The mobile app market continued to grow in 2020 despite the coronavirus outbreak, with downloads of new apps increasing 7% year over year to 218 billion, according to a report. Consumer spending on app stores also drove 20% year-over-year growth. The expansion of app downloads and the use of smartphones has dramatically increased mobile ad spending. It has indeed helped app developers increase their income at a time when many professionals around the world have lost their jobs due to the pandemic.
Consumer spending on app stores including Google Play, Apple’s App Store and third-party app stores reached $ 143 billion (roughly Rs 10.45.988 crore) in 2020, the company said. app Annie mobile analysis in its annual report on the state of the mobile. Spending was led by China, followed by the United States and Japan.
Time spent on mobile devices has also increased significantly in 2020 – due to the COVID-19 pandemic that has locked most of the world’s population in their homes. App Annie’s report mentions that, especially in the United States, time spent on mobile was 8% more than time spent watching live TV. Consumers around the world have spent up to 3.5 trillion hours, especially on Android phones, the company noted.
In India, the average number of hours spent on mobile per day increased from 3.3 hours to 4.6 hours in 2019. Similar trends have been observed in markets such as China, Japan, South Korea and the UK, among others.
The increase in time spent on mobile devices has not been limited to a certain demographic. App Annie pointed out that in the United States in particular, Gen Z, Gen Y, and Gen X / Baby Boomers spent 16%, 18% and 30% more time, respectively, year over year. . However, there were differences on which apps certain demographics spent the most time.
Snapchat, Twitch, TikTok, ROBLOX, and Spotify were the apps most likely to be used among Gen Z users, while Gen Y preferred Discord, LinkedIn, PayPal, Pandora Music, and Amazon Music. The Gen X / Baby Boomers, on the other hand, have spent the most time on Ring, Nextdoor, The Weather Channel, Kindle and ColorNote Notepad Notes, according to the firm.
Among other apps, TikTok excluded major social apps with annual growth of up to 325% in hours per user. This growth came regardless of the ban in India and criticism of the government in markets, including the United States. App Annie predicts that TikTok is on track to reach 1.2 billion active users in 2021.
However, WhatsApp has led the race in markets like India. The average time spent on the instant messaging app in the country rose to 21.3 hours per month from 17.2 hours in 2019.
The growth in time spent and App Store downloads has also helped developers earn more in 2020. App Annie mentioned in the report that 25% more app developers earn over $ 2 million (around Rs. . 14.62 crores) per year via the App Store. Apple also recently announced its program to reduce its commission rate from 30% to 15%. This move would help 97% of developers who monetize through the App Store.
The mobile application market has also attracted investors. Global funding for mobile technology companies from 2016 to 2020 more than doubled from the previous five years, App Annie reported. Investment capital invested in mobile phone companies also increased 27% year over year to reach $ 73 billion (roughly Rs 5.33.939 crore), particularly in 2020.
In terms of mobile games, casual games have dominated the market with 78% of total game downloads. Among us, ROBLOX and My Talking Tom Friends were among the most downloaded games. The mobile gaming market is also believed to be on track to break through the $ 120 billion mark (roughly Rs 8.77.728 crore) in consumer spending in 2021.
Along with mobile gaming, financial apps grew 45% year-over-year in the world outside of China in 2020. The case was different in China, however. This was due to new legislation in the area of peer-to-peer lending, App Annie noted.
As people mostly stayed indoors in 2020, the annual report shows that 40% of overtime is broadcast on mobile. YouTube saw up to six times the time spent per user compared to the next closest app. It also ruled the market in terms of average time spent per user per month, according to the report.
Business apps, such as Zoom and Google Meet, also saw a 275% increase in the fourth quarter, with people largely starting to work from home and embrace the concept of distance learning.
Facebook topped the list of top apps with most monthly active users globally, with its native app taking the top spot followed by WhatsApp, Facebook Messenger and Instagram. However, TikTok became the most downloaded app in 2020, followed by Facebook, WhatsApp, and Zoom.
On the gaming front, PUBG Mobile led the market in terms of the most monthly active users. Candy Crush Saga, Ludo King and Among Us came second, third and fourth. However, Free Fire tops the download chart, followed by Among Us, Subway Surfers, and PUBG Mobile.
Tinder became the leading app with the most consumer spending during the year, while in terms of mobile games, Honor of Kings beat the competition.
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