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Global mobile apps market to grow by only 6% in 2022

14th Aug 22 3:22 pm

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.

However, according to the numbers presented by 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.

The app market to bring $420.7bn in revenue in 2022

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 will earn $214.9 billion in advertising, accounting for 51% of the total revenue. In-app 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 increased to $253.02 billion, 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 $316.6 billion. The market sustained the growth rate in 2021 as it grew further by 25.7%, with $397.94 billion in revenue.

However, the annual growth rate is expected to drop down to 5.7% in 2022. 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 $420.73 billion in 2022 to $542.89 billion in 2026. These figures represent a growth of just 29% over four years. In comparison, the market grew by 95% from 2018 to 2022.

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