The Mobile App: Your market is in your hand only
We are all living in the ‘age of happenings’ now. If any potential product is ready, market for it is always ready. Years of efforts and cash burnt by the developers and entrepreneurs resulted within fraction of seconds when their brain Childs are introduced to the markets. The technical advancements and changes in the consumers interest and preferences compel us towards a new economy i.e., ‘app economy’ which has no boundaries to get what consumer or customer requires from any corner of the world. Now, the mobile applications have become an indispensable part of daily life in the age of information revolution. The exponential growth of the app economy creates abundant opportunities and new venues to the developers and companies throughout the globe. Mobile apps are multilayered products with various features, protected by various Intellectual Property Rights, but majority developers are ignoring the importance of the IP rights they are entitled to get associated with their apps which causes great loss and neglected damages to their efforts.
We are all living in the ‘age of happenings’ now. If any potential product is ready, market for it is always ready. Years of efforts and cash burnt by the developers and entrepreneurs resulted within fraction of seconds when their brain Childs are introduced to the markets. The technical advancements and changes in the consumers interest and preferences compel us towards a new economy i.e., ‘app economy’ which has no boundaries to get what consumer or customer requires from any corner of the world. Now, the mobile applications have become an indispensable part of daily life in the age of information revolution. The exponential growth of the app economy creates abundant opportunities and new venues to the developers and companies throughout the globe. Mobile apps are multilayered products with various features, protected by various Intellectual Property Rights, but majority developers are ignoring the importance of the IP rights they are entitled to get associated with their apps which causes great loss and neglected damages to their efforts.
India’s catch in the app economy:
According to 42 matters study, India’s app economy is maturing rapidly. While China remains the largest market in terms of usage and revenue, and American companies are perhaps the most innovative, India is now the top country in the world in terms of number of apps installed and used per month. The Indian app landscape is spearheaded by the telco giants Airtel and Jio. However, streaming companies like Novi Digital and JioSaavn, digital payment platforms like Paytm and PhonePe, eCommerce sites like Flipkart, and many more have all firmly established themselves in the global market. According to its (42 matters study) data, there are 30,625 active Indian mobile app developers which is 3% of the total active developers (10,23,226) available in the Google Play store. Out of 32,80,102 apps available in Google Play store 1,55,497 were built by Indian developers only and they got rated with 3.97 on an average which is an inspiring and encouraging thing for the developers. The most downloaded of these apps are JioCinema – Bigg Boss, Ind WI, PhonePe UPI, Payment, Recharge, Meesho: Online Shopping App, Flipkart Online Shopping App and Shopsy Shopping App – Flipkart.
“Change of all kinds is happening at accelerating rates. In some areas of human activity, change is not just accelerating but exploding. And none of this shows any sign of slowing in our lifetime. So, we are left with only two choices. We can simply allow ourselves to be overcome by a sea of uncertainty, or we can batten down the hatches and get ready to ride the waves of change”
Denis Waitley (Empires of the Mind)
A report commissioned by Broadband India estimated that India’s App economy is expected to reach $791.98 billion by 2030, which is a contribution of 12% to the country’s estimated GDP of $6.59 trillion dollars. This reveals the accelerated growth of the ‘’App economy” in India. These statistics are not only restricted to India, the same level of trend is also been witnessed by the world too, which reveals the promising market and business for the App Developers and companies who are constantly putting efforts to bring the disruptive apps.
Though the promising market is open and welcoming, lack of awareness towards protection of intellectual property of the apps minimising the entrepreneurs and companies to tap the potential market already created for them. App piracy is damaging the maximum and landing them in the legal troubles without their fault which causes severe losses and damages to the more ideas turned products but failed to see the light.
The Innovation Landscape
The history of innovation is a history of great rivalries. The rivalry between the Google Play and iOS App Store has generated countless opportunities for mobile app developers and companies developing the apps. This competition led to the creation of new technologies and business models; more accessible gaming and digital entertainment; and more affordable consumer goods and services.
According to data.ai Mobile adoption boomed in 2021, with growth across downloads, usage and app store consumer spend: over 232 billion downloads, $168 Billion in consumer spend and 3.9 trillion hours globally. Despite IDFA, dollars flocked to mobile ads, topping $295B in 2021 and poised to hit $350B in 2022.
A recent report released by data.ai, which is the first Unified Data AI platform bringing together consumer data and market estimates working for a mission towards to help brands, publishers, and investors with strategies to succeed in the mobile and digital ecosystem, based on premium insights, prescription, and execution, global in app spending grows Y-O-Y to record $67.5 billion in the first quarter of 2023 only. The global app market bounced back after suffering in the macroeconomic headwinds of 2022. The first half of 2023 reveals that strong growth has returned, with a record $67.5 billion in consumer spend and 76.8 billion app downloads globally in H1 2023 across iOS and Google Play it reported.
Global Mobile Forecast
20 Years of the App Stores: In 2028, Mobile Time Spend Will Surpass 6 trillion Hours. Mobile-centricity, advances in connected technology, expansion of casual and core gaming, 5G rollout, demand for digital connection, self-expression and deepening personalization of apps will fuel sustained growth in time spent. Video streaming and user generated content (UGC) will continue to fuel growth in the next 6 years. Third-Party Android Stores China will remain the largest mobile market for time spent. LATAM, SEA and MENA will drive growth in engagement. Netflix gives us the live example to rely the forecast.
Netflix had around 238.39 million paid subscribers worldwide as of the second quarter of 2023. This marked an increase of 5.89 million subscribers compared with the previous quarter. Most Netflix subscribers are based in the EMEA region (Europe, Middle East, and Africa), accounting for almost 80 million of Netflix’s total global subscriber base. Netflix generated $16.349 Billion revenue in first 2 quarters of 2023. The Subscription Economy, Netflix relied on offers consumers a wealth of choice. And gives innovative brands a huge opportunity for growth.
IP involved in the Mobile Apps
Mobile apps are multilayered products possessed with different features, which may be protected by various intellectual property (IP) rights including but not limited to copyright, trademark and patent it extends further to mobile app’s computer code, software architecture, algorithms, data structures, design, trade secrets, utility models and Trade Dress i.e the product’s appearance, outer look or packaging of the product, it’s generally the GUI in the case of apps. Generally every application has its app life cycle which can be classified as a) Conception, b) Development and c) Commercialisation. Based upon the life cycle it follows, various IP requirements shall arise as mentioned below. Irrespective of the size of the entity and market it’s necessary for the businesses to register their IP rights.
Conclusion
It is the high time for the app developers and the companies to tap the new markets with their IP rights. Various IP rights may protect various aspects of mobile apps. The extent to which such protection is available depends on the app’s elements and the jurisdiction. Reliance on some IP rights does not require upfront costs associated with registration, while others exist only when registered.
As a general rule, where it is clear to a mobile app developer that a certain market would be central to its marketing efforts, it is advisable to consider registering IP rights, such as trademarks, designs, and patents and other applicable IP where possible. A variety of registered and unregistered rights could prove essential when fending off imitative competition. It gives the owner the flexibility to use one IP right when another is successfully challenged.
Disclaimer: The source of the information mentioned in this article is majorly from WIPO publications and ideas shared in the articles by the learned intellectuals. The images are gathered from 42 matters study and data.ai.
