Mobile App Economy In Next Five Years: Forecast
Smart phone applications popularity is rapidly rising in the categories such as social networking, gaming, entertainment, lifestyle, GPS, banking, medical and many more. No other ecosystem is growing as fast as smartphone apps.
The 2015 Black Friday holiday report by IBM states that the mobile devices has dominated the online shopping landscape for the very first time. The powerful growth of smartphone application industry is the true signal of its bright future. No doubt, its going to be very challenging in the upcoming years.
If you are also dreaming to grow your business with the help of smartphone applications, it is necessary to know “What is going in the mobile market and where it will be after 5 years”.
I researched and created a compilation of statistics and facts delineating the landscape of present mobile industry along with its position in the next five years. The report contains the international scenario of the market with detailed overview and figures.
1. Gross annual revenue growth of mobile apps 2015–2020
• The report from App Annie mobile application forecast includes following insights:
• 2015 was a great year for mobile industry, ended up with the total revenue of $41.1bn.
• 24% of growth is expected in the application market, making it to reach at $50.9bn in 2016.
• The global annual smartphone application revenue is predicted to break $101 billion by the end of 2020.
This increasing growth of revenue is clearly showing that the mobile apps would be the primary source to lead the businesses in the next 5 years.
2. Gross Mobile App Revenue: By Category
• In 2015, the category “Games” have seen the highest lift comprising 85% of the $41.1 billion of total gross revenue.
• Although gaming applications are achieving the high popularity but it will face a slight downfall of accounting 74% of total $ 101 billion in 2020.
• Apart form gaming, the other categories such as video streaming, dating will also keep contributing to the success of app economy.
3. Annual Gross Revenue: By Regions
• It is expected that China will lead the overall revenue of mobile app stores by the first half of 2016.
• In the emerging markets, U.S, Japan & China will be the major contributors of overall smartphone app revenue growth.
• Also, good opportunities in smartphone market will be seen in developing markets such as Indonesia, India, Mexico and Argentina.
• APAC: Includes all countries in South Asia, East Asia, South east Asia, Australia and New Zealand.
• Americas: Include all countries in Europe, the Middle East and Africa.
• EMEA: Include all countries in North & South America.
4. Total Mobile App Downloads: By Category
The continuous rise of mobile devices is immensely giving a great hike to application download share. The new generation is very fond of smartphone application, causing the millions of app downloads everyday. When it comes to category, in 2015, Gaming was one of the top leader in the mobile app download economy.
• In 2015, Games were accounting 45.4 bn of total downloads.
• Till the end of 2020, the non gaming categories including music, media, entertainment etc are expected to raise their total share in the number of annual downloads.
• The other categories apart from gaming, will be exceeded by 23%, making it to account 182.1 bn downloads.
5. Total App Downloads: By Region
• The mobile application market is getting bigger every year. Not even a small part of world is escaped from smartphone apps.
• The true picture of mobile app download growth is majorly seen in the developed markets including China, USA and Japan.
• The low prices of smartphones in developing countries like India, Brazil, is also projected to contribute in the growth of annual application downloads.
How much time the smartphone apps are eating
• In 2015, the time spent on mobile apps achieved a great inflate of 63% which has never been seen in the past years.
• On the highest takeaway, the communication apps are eating much of the time of users.
• The time spent on Media & Video category grew by 93% whilst the time spent on shopping and transport were raised by 160% and 123% respectively.
The above insights about mobile app economy is clearly concluding that the digital media is highly relying on the smartphone apps. The need of adopting the smartphone application have become the centralized focus of all the small as well as large businesses. In future, smartphones would be probably the only primary device to access internet.
Your job doesn’t get finished with the creation of application, it is also important to be familiar with the latest mobile application development trends with the right marketing strategies and economical picture.
Thus, it’s the time to utilize the true value of mobile applications for the successful growth of your business.
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The post is originally published at TheNineHertz technology blog.