Posted on July 23, 2020 by Apeksha Khanna | Blog | Total Hits:
Mobile Apps has been a part of our lives and is leaping the numbers every year. Over 2.57 million mobile apps in the Play Store and 1.84 million mobile apps in the Apple App Store were available in Q3 19. (Source). There are millions of mobile users who are happily spending money to avail the perks of door-step services via App. The Mobile app technology demand is at a peak that it has gained the interest of Businesses and App developers. And it’s not going to slow down any time soon. To support our point, we’ve gathered few revenue statistics that address your questions.
Let’s have a look at them
App Revenue Statistics
● App revenue $50.1 billion worldwide on the App Store and Google Play in the first half of 2020. (Source - Sensor Tower)
● Mobile game spending was up 21.2 per cent, contributing $36.6 billion on the App Store and Google Play Store. (Source - Sensor Tower)
● Apple’s App Store generated an estimated $32.8 billion globally in 2020 (Source - Sensor Tower)
● Google Play generated $17.3 billion globally in 2020 (Source - Sensor Tower)
● The evaluation of mobile app consumer gross spending is to exceed $120 billion before 2020. (Source - Statista)
● Tinder was the highest-grossing app with $433 million in spending in H1 2020.
● Remote working Apps were highest in Global Download. Zoom accounted to $622.7 million in revenue in Q1 2020.
● Consumer spends on Youtube were $431 million globally.
● The mobile game spend for App store were up by 22.8% while for the Play store it is 27.3%
● New Mobile game download recorded 28.5 billion first-time installs.
● eMarketer predicts that total global digital ad spending will come to $333.25 billion in 2019 and $517.51 billion by 2023
● Mobile ad spend figures published on Statista predict ad spend of $188 billion this year, increasing to $250 billion by 2021
● The in-app advertising revenue expectation setting at $117.1 billion in 2020.
● In the App Annie survey, 71% of respondents reported using a freemium model for games, compared for 52% for non-game apps
What do these figures mean for you?
2020 in halfway has given the highest revenue when compared to previous years. On the side, it is bringing opportunities for businesses in different verticals to foster investment in Mobile App development.
● 2020 is the year of customers: COVID outbreak has made customers adopt mobile apps like never before. From taking classes to attending office meetings, every task has been shifted online. By the time, the pandemic situation end people will adapt to the mobile app technology. So, with that, we can say that 2020 and beyond is the year of more customers.
● Investment in Gaming Apps: Gaming Apps has contributed the highest to overall App economy. And we can say, by the growing number of games on App stores and increased user interest, it is going to stay for long in the mobile economy.
● In-App Advertising: in-app advertising monetization model is disliked by users but it is widely used for revenue streams. It creates large returns to app entrepreneurs. So, brands may continue to include in-app marketing for their contribution to revenue.
● Freemium Plan: Gamers and Non-gamers both will prefer freemium plan. It will also serve the purpose of App owners to capture both the free and premium market.
● The top non-game App Drivers: The top revenue-driving non-game apps will continue to climb on the ladder board. Productivity and utility apps like Zoom. Microsoft office will continue to be the hit by worldwide downloads and usage is the second half of 2020.
● Free Apps: Free Apps by downloads will be dominant in the total apps available on app stores.
The Future of Mobile App Economy
It is undeniable that Mobile technology is reshaping how we deliver or receive services. It is so embraced worldwide that users now rely on it to get the job done. It has become a lucrative business for many. Thus many businesses despite their business segment would be thinking of investing in the App market.
Though merely developing an app will not guarantee success. Only 0.01% of all apps ever created actually become successful. So, the statistics may make you wonder if the app development worth it. As stated by the statistics, the app market is growing and flourishing. You have to work on your app idea thoroughly and need to learn what problem it actually solves for the user.
Cost of Mobile App Development
When a Mobile App is developed, it is created for two or segments, primarily user and Admin. The UI and App flow is entirely different from them. Then, a few distinct features are added to enhance its functionality. The features and design depend on how complex the app you have. Is it a static have with defined content for it is dynamic. Based on the complexity of design and development, the time is determined. So, all these factors when taken into account determine the App cost. If you have an inspiring idea and want to get the app development, I recommend contacting a developer to get clear cost statements for your app.