Consumers continue to spend more on various mobile apps and games as the smartphone ecosystem expands. The spending on apps has mainly earned inspiration from the changing consumer behaviour.
Data presented by Burga indicates that consumers globally are projected to spend $133bn on mobile apps and games in 2022 for both Google Play and App Store. The App Store spend ranks the highest at $85.1bn, while spending on Google Play apps and games is $47.9bn.
Therefore, users spend approximately $370m daily, translating to $11bn monthly on mobile apps and games in 2021.
The cumulative spend for 2021 represents a growth of 19.71% from last year's figure of $111.1bn. In 2020, App Store spending stood at $72.3bn, while Google Play was at $38.8bn.
Elsewhere, 2021 mobile apps and game downloads are expected to hit 143.6 billion. Google Play accounts for the highest figure at 111.3 billion, while the App Store is at 32.3 billion. The 2021 downloads represent a slight growth of 0.48% from the 142.9 billion recorded in 2020.
In 2020, Google Play dominated downloads at 108.5 billion while App Store stood at 34.4 billion.
Shift to mobile inspires more app spending and downloads
The report explains some of the drivers influencing mobile app spending and downloads. According to the research report:
“The spending and downloads also align with mobile devices' growing purpose in running businesses. As smartphone penetration continues to grow, most businesses leverage the devices to offer various services. Notably, businesses focusing on mobile are likely to stay ahead of the competition compared to peers. For instance, banking and investment services are occurring more via mobile apps, giving consumers the much-needed convenience.”
Overall, app downloads and spending will likely surge further amid increasing smartphone and internet penetration. Furthermore, the changing consumer behaviour will influence the metrics.