According to a report, despite the outbreak of coronavirus, the mobile app market is growing steadily in 2020, with new app downloads increasing by seven percent year-on-year. Consumer spending on app stores also increased by 20 percent year-on-year. The expansion of app downloads and smartphone usage has significantly increased mobile advertising spending. This has helped app developers to increase their earnings at a time when many professionals around the world lost their jobs due to an epidemic.
Mobile analytics firm App Annie said in its Mobile State report that consumers spent $ 143 billion (about Rs 10,45,988 crore) on spending on Google Play, Apple’s App Store and third-party app stores in 2020. This expenditure was led by China, followed by the US and Japan.
Time on mobile devices also increased significantly in 2020 – due to the COVID-19 epidemic, which locked most of the world’s population into their homes. App Annie’s report noted that especially in the US, time spent on mobile was eight percent higher than the time spent on watching live TV. Consumers in particular spent 3.5 trillion hours on Android phones, which the firm noted.
In India, the average hours spent on mobile per day increased from 3.3 hours to 4.6 hours in 2019. A similar trend was observed in other markets including China, Japan, South Korea and the UK.
The increased time spent on mobile devices was not limited to a certain demographic. App Annie underlined that in the US in particular, Gen Z, Millennials and Gen X / Baby Boomers spent 16 percent, 18 percent and 30 percent more time year-over-year, respectively. However, there were some differences, with some demographics spending the most time.
Gen Z was the most likely app to use Snapchat, Twitch, Tickcock, ROBOLX, and Spotify among users, while Millennials preferred Discord, LinkedIn, PayPal, Pandora Music and Amazon Music. On the other hand, Gen X / Baby Boomers spent most of their time on the Ring, NexDetour, The Weather Channel, Kindle and ColorNote Notepad notes, according to the firm.
Among other applications, TikTok has overtaken top social apps with an annual growth rate of up to 325 percent per hour. The increase came despite restrictions in India and criticism from the government in markets including the US. App Annie reported that Tickcock is on track to reach 1.2 billion active users in 2021.
However, WhatsApp led the race in markets including India. The average time on instant messaging apps in the country increased from 17.2 hours in 2019 to 21.3 hours per month.
Spending time and increasing App Store downloads also helped developers earn more in 2020. App Annie noted in the report that 25 percent more app developers earned more than $ 2 million (about Rs 14.62 crore) per year through the App Store. Apple also recently announced a program to reduce its commission rate from 30 percent to 15 percent. The move will help 97 percent of developers who earn through the App Store.
The mobile app market also attracted investors. According to App Annie’s report, global funding to mobile technology companies has more than doubled from 2016 to 2020. Capital invested in mobile companies also grew by 27 percent year-over-year to $ 73 billion (approximately Rs. 5,33,939 crore), most notably in 2020.
In terms of mobile gaming, casual games dominate the market with 78 percent of total game downloads. Among us, ROBLOX, and My Talking Tom Friends were among the most downloaded games. The mobile gaming market is also being considered on track to cross the $ 120 billion (around Rs 8,77,728 crore) mark in 2021 in consumer spending.
Along with mobile games, finance apps saw a 45 percent increase worldwide outside China in 2020. The case was different in China. App Annie noted that this was noted because of the new law in the peer-to-peer lending space.
As most people were living indoors in 2020, the annual report shows that 40 percent more hours flow on mobile. YouTube saw a six-fold increase in time per user compared to the next closest app. According to the report, it ruled the market even in the average time spent per month per user.
Business apps, including Zoom and Google Meet, saw a 275 percent increase in the fourth quarter as people began working from home on a large scale and embraced the concept of distance education.
Facebook has dominated the list of top apps with the most monthly active users around the world, with WhatsApp, Facebook Messenger and Instagram gaining the first place in its monthly app. However, TikTok emerged as the most downloaded app in 2020, followed by Facebook, WhatsApp and Zoom.
On the gaming front, PUBG Mobile led the market in terms of being the most monthly active user. Candy Crush Saga, Ludo King and second, third and fourth came between us. However, Free Fire topped the downloads chart, followed by Subway Surfers and PUBG Mobile among us.
Tinder emerged as the leading app with the highest consumer spending in the year, while in the case of mobile games, Honor of Kings beat the competition.
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