It’s quite clear that consumers are in no mood of joking around in terms of various apps being launched. The news comes as Q1 for 2023 comes near to a close and that’s where this study highlighted some key trends that viewers may have missed.
As per the study, today’s global app market continues to display some huge signs of resilient behavior. And when you consider how unpredictable the current economic situation is at this moment in time, the industry deserves all the more credit.
Mobile users are predicted to spend more funds across various app stores during this first quarter of 2023. It’s very different from what you might see in other quarters with record figures going as far as $33 billion.
But the past has proven to us how trends are not always positive as seen in the previous Market Pulse Report for their third quarter of 2022.
There was a huge decline YoY during this time. And we can safely conclude that this might stand for a correction in Q1 of this year. Moreover, it’s interesting how it's getting shared through two mobile formats, both iOS and Google Play. The former saw a 4% year-on-year growth while the latter witnessed a great 6% growth.
After that, you saw iOS produce $21.7 billion while Google Play grossed nearly $12 billion.
When you compare that to Apple users, they’re really spending so much more money than Android users. Moreover, iOS was seen accounting for 65% of the total app store outlays with this figure getting higher in non-gaming applications.
iOS represents a staggering 71% share. So as you can tell, this sector is really getting support from the huge demand for subscriptions on the app with the sudden emergency of popular apps that make use of them including Calm.
As far as which categories were seen making it bigger than usual, the answer is Gaming, Entertainment, and Social had people spending the most on them. Moreover, both Editors and Video Players including House and Home as well as Health and Fitness had big QoQ growth of between 20 to 21%.
When compared region-wise, it’s countries like the US, South Korea, and Japan that had consumers spending the greatest number of resources.
This rise in consumer spending for this quarter comes with slow and steady growth in terms of downloads. As a whole, consumers are downloading 38 billion apps in this quarter of 2023 and that’s second to what we saw in Q3 of 2022.
Furthermore, the study revealed how the biggest rise took place on the likes of iOS which saw installs rise 12% YoY to nearly 9 billion.
As expected, the applications which led the market in terms of spending included those that are deemed to be the most popular among users today. And no surprise here to guess that ByteDance’s TikTok cemented its lead. Similarly, the Chinese parent firm’s CapCut even made it big too as people spent the most on both these platforms.
Read next: Global Consumer Spending Grows Thanks to Entertainment Apps
by Dr. Hura Anwar via Digital Information World
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