The usage of mobile applications has become a major part of the world that we live in. We use apps to wake us up in the morning, communicate with our friends, share social content, play games, play music, order food, also even to order transportation and send money to our friends. People are becoming entrepreneurs just by launching apps based on innovative ideas. Most people don’t fully understand how quickly the world is changing...
Some people have pets that were born before the first iPhone as it was 10 years ago (June 29, 2007). In a rather extremely short period of time mobile apps have indeed become an integral part of our everyday lives. It is estimated that the average smartphone user spends around 5 hours everyday using apps (TechCrunch). I’m sure many of us see it as one of the perks of living in the 21st century, considering apps are only so popular because they make our lives easier.
Over time the development of Android and iOS smartphones and app markets have enabled people to distribute mobile apps to virtually the entire world. Now everyone has a smartphone that has a number of different apps installed. It is estimated that the average smartphone user has anywhere between 60-90 apps installed on their device. So the point to be taken here is that mobile apps have upscaled from being installed for limited uses like a calculator, radio, clock etc. to a diversity of uses like chatting, audio/video calling, cloud data saving and maps etc. So today we are going to talk about the direction that the mobile app market is heading moving into the year of 2018. It will be based on different statistical data like revenues, downloads, number of apps in the market, etc.. So without further ado, let’s dive in:
Revenue Generated By the Mobile
App Market
Just about every mobile user likes to keep a variety of apps that help improve their lives. Some apps are available for free and some are for purchase. The apps that are available for free usually have embedded ads to earn money. On the other hand some apps like games which are free to download also contain in-app purchases. When you spend money on or in an app, you are earning money for the owners and the App Store. Below are the different revenue amounts that were generated by the mobile app market.
• The mobile app revenue recorded in 2016 globally was $88 Billion.
• The revenue generated by paid mobile apps in 2017 was recorded $29 Billion.
Taking a look at the revenue generated by
in-app purchases then it is also not behind. In 2017, the global in-app purchases recorded a revenue of $33 Billion, leaving the revenue of
paid apps way behind.
The above statistics are eye openers the size of the app market, but that’s not it. Like I mentioned earlier, apps are only 10 years old and this craze has only just begun. By 2020 it is forecasted that the mobile app revenue which was $88 Billion in 2016 will reach $189 Billion. The potential off mobile apps over the next decade is limitless.
(Source: Statista)
Mobile App Downloads
We all know that the mobile app market has dominated the world and currently everyone has apps on their smartphone. It is clear that thousands or more apps are being downloaded on a daily basis. So let’s look at the numbers then:
• The total number of iOS apps downloads that were recorded in 2016 was
more than 25 Billion.
(Source: App Annie)v
• In the Android world, there was a big surprise recorded in 2016 in the number of app downloads. The total number of Android Apps downloads were recorded approximately 90 Billion. It is more than triple of the number of app downloads in the App Store.
(Source: App Annie)
• And if we talk about the cumulative app downloads globally, then it was recorded as 197 Billion in 2017. And not just that, the number of downloads is forecasted to increase to 352.9 Billion in 2021.
(Source: Statista)
Number of Apps Available in the
Mobile App Market
When it comes to availability and reach on mobile apps, then there are two giants which are usually and often accessed by users. Yes, you have guessed it right, those giants are:
• Google Play Store and the Apple’s App Store. Both of these app stores go neck and neck regarding app downloads, availability and revenue generation. The number of apps available in both stores as of 2017 is:
Google play encompasses more than 2.8 million apps as recorded in March 2017.
• About 1,250 apps are added to the
Google Play Store daily.
• On the other hand, Apple’s App Store has more approximately 2.2 million apps available as recorded in Jan 2017.
Estimated 60,000 new apps added to App Store each month.
Seeing both of these giants, it is clear that the availability and usage of apps in 2018 is going to increase as we continue to make technological advances and the smartphone continues to be accepted as a part of our everyday lives.
(Source: Statista)
Mobile App Market in 2018
After seeing the facts and figures mentioned above it is clear that the mobile app market is here to stay and will only grow as we move into the future. With the development of technologies such as artificial intelligence and virtual reality we are moving into a place with an infinite amount of possibilities. I don’t know about you, but I’m certainly excited to see what the mobile app world will grow into along the way. Apps will continue to improve our lives by connecting us with the people we care about or even simply saving us time by helping us complete daily tasks faster. In 2018 there will be a flood of new apps into the market, and like always the best designed and developed, most creative and practical apps will win the attention of the users. Big companies like Facebook aren’t going anywhere, but there will always be room for new ideas and creative solutions to existing problems faced by users today. The people that will win, are the people that are able to think outside the box and adapt to change as the world we live in changes ever so quickly.
