on strong grounds unless propelled by innovation in products or services offered. - Mobile App prototype making prior to launch the App
It is better to test before you launch your start-up actually. To have a look and feel of your ideas for mobile app one should get a prototype made for it. As it is rightly said, “Prevention is better than cure”, correcting the features before launch will lead to better mobile app development.
The Solution: pliXos B2B Marketplace
In order to streamline the process of innovative mobile apps development and software solutions, we built our popular B2B Marketplace for SW Services. It helps Start-ups and other companies to get the right SW experts needed for their success. The B2B Marketplace is integrated with further SaaS tools and automates and simplifies basic steps from idea to growth phase of Start-ups. Register now at www.plixos.com/market
Start-ups are you struggling to maintain growth & stability?
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Sources:
Slideshare
Startup Genome
Statista
Mobile Application Market Outlook - 2023
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