What is the difference between application development and web development?

There is practically not so much difference. But it depends on the platform. Developing software for desktop computers called application development. Browser based applications are web development. And mobile applications are for mobile devices, like Android based or iOS based applications.

Business application, also known as business application software (EAS), is computer software that is used to meet the needs of a company rather than individual users. Business application development services focus on building business applications designed to provide performance optimization at low cost.

The web development process uses a variety of technologies and software such as HTML, PHP, WordPress, Joomla, Drupal etc., including web design, web content development, front / back end programming.