Mobile application development involves creating software for smartphones, focusing on platforms like iOS and Android, with a significant market presence as over 78% of the global population owns smartphones. The development process includes refining ideas, conducting market research, designing user experiences, developing the app, and thorough testing to ensure functionality and user satisfaction. Various development platforms, such as Flutter, BuildFire, Xamarin, and Adobe PhoneGap, offer options for creating both cross-platform and native applications.