Which Type Of Apps Have The Potential To Make Money In 2020?

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Which Type Of Apps Have The Potential To Make Money In 2020?

The advent of mobile apps has introduced the world with a variety of ways to generate revenue. We now know about a lot of applications that are doing well in the market. If this inspires your entrepreneurial dream, then here is a list of different types of apps that have the potential to make money in 2020.

Take a look further to know more about them.

  1. Mobile health

Mobile health or mHealth applications involve effective monitoring and sharing of healthcare-related data/information through mobile technology. The advent of a variety of technologies has boosted the scope of wearables and health tracking applications. As the world currently is fighting a war against the global pandemic, these applications provide us with a great solution for avoiding community spread. They allow doctors to monitor patients present in remote locations.

This type offers a seamless way to hospitals and doctors to provide their services to those who need it the most at any time and at any place. With an increase in demand, the developers get an opportunity to provide the medical industry with seamless apps.

It delivers a great passage for health insurance providers to send friendly reminders to the users, urging them to purchase healthy food or exercise regularly. To boost the use of these apps, companies can collaborate with medical and technical professionals.

Bonus Tip- If you are planning on creating a mHealth app, then make sure to provide a secure platform.

  1. E-commerce

Electronic commerce is an online platform where different businesses sell their goods and services. E-commerce mobile app introduces the global user base with a wide variety of places to shop from. The secret behind its popularity is the wave of digitalization. The traditional brick and mortar stores fail to deliver the utmost convenience that the user wants in this modern age. On the other hand, online commerce allows the buyer to shop at any time and from any place. It curbs the need to stand in the long and never-ending queue, after a tiring day at work, just to get the items billed.

With an e-commerce app, the sellers can design their own store with the help of developers and sell physical and digital products and services online, to a large audience. Making payments here is easier with the help of built-in or third-party applications. When compared to a physical store, sellers can maintain an online store at a very reasonable price. This upheaves the flow of revenue. It is very simple for anyone to keep a track of orders and shipping details, and if required one can also make helpful alterations. For example, introducing rewards, sales, discounts, or referrals to attract a colossal audience.

Bonus Tip- Utilize the feature push notification to boost the money-making process.

  1. Grocery

All over the world, people are waging a war against an invisible enemy, called coronavirus. This has forced many countries to go under complete lockdown, in order to confine the community spread. As the population chose to remain indoors, the demand for their day to day groceries was fulfilled by the grocery apps.

Within a short span of time, these applications became a lot popular, and many businesses started choosing it as an opportunity to generate an ameliorating revenue funnel. They allow the buyers to get anything from milk to shampoo delivered at their doorsteps without coming into contact with anyone. Grocery applications play a huge role in confining users against possible contamination by limiting contact. Commerce coupled with mobile not only helps the businesses to make more money but it also improves retention and user engagement.

With its advantages shooting for the stars, it can prove to be a great investment.

Bonus Tip- Even though grocery apps provide users & businesses with great benefits, one must not neglect the ameliorating and fierce competition. Always try to stand out.

  1. Money transfer

As the name clearly suggests, these applications allow its users to exchange money online. There are a lot of situations where these money transfer apps can prove to be of great advantage. Paying the emergency flight tickets, clearing the electricity bill last minute, or any other reason. The only point here is that the introduction of money transfer applications have allowed the audience to experience a smooth transaction. some of the apps don’t even require detailed banking information, which is great for someone who is looking to avoid complicated tasks.

Banks were very slow to follow the wave of digitalization, which gave rise to the peer-to-peer money transfer applications. This helped third-parties to create tools to streamline the process of transferring money. Not online the national transfers, they have also simplified the international money transfer. The attached chare helps businesses to generate the revenue of the same. But security is the only issue that is holding back some of the users. So to boost the integrity processes must protect the users’ information with layers of security. Security methods like encryption must be effective.

Bonus Tip- To boost the usage of the app, collaborate with different e-commerce apps, and encourage the users to pay their bills.

  1. Gaming

The market for mobile gaming apps dominates sales. They play an important role in capturing the user’s attention by following a dedicated and creative approach. One must not neglect the power of the gaming app business, as it can change your revenue funnel entirely. This industry occupies more than 50% of the mobile app development industry, and generate more than 80% of the total revenue. Processes are earning a lot of money by developing a gaming mobile application. If you are willing to jump on the bandwagon, then don’t leave any stone unturned to hit the nail right on the target.

Bonus Tip- Come up with an engaging idea to develop an entertaining gaming application, to stand out in the crowd.

  1. Fitness

As the population these days is staying indoors, many care unable to enjoy an intense workout session under the blue skies. But the increase in the number of fitness applications is surely great news for all fitness enthusiasts. Both businesses and audiences are benefiting from the perks that they have to offer.

Bonus Tip- Include more workout sessions in a variety of formats to provide diverse workout training.

  1. Social networking

As we stay at home almost all the time following the rules of self-isolation, it is important for us to stay connected with our friends and family. Social networking apps allow users to keep a check on near and dear ones. Creators can generate a good amount of revenue by monetizing the platform for ads and sales. The popularity of these platforms justifies their potential.

Bonus Tip- Keep it simple and different.

  1. Communication

Applications like Zoom and Skype provide a lot of inspiration to the processes. They are an ideal platform for gaining a lot of users as almost everyone is working from home. This has increased the need to connect with colleagues and collaborate on important tasks. Developing a communication app means that process is opening up the doorway to unmatchable opportunities.

  1. Learning

Many of us who have the habit of staying active all the time are facing a lot of atrocities locked up at home. With the introduction of a learning app, businesses provide options to the user to learn something new.

  1. Online movie/video streaming

Who knew that apps like Netflix and Amazon Prime would become an essential part of the Pandemic emergency kit. They allow businesses with a seamless way to get hold of a large audience, which in turn boosts the revenue funnel.

These are the 10 major apps that have the potential to make money in 2020. If you want to know more about their development, then feel free to reach out to the professionals.

Don’t forget to drop your views on our list in the comment section, but until then, stay tuned to this space for more information.