Global PWA market set to grow from USD $3.53bn to $21.44bn
The global market for progressive web apps (PWAs) is witnessing substantial growth, with the market size expected to increase from USD $3.53 billion in 2024 to USD $21.44 billion by 2033.
Progressive web apps are characterised by their ability to deliver the benefits of both mobile applications and web technologies. Notably, PWAs are designed to load swiftly even under poor network conditions, and they support offline functionality. This makes them an attractive option for users frequently on the move. Businesses benefit from PWAs' ability to support push notifications, which assists in re-engaging users, enhancing conversion rates, and improving customer satisfaction. Furthermore, PWAs obviate the necessity for app store downloads, presenting businesses with a more cohesive and cost-efficient means to reach users across various devices.
There is an increasing emphasis on improving user experiences, which is significantly driving the global market for PWAs. Combining the functionalities of mobile apps and web pages, PWAs offer faster load times, seamless navigation, and responsive interfaces suitable for various devices and network conditions. This facilitates greater user satisfaction and encourages repeat engagement. For instance, following the introduction of its PWA, Starbucks experienced a doubling in daily active users, while Google observed a 52% boost in conversions and a twofold increase in user engagement.
The incorporation of artificial intelligence (AI) and machine learning into PWAs is reshaping user experiences by providing enhanced personalisation and engagement. AI functionalities such as chatbots improve customer service, whereas machine learning-driven suggestions deliver tailored content and product recommendations based on user activity. These technological advancements increase user satisfaction, retention, and conversion figures. For example, Flipkart's PWA demonstrated a 70% rise in conversions owing to machine learning-powered product recommendations, and Starbucks utilises AI to customise menu suggestions, which has heightened customer satisfaction and order frequency.
In regional terms, North America leads the PWA market due to its high concentration of tech companies and early adoption of digital innovations in industries such as e-commerce, media, and finance. This creates a conducive environment for rapid PWA development and utilisation, spurring market growth. The established advanced IT infrastructure and the focus on user experience optimisation further accelerate PWA adoption across various sectors. Corporations such as Starbucks and Twitter have adopted PWAs to boost engagement and improve operations, ensuring that North America maintains a prominent position in the global PWA market.
The market's segmentation on the basis of components identifies platforms as the dominant segment, generating the largest revenue share. In terms of organisation size, large enterprises lead with the highest market revenue. Additionally, the e-commerce and retail sector stands out as the leading application segment, holding the most significant market share.
Prominent competitive players in the PWA market include Google, Microsoft, and IBM Corporation among others. Recent developments in the industry include QOIBest opening a new office in Hong Kong in September 2024 as part of its global expansion strategy. This expansion focuses on enhancing mobile user experiences through its PWA technology, offering quick loading times, offline functionality, and user retention benefits, while also providing cross-platform compatibility to reduce development costs.
