Mobile applications market has emerged as new business model. The purpose of this study is to analyze the factors of mobile applications adoption. Based on prior studies of TAM and mobile technology/service, service quality, user experience, OS compatibility, self-efficacy, innovativeness, perceived usefulness, perceived ease of use, and cost were identified as affecting factors of mobile applications adoption. According to the results, service quality is significantly related to the perceived usefulness, and self-efficacy and innovativeness are significantly related to the perceived ease of use. User experience was also found to be related to both the perceived usefulness and the perceived ease of use. In case of OS compatibility, it was found to be significantly related to the perceived ease of use, but not to the perceived usefulness. Both the perceived usefulness and the perceived ease of use were found to be related to the adoption of mobile applications. However, cost was not found to be significant to the relationship between the perceived usefulness/the perceived ease of use and the adoption of mobile applications. This study contributes to provide the base of activation strategies and practical implications for mobile applications.