Overview: The Explosive Growth of Mobile Apps
The app economy is booming. With 204 billion apps downloaded in 2019 alone, consumer mobile app usage grows daily across categories like social media, shopping, entertainment, and productivity.
Businesses are also embracing apps to connect with customers in our mobile-first world. Everything from banks to retailers to healthcare providers now view mobile apps as vital channels to drive user engagement.
And behind the scenes, mobile app development companies are fueling this revolution. By crafting beautiful, user-friendly apps aligned to business goals across market segments, development firms provide the talent and technical expertise to turn app ideas into reality.
The following list showcases 10 of the world‘s largest app development firms based on annual revenues. Ranging from industry pioneers to rising stars, these companies drive billions in app revenues collectively across enterprises and consumers globally.
Data source: Statista
#1. Groovy Web: $1 Billion
Quick Facts
- Founded: 2011
- Headquarters: Jaipur, India
- Key Expertise: Cross-platform app development
- Key Leaders: Founders Peeyush Jain, Ishan Jain
- Employees: 250+
- Key Clients: 500+ companies across verticals like fintech, e-commerce, and enterprise apps
- Fun Fact: Developed one of India‘s most downloaded utility apps serving 15M+ users
Since 2011, Groovy Web has provided full-cycle app development services from planning through launch and continues feature upgrades. Tracking the explosive growth of mobile apps, founders Peeyush Jain and Ishan Jain spotted a need for user-centric design fused with seamless backend integration.
Now 500 employees strong across five global offices, Groovy Web builds sophisticated apps empowering companies worldwide to transform customer experiences. Their portfolio spans 200,000+ apps driving over 48 million downloads globally – including India‘s most popular QR and barcode scanner utility.
Recognized as Top App Developers globally by GoodFirms, Groovy Web accelerates innovation by acquiring rising development shops:
- Acquired web developer Bacancy in 2020
- Acquired app developer Peerbits in 2021
- Acquired IoT developer Techugo in 2022
These mergers expand Groovy Web‘s end-to-end capacity around digital product design and technical development – fueling over $1 billion in annual app revenues today.
#2. Alphabet: $69 Billion
Quick Facts
- Founded: 2015
- Headquarters: Mountain View, California
- Key Leaders: Founders Larry Page and Sergey Brin
- Employees: 163,000
- Key App Services: Google Play Store, Google Cloud, YouTube, Google Maps
As Google‘s parent company, Alphabet dominates several technology sectors from search to quantum computing to autonomous vehicles. Within the mobile ecosystem, Alphabet generates significant revenues across:
Google Play Store: Over 3 million Android apps hosted driving billions in app downloads
Google Cloud Platform: Provides app hosting, test APIs, data analytics to developers
YouTube: The world‘s largest video app with over 2 billion monthly users
Google Maps: The world‘s leading mobile mapping and navigation app
Spanning YouTube viewing data to Google Maps routing capabilities, Alphabet not only builds leading consumer apps but also provides other development shops the cloud tools to build the next generation of mobile innovations.
#3 Rightpoint: $250 Million
Quick Facts
- Founded: 2007
- Headquarters: Chicago, Illinois
- Key Leaders: CEO Brad Schneider
- Employees: 450
- Key Expertise: Mobile prototyping, iOS and Android development, cloud integration
- Marquee Clients: Virgin Atlantic, Yamaha, John Hancock
Founded as a digital consulting firm in 2007, Rightpoint has evolved significantly to become a full-service mobile app development powerhouse following its 2019 acquisition of leading app developer Raizlabs.
Their award-winning designers, product managers and software engineers now deliver end-to-end mobile products – from prototyping concepts to multi-platform deployments. With specializations in data integration and leveraging device capabilities, Rightpoint crafts personalized mobile experiences driving value for clients like Virgin Atlantic, relatable only through apps.
Today with over 1,000 mobile apps delivered across financial services, healthcare, manufacturing and other verticals, Rightpoint generates approximately $250 million in annual revenues – establishing their position among the top global app developers.
#4 Altoros: $75 Million
Quick Facts
- Founded: 1999
- Headquarters: Sunnyvale, California
- Key Leaders: Founder & CEO Renat Khasanshyn
- Employees: 500+
- Key Expertise: Hybrid and multi-cloud deployments, AI/ML data services
- Marquee Clients: Autodesk, Comcast, QuinStreet
Celebrating over 20 years since founding in 1999, Altoros has become one of the most specialized enterprise mobile and web app developers through focus on integrating emerging technologies. Their engineers and data scientists leverage analytics, AI, Machine Learning and multi-cloud platforms to create future-ready apps for clients.
This blend of new and old – combining legacy modernization services with cutting-edge capabilities – enables Altoros to handle the most complex digital transformation initiatives across industries and company sizes:
- Developed insurance price comparison app for QuinStreet scaling to millions of queries daily
- Built multiple enterprise apps for Autodesk centralizing documents, project search and workflows
- Designed Comcast‘s mobile tech support app empowering field technicians with ticket tracking, customer data
Generating upwards of $75M in annual revenues with 500+ engineers across Silicon Valley and Eastern European offices, Altoros fuses back-end muscle with next-gen innovation.
#5 ScienceSoft: $20 Million
Quick Facts
- Founded: 1989
- Headquarters: McKinney, Texas
- Key Leaders: CEO & Founder Alexander Larynian
- Employees: 200+
- Key Expertise: Retail, Insurance, IoT, Cybersecurity
- Notable Apps: Pregnancy Care Tracking, Retail Analytics
Evolving from a bootstrapped AI lab in 1989 to leading app developer today, ScienceSoft empowers companies to launch ideas faster through Agile processes and prototype-driven design.
With testing automation and seamless DevOps, ScienceSoft‘s apps meet the rapid iteration speed expected by modern CTOs. But rather than churn out quick hits, ScienceSoft invests heavily in planning around security, scalability and ecosystem integration leading to award-winning results:
- Built popular pregnancy tracking app helping future moms monitor baby developmental milestones and connect to local events
- Developed multiple retail analytics apps processing billions of IoT data points to optimize brick-and-mortar shopping
Now with 12 offices across the U.S. and Europe and 200+ specialized engineers, ScienceSoft proudly serves global leaders like McDonald‘s, Nestle, Vodafone and Xerox at the forefront of digital transformation – generating $20 million+ in annual app revenues.
#6 Cheesecake Labs: $18 Million
Quick Facts
- Founded: 2015
- Headquarters: Sao Paolo, Brazil
- Key Leaders: Founders Vinicius Dutra, Bernardo de Araujo
- Employees: 150+
- Key Expertise: AI, IoT, Blockchain, VR, UX Design
- Notable Apps: CakeAuto Car Insurance, LocBike
Founded by entrepreneurial engineers Vinicius Dutra and Bernardo de Araujo in 2015, Cheesecake Labs believes collaboration around visual prototypes combined with modern process drives app innovation.
Their award-winning designers, developers and QAs employ figma wireframing, CI/CD pipelines and cloud-based staging servers to build sleek, scalable apps at speed for enterprises across banking, transportation, healthcare and e-commerce.
Some prominent apps launched by Cheesecake‘s now 150+ innovators include:
- CakeAuto enabling consumers online auto insurance quotes in minutes
- Bike sharing app LocBike promoting micromobility across urban Brazil
Hosting clients across Europe and the Americas from Sao Paolo HQ and regional tech hubs, Cheesecake Labs accelerates ideas to working products rapidly. Powering $18 million+ in annual app revenues to date, Cheesecake Labs proves world-class innovation thrives across global tech hotspots!
#7 Eleviant: $5 Million+
Quick Facts
- Founded: 2004
- Headquarters: Atlanta, Georgia
- Key Leaders: CEO Rajesh Anandan
- Employees: 250+
- Key Expertise: Legacy modernization, enterprise integration
- Notable Apps: Field Services Productivity, Mercer Benefits
Originating in 2004 as a boutique offshore developer, Eleviant now modernizes legacy applications for many Fortune 500s by bridging custom platforms to cloud and mobile seamlessly under current CEO Rajesh Anandan.
Today 250+ specialized engineers across delivery centers globally architect open APIs and build companion apps driving adoption for complex system upgrades:
- Developed field productivity app suite connecting technicians offline to decades old mainframe via cloud services
- Designed mobile self-service portal allowing claimants access and understand earned benefits
Through focus on people and changing behaviors alongside technology, Eleviant provides the critical last-mile delivery de-risking enterprise modernization. Generating $5 million+ in managed app services annually, Eleviant helps global 2000 giants unlock data bottlenecks to fuel mobility and innovation at scale.
#8 Resourcifi: $5 Million
Quick Facts
- Founded: 2009
- Headquarters: Washington D.C.
- Key Leaders: Founder Mark Nash
- Employees: 50+
- Key Expertise: Native iOS, Android, React Native
- Notable Apps: American Cancer Society, Stanford University
Differentiating itself from traditional offshore body shops, Resourcifi embraces lean, distributed teams augmented through consulting – adapting expert engineers based on project needs.
Founded by software developer Mark Nash in 2009, Resourcifi now maintains a bench of 35+ devs across latest tech stacks led by onshore product owners. This gives clients like Dow Chemical and Stanford University access to senior iOS, Android and React Native experts rarely seen in typical contracting models.
Some highlighted mobile apps delivered by Mark and the Washington D.C. based team:
- Built mobile app to connect cancer patients to personalized clinical trials
- Designed mobile wellness app for Stanford community driving 28% weekly engagement
Generating $5 million+ in annual services revenue, Resourcifi accelerates ideas without sacrificing quality through nimble staffing.
#9 Owebest Technologies: $2 Million
Quick Facts
- Founded: 2014
- Headquarters: Indore, India
- Key Leaders: Founder Amit Gupta
- Employees: 50+
- Key Expertise: Web apps, IoT, Blockchain, Chatbots, AR/VR
- Notable Apps: PharmEasy Online Ordering, CryptoZillas NFT Marketplace
Committed to coherent design and clean code above all, Owebest builds sophisticated digital solutions centered around utility since 2014 under founder Amit Gupta.
Their core philosophy? Prioritize user needs first.
Now 50 innovators strong specializing in mobile, web and emerging tech across healthcare, banking, insurance and e-commerce domains distill complexity to delightful experiences.
Some prominent recent app projects:
- Developed 1-click medicine ordering and delivery app serving 20K+ monthly patients
- Designed custom NFT marketplace for digital artists and collectors closing $1M+ in first month of sales
Generating upwards of $2 million in annual revenue and climbing quickly, Owebest shows world-class user-centric app development thrives everywhere talent gathers – from India to Silicon Valley alike!
#10 The Distance: $1 Million+
Quick Facts
- Founded: 2008
- Headquarters: York, United Kingdom
- Key Leaders: MD James Donnelly
- Employees: 50+
- Key Expertise: VR, IoT, Brand Experience Apps
- Notable Apps: Bentley AR Configurator, Professional Golfers‘ Association App
Conceived over one too many pints at the pub, The Distance officially launched in 2008 as three mobile app pioneer friends saw smartphones and apps beginning to merge professional and personal digital experiences uniquely.
Now their 50+ creatives and technologists design multi-platform brand experiences for clients like Bentley Motors, delivering apps promoting customer satisfaction and loyalty through engagement.
Some highlighted work:
- Developed augmented reality app for Bentley allowing buyers to visually configure vehicles from color to interior
- Built official event app for Professional Golfers‘ Association showcasing players and schedules across 30+ annual tour stops
Celebrating over a decade of growth crafting mobile moments that matter for industry leaders, The Distance crosses £1 million annually by sticking to its award-winning principles: Adopt new platforms early. Design for humans by listening first. And nurture innovation respectfully as a team.
