Mobile application market is likely to expand by 2020
Posted: Feb 18,2016
In 2016, the gross return of the global mobile app store is bound to touch $51 billion. This amount is likely to cross $101 billion by 2020. The two key factors driving such expansion are the ability of a mobile app to acquire more wallet share in developed economies and a powerful adoption of apps in economies that are still developing.
Various mobile data reports depict more than 280 billion downloads to be achieved by predicting the doubling of installed base around the globe within 5 years preceding 2020.
Leadership in terms of gross revenue is to be retained by the iOS App Store till 2017. The revenue to be generated by third-party android store and Google Play are likely to get past the gross revenue of iOS App Store at that point. The industry reports show the proliferation of android devices to be the primary reason behind this change.
With the increase in games revenue, mobile apps are bound to draw revenue worth 2-4 times from 2015 onwards. Such an increase of revenue will account for a little over 25% of app store revenue on the whole.