The mobile app development industry is growing rapidly, generating billions of dollars in income. And this is specifically due to people spending more than 90% of their time using different mobile applications.
From shopping, dating, gaming, banking, and even vehicle booking nowadays there is an app for everything. As per recent research statistics, the overall mobile app downloads reach 218 bn in 2019. And thus, it comes as no surprise that app publishers are making good revenue.
Overview of Mobile App Revenue
In spite of the Fact, that iOS has a smaller market share in comparison to Android. The fundamental reason for this is that the iPhone is extensively famous in high-income regions like Japan, the UK, and North America. Several pieces of research have indicated that people in these areas spend more time on apps.
Also, there are numerous app categories and genres on the App Store that people spend. However, gaming stands out as the biggest source of app income for Apple’s App Store.
Talking about Google Play Store, the largest markets for this app store include India, Southeast Asia, and South America. All these areas typically generate much less income per user. Also, most of the apps on the Play Store are free. The platform generates maximum income from games and in-app payments.
The Google Play Store is banned in China. But the country has generated revenue of $8 billion every year by the third-party App stores.
Statistics - Mobile App Revenue
Before diving into the chief revenue statistics information for each app store, let us look at some of the most engaging trends witnessed in the past few years.
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There are over 5 million mobile apps available on different app stores.
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The total user spending on in-app purchases worldwide has surpassed $380 billion.
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The mobile app market is continuously growing. It is anticipated to reach $935 billion in income by the end of 2023.
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iOS and Android app revenue reached $111 billion in 2020, marking a 24% year-over-year increase.
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Total user spending on the App Store is expected to attain almost $200 billion by 2025.
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One of the most popular monetization methods is in-app purchases. Approximately, 72% of all gaming apps and 50% of non-gaming apps use this model.
App Revenues
Mobile apps have become a necessary part of everyone’s life. The annual mobile app revenues have climbed up gradually from 2016 to 2020. Its growth was tremendous, from $43.5 billion in 2016 to $111 billion in 2020.
Also, the Covid-19 pandemic pressured people to remain indoors that gave worldwide mobile app revenue a huge boost. Moving on, the process of deriving revenue in Android and iOS includes in-app purchases, subscriptions, app purchases, and advertising.
iOS App Revenue
As mentioned above, Apple’s App Store conquers only 15% of the global market share.
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The annual iOS app income has jumped from 28.6 billion USD in 2016 to 72.3 billion USD in 2020.
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In 2020, users spent approximately $72 billion on subscriptions, premium apps in Apple’s App Store, and in-app purchases.
Gaming Apps Revenue
Gaming apps remain the greatest source of income for both iOS and Android. It is anticipated that Worldwide mobile gaming app revenues will jump from 90.7 billion USD in 2020 to 116.4 billion USD in 2024.
Annual iOS Gaming App Revenue
The iOS App Store beats Google Play when it comes to revenue generation through mobile application games. Let’s look at the mobile app’s main statistics. The iOS gaming app income has jumped from 23.4 billion USD in 2016 to 47.6 billion USD in 2020.
Annual iOS Non-Gaming Apps Revenue
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The annual iOS non-gaming app income has jumped from 4.8 billion USD in 2016 to 24.7 billion USD in 2020.
Annual Google Play Gaming App Revenue
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We are aware that Android captures a greater market share. Despite that, it has been unable to replicate the amount of income generated by iOS.
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The annual Google Play gaming app revenue has jumped from 14.3 billion USD in 2016 to 31.9 billion USD in 2020.
Non-Gaming Apps Revenue
Non-gaming apps do no longer fare as well as gaming apps. However, they are still able to gather a decent revenue. In fact, the annual non-gaming app revenue jumped from 5.5 billion USD in 2016 to 32.1 billion USD in 2020.
Top Apps by Revenue
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Download ratio in the Mobile App Store attained a huge surge by 2.5% in 2020. The Google Play Store surged by 30%.
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As of April 2021, one app that generated maximum revenue was Coinbase, making approximately 61 million USD, and PUBG Mobile with 37.76 million USD.
To Conclude,
When it comes to mobile apps, there are many different app categories available in the App store that generate huge amounts of income. The statistics show that mobile apps hold huge potential nowadays.
So, if you have any innovative app idea, you must get in touch with a Trioangle Minds of Technology and discuss it further.
