Which Businesses Benefit From Mobile App Development?

• By Prasanna Simhadri
• 20-06-2023
• Mobile App Development

Mobile app development is transforming the workflows of every business in this ever-emerging digital landscape. A retailer, a manufacturer, an e-commerce company, an education academy, a banking or FinTech corporation, a healthcare organization, a travel agency, and whatnot every business across various industries offers mobile apps and progresses forward confidently. Mobile apps support brands in making their services available 24*7 to targeted audiences and optimizing business outcomes.

On the other side, driven by the comfortable and convenient ways to access everything online, the popularity of mobile apps has been growing unceasingly. Smartphone users are simply sitting in their spaces and meeting their derided needs right from a custom mobile application.

From shopping, travel booking, food ordering, and medicine ordering to doctor consultation booking, banking, trading, and at-home service deliveries, Android/iPhone apps are assisting end-users.

What we would like to convey through this article is investments in mobile app development will create unbeatable outcomes for businesses of all sizes. Whether you are a startup, mid-level company, or an MNC, custom mobile application development will appreciate your investments in terms of quick brand reach and high Return-on-Investments (RoI).

Let’s take a look at how businesses across diversified industries are profiting from mobile application development (Android app development or iPhone app development).

Top Benefits Of Mobile App Development By Industry

1. Banking and Finance Industry

The banking and finance sector is one of the most promising industries where the scope for mobile application development is high. Customers have switched to online banking services for their regular banking needs. To instantly transfer money, check balances, open/close accounts, paying bills, over 75% of customers are unlocking their mobile banking apps.

Hence, if you are a banker, finance company, or Fintech enterprise, it’s the right time to invest in custom mobile application development. Yes, mobile banking app development will be the best choice to grab market opportunities in this digital wave.

Here are the significant advantages that bankers can reap from mobile application development:

• Streamlined Process: Mobile apps in banking and finance ensures streamlined banking processes
• Improved Accessibility: Mobile banking apps enable 24*7 banking accessibility to customers
• Enriched User Experiences: Using mobile banking apps banking and finance companies can securely deliver desired services online and improve the user experiences
• Fraud Detection and Prevention: Using artificial Intelligence and predictive analytics capabilities, banking apps can continuously monitor online transactions and improve security levels. It helps banks protect their network infrastructure and prevent illegal attempts on users’ accounts.
• Process Automation: Using banking apps, banks, finance, or FinTech companies can automate regular front-desk operations and backend insurance claiming or loan lending processes.
• Instant Customer Assistance: Through the integration of AI chatbots in banking apps, banking & finance companies can virtually deliver customer support services and improve customer experiences. Better User Engagement and customer retention are assured.
• Quick Transaction: Banks can reduce transaction time and increase user satisfaction
• Notifications & Alerts: Banking apps send automated notifications and alerts on recent activity, transaction updates, or any other illegal account access-related alerts. It will ensure app personalization and offers an extra level of security.

2. The Healthcare Industry

The demand for online doctor consultations apps, eHealth apps, Telemedicine, fitness & well-being apps, and online medicine delivery apps is increasing worldwide. Digital healthcare apps are exponentially accelerating since the COVID-19 outbreak and have a broad scope in the future.

Using mobile healthcare apps, users can book an online appointment with a specialist, find nearby hospitals in an emergency, order medicines online & get door deliveries, set reminders on refills, and many more.

Business Benefits Of Healthcare App Development

• Healthcare app development offers Medicare efficiency, service quality, and improved real-time communication.
• Healthcare service providers can ensure better patient engagement and deliver improved care services.
• Automate front-office tasks and improve productivity
• Through telemedicine, physicians can provide high-level care services to patients in remote locations.
• Healthcare app development helps companies strategically design Healthcare Staff Scheduling and better manage their workforce.
• AI-enabled healthcare apps will minimize the risks of diagnosis errors.
• Improves point-of-care coordination
• Custom AI-based healthcare apps make remote patient monitoring functions seamless
• Doctors can access the electronic health records of patients and offer personalized healthcare experiences.

Market Scope For Mobile Healthcare Apps

The above figure reflects the rapid growth of the global digital healthcare sector. According to market research reports, the market value of the mobile Healthcare segment will reach USD 233.5 billion by the end of 2023.

Driven by the increasing downloads of Fitness & Well-Being apps and online appointment booking apps, the market value of the digital health industry will predict to reach approximately USD 939.5 billion by 2032. Hence, it is the best time to invest in healthcare app development and stand at the forefront of the digital wave.

3. Retail Sector

Custom mobile application development will add value to the retail business in this mobile-first world. Your one-time investments in retail mobile app development will let you engage your customer online, increase accessibility to your store’s products, and offer digital experiences to your audience.

Mobile apps for retail will drastically transform the traditional in-store experiences. Customers can find products seamlessly using in-store inventory tracking solutions. Like these, the advantages of retail mobile app development investments are infinite, and here are a few.

How Mobile App Development Benefits the Retail Sector?

Let’s look at a few significant benefits to retailers on investing in mobile app development:

• Retail apps accelerate digital transformation in traditional business.
• Quick brand promotion in the competitive marketplace
• Driven by reliable home deliveries, retail apps increase customer retention and loyalty.
• AI-powered custom retail mobile app development helps retailers monitor in-store customer experiences and optimize service quality.
• The adoption of intelligent AI apps in retail ensures better inventory level tracking and management.
• Mobile apps in retails with geo-location tracking features and functionalities help to find store locations seamlessly.
• Mobile apps for retail businesses increase the customer base.
• AI-based retail apps will help to identify market trends, thus helping retailers make appropriate strategies and promote growth.
• Retail app development help supermarkets and stores generate continuous business.
• Mobile retail apps help retailers share complete product information on social media platforms and generate more sales opportunities.
• Retailers can collect reviews and feedback from online customers and get a chance to improve customer relationships and brand sustainability.

4. Manufacturing Sector

The use of mobile apps in the manufacturing industry is not a new topic. The manufacturing industry is one of the top most sectors where mobile apps are witnessing tremendous growth. The manufacturing sector has already been in new heights in terms of tech-powered manufacturing and a robotic-assisted production environment.

Accordingly, the adoption of connected and collaborative mobile applications is also on the rise to make operations more efficient and faster. Overall, mobile app development in manufacturing will boost operational performance and smoothen the processes.

Here is how manufacturers are using Mobile apps in manufacturing operations:

How Can Mobile Apps Development Help Manufacturers?

• Streamlining manufacturing processes and boosting production efficiency
• Enhanced resource management
• Intelligent production management
• 24*7 warehouse management
• Smart inventory tracking and management
• Predictive maintenance of machinery failures
• Reduced operational costs
• Tracking equipment performance and faster decision-making to reduce device downtime
• Supply-chain forecast& demand prediction, etc.
• Custom manufacturing mobile apps with IoT and GPS potential helps manufacturers have control of their distribution fleets.
• Mobile Apps for Manufacturingautomate order intake and better managing their customers.
• Mobile apps that support the Internet of Things (IoT) play an important role in asset tracking, thus improving the security levels across the premises.
• AI-enabled mobile apps records or accesses vast amounts of device data with zero errors and predict the time of equipment maintenance.
• The adoption of mobile apps in the manufacturing industry will enhance the quality regulations checks.

5. E-Commerce Industry

Driven by the availability of hundreds of brands & thousands of product categories and convenient order placing and door delivery services, eCommerce apps are gaining momentum.

Amazon, Flipkart, eBay, Myntra, Shopify, and Walmart-like popular eCommerce apps are ruling the industry and generating a flow of revenues. Hence, Ecommerce apps are the best way to engage globally and generate trillion-dollar business.

Top Benefits of Developing Mobile Apps For E-Commerce:

• Improve online shopping experiences and increases customer loyalty.
• The easy and simple design of eCommerce apps makes users search faster.
• E-commerce apps increase conversions.
• By enabling social media sharing functionality, E-Commerce applications for Android or iPhone will extend the brand value and create new business opportunities
• Leveraging predictive analytics capabilities in the app development process, eCommerce apps help service providers make the best pricing strategies to attract more customers.
• E-commerce apps help customers pay for their online purchases in flexible payment modes, thus, it enriches app personalization and user experiences.
• Using Machine Learning (ML) capabilities in eCommerce app development, businesses can determine insights into the user’s search patterns. These insights will be helpful for service providers to identify users’ interests and offer more personalized product recommendations.

6. Education Sector

Mobile application development in the education sector anticipates transforming conventional learning ways. Yes, mobile apps will revolutionize the future of the education industry and optimize learning methods.

In particular, with the adoption of Artificial Intelligence, Augmented Reality (AR), and Virtual Reality (VR), the education section is delivering the next level of digital services. These technologies will create a virtual environment where learners and instructors can virtually interact and improve knowledge-sharing experiences in real-time.

Here are a few benefits that the education industry can gain from eLearning app development!

• The quality of education delivery services can be improved.
• Online learning is cost-effective.
• Education app development encourages remote learning and increases accessibility.
• EdTech apps ensure better engage every student and offer personalized learning experiences.
• Interactive online instructions and tests help learners gain deep knowledge and improvise their skills.
• Education academies can provide online materials and give 24*7 download access to students. It will increase the app’s loyalty and enhance service quality.
• Integration of video learning sessions in education apps of any category will help in effective learning.
• Educational apps help institutions monitor remotely monitor the student's progress.
• Education apps build the best online platform for parent-to-teacher, teacher-to-student, and parent-to-student communication.
• Mobile educational apps enable systematic learning and augment the level of skills.

Herein, we have discussed only a few sectors that are reaping the benefits of mobile application development. Mobile app solutions (Android or iPhone) will greatly impact contemporary business processes. Mobile applications can take your business to new heights and create a digital voice for your brand.

We hope the above information will be helpful for organizations across diversified industries who are in plans to invest in mobile application development.

Now, let’s look at the things you must consider before hiring a leading mobile application development company for your project developed with world-class features and functionalities. Here are the tips for finding the best app developers from a pool of application development agencies worldwide.

Best Tips To Hire A Top Mobile App Development Company

Industry Experience

Before hiring a Mobile Software Development Company, check their industry experience. Industry experience matters a lot in estimating the quality of end-product. Hiring app developers with vast industry experience will help you build best-in-class, impactful, and flawless mobile apps faster.

Product Portfolio

Product Portfolio is another significant factor that must consider before hiring a software development company. The portfolio of app development projects and their case studies will reflect the quality, potentiality, and intellectual capabilities of app developers’ expertise.

App Development Services

Generally, app development companies will provide end-to-end services, including UX/UI design, development, deployment, and maintenance services. But, a few app developers will offer limited services.

If you hire an app developer who offers limited software development services, then app development leads to a high budget. To get the application within budget, hire top app developers who provide across the value chain of software development services. It will save your investments and also makes the app development process faster.

Technology Stack

The technology stack is another factor that plays a vital role in the design and development of flawless and high-performance mobile applications. So, before hiring Android/iPhone application development companies, ask about their tech stack and proceed if it matches your project objectives.

Wrapping Up!

We hope that this piece of information will be a guide for organizations who are in plans to invest in mobile app development. Manufacturers, education institutions, healthcare service providers, e-Commerce & retail companies, and banking & Finance companies can benefit from mobile application development investments. Step forward to invest in mobile apps and take your business to new heights in this digital sphere.