App market to bring $420.7B in 2022

THE global mobile apps market is expected to slow down in its growth in 2022. The size of the app market grew tremendously in the past two years, partly due to the pandemic.

According to the numbers posted by Vyod Chaud at SafeBettingSite on August 10, however, the global app market is expected to increase by just 5.7 percent in 2022. In comparison, the global app market had grown by 25.7 percent in 2021.

As per the data available on Statista, the global app market is expected to produce $420.73 billion in revenue in 2022. The majority of the revenue is expected to come from advertising.

As per the figures, mobile apps would earn $214.9 billion in advertising, accounting for 51 percent of the total revenue. Inapp purchases would contribute $200.6 billion in revenue, whereas revenue from paid apps should account for only $5.23 billion. It must be noted that most of the paid app revenue comes from games.

The annual revenue from mobile app markets was just $215.86 billion. Hence, the market size has almost doubled in the next four years.

In 2019, the annual revenue in the mobile apps market increased to $253.02 billion, indicating a 17-percent growth. However, the real spurt in the growth came in 2020 when the market grew by a massive 25 percent, and the annual revenue became $316.6 billion. The market sustained the growth rate in 2021 as it grew further by 25.7 percent, with $397.94 billion in revenue.

The annual growth rate, however, is expected to drop down to 5.7 percent in 2022. The mobile app market is expected to grow similarly in the next few years.

As per Statista projections, the mobile app market would grow from $420.73 billion in 2022 to $542.89 billion in 2026. These figures represent a growth of just 29 percent over four years. In comparison, the market grew by 95 percent from 2018 to 2022.

Slight decline

In 2018, the revenue from advertising made up 56.3 percent of the total revenue, while inapp purchases contributed 42.4 percent of the entire sum. In 2022, the share of advertising in the total revenue is expected to drop down to 51 percent.

Meanwhile, the percentage of income from in-app purchases is expected to be 47.7 percent. Per the projections, this share distribution is expected to remain the same in the coming years.