(Reuters) – Apple Inc’s customers could spend more on non-gaming mobile applications by 2024, data analytics firm SensorTower said Monday, as the lifestyle of the exclusion leads users to look outside of games for applications that help with more essentials services.
Downloading business, education, health and fitness apps has seen a sharp rise due to the stay-at-home measures during the health crisis.
During the first days of the pandemic, users spent more on mobile games in the App Store. But as the locks expanded, and working life continued to improve, as did the ways of communication, their attention shifted to photos and video sharing, appointments, video conferencing, and instant messaging.
Shares of companies such as Zoom Video Communications Inc and Match Group and other home businesses soared last year.
According to SensorTower, consumer spending on mobile applications will total $ 270 billion globally over the next five years, a more than threefold increase over 2020.
Apple customers will spend their Android counterparts, and the App Store is expected to generate $ 185 billion in global revenue, the data analytics firm said.
Revenue from games will have a relatively higher share in Google Play Store than the App Store, with a predicted 71% share of games in 2025 compared to 42% in the App Store.
The data analytics firm expects Europe to become a major market over the next five years, with mainland revenue growth likely to be greater than that in Asia and North America.
Downloads in Europe are expected to grow to 36.9 billion by 2025 from 28.4 billion in 2020, while revenue growth is expected to more than double to $ 42 billion in the next five years.
Reporting by Eva Mathews and Subrat Patnaik in Bengaluru; Edited by Arun Koyyur