The global mobile apps market is expected to slow down in its growth in 2022.
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While the size of the app market grew tremendously in the past two years, partly due to the pandemic, global mobile apps market is expected to slow down in its growth in 2022.
According to SafeBettingSites.com, the global app market is expected to increase by just 5.7% in 2022. In comparison, the global app market had grown by 25.7% in 2021.
Revenue from advertising
As per the data available on Statista, the global app market is expected to produce $420.73bn in revenue in 2022.
The majority of the revenue is expected to come from advertising, with advertising earning $214.9bn for mobile apps, accounting for 51% of the total revenue.
In-app purchases would contribute $200.6bn in revenue, whereas revenue from paid apps should account for only $5.23bn. It must be noted that most of the paid app revenue comes from games.
Market size has doubled
The annual revenue from mobile app markets was just $215.86bn. Hence, the market size has almost doubled in the next four years.
In 2019, the annual revenue increased to $253.02bn, indicating a 17% growth. However, the real spurt in the growth came in 2020 when the market grew by a massive 25%, and the annual revenue became $316.6bn. The market sustained the growth rate in 2021 as it grew further by 25.7%, with $397.94bn in revenue.
However, the annual growth rate is expected to drop. The mobile app market is expected to grow similarly in the next few years.
As per Statista projections, the mobile app market will grow from $420.73bn in 2022 to $542.89bn in 2026. These figures represent a growth of just 29% over four years. In comparison, the market grew by 95% from 2018 to 2022.