(Reuters) – Apple customers may end up spending more on non-gaming mobile apps by 2024, data analytics company SensorTower said on Monday, as restricted lifestyles result in users looking beyond games, apps that help with more essential services.
Downloads of business, education, health and fitness apps have increased markedly due to measures to stay home during the health crisis.
During the early days of the pandemic, users spent more on mobile games on the App Store. But, as the blockages extended, changing professional life and also the forms of communication, his attention turned to applications for sharing photos and videos, meetings, videoconferences and instant messages.
Shares in companies like Zoom Video Communications Inc and Match Group and other domestic companies soared last year.
SensorTower said consumer spending on mobile apps will reach $ 270 billion over the next five years globally, an increase of more than three times compared to 2020.
Apple customers will spend more than their Android counterparts on the App Store, which is expected to generate $ 185 billion in global revenue, the data analysis firm said.
Game revenue will continue to have a relatively higher share in the Google Play Store than in the App Store, with a projected 71% share of games in 2025 compared to 42% in the App Store, the data showed.
The data analytics firm expects Europe to become a key market in the next five years, with revenue growth on the continent likely to exceed that of Asia and North America.
Downloads in Europe are expected to grow to 36.9 billion by 2025, compared to 28.4 billion in 2020, while revenue growth is expected to more than double to $ 42 billion over the next five years.
Reporting by Eva Mathews and Subrat Patnaik in Bengaluru; Editing by Arun Koyyur