(Reuters) – Apple Inc. customers could end up spending more on non-gaming mobile apps by 2024, data analytics firm SensorTower said on Monday as blocking lifestyles make users search beyond games to applications that help with more essential services.
Business, education, health, and fitness app downloads have experienced a sharp rise due to home stay measures during the health crisis.
During the early days of the pandemic, users spent more on mobile games in the App Store. But as blockchains widened, working life and forms of communication increased, their focus shifted to apps for sharing and photographing videos, dating, video conferencing, and instant messaging.
Shares of companies such as Zoom Video Communications Inc and Match Group and other companies that stayed home increased last year.
SensorTower said consumer spending on mobile apps will reach $ 270 billion over the next five years globally, more than tripling compared to 2020.
Apple customers will spend their Android counterparts with the App Store expected to generate $ 185 billion in global revenue, the data analytics firm said.
Gaming revenue will continue to have a relatively higher share in the Google Play Store than in the App Store, with a projected share of 71% of games in 2025 compared to 42% in the App Store, according to the data shown.
The data analytics firm expects Europe to become a key market over the next five years, with revenue growth on the continent likely to outpace that of Asia and North America.
Downloads in Europe are expected to grow to 36.9 billion in 2025, compared to 28.4 billion in 2020, while revenue growth is expected to double to $ 42 billion over the next five years.
Reports of Eva Mathews and Subrat Patnaik in Bengaluru; Edited by Arun Koyyur