As we look towards the future, the trajectory of the app economy is more promising than ever. A recent industry forecast from Data.ai predicts remarkable growth, emphasizing the importance of investing in the mobile landscape.?
- $2.2 Trillion Revenue Projection: The app economy is on track to generate a staggering $2.2 trillion in revenue between 2021 and 2030, showcasing robust growth potential.
- Consumer Spend Surge: In-app spending across the app stores is expected to grow by 267% over the next decade, with a whopping $288 billion projected to be spent in 2030 alone.
- Increased App Downloads: Consumers are anticipated to download nearly 2.9 trillion new apps and games between 2021 and 2030, marking a significant uptick from previous years.
- Surpassing 58 Trillion Hours: Global mobile usage is projected to surpass 58 trillion hours on Android over the decade, demonstrating the enduring appeal of apps as a form of entertainment and productivity.
- Apps Outpacing Games in Revenue: While games have historically dominated consumer spending, non-gaming apps are poised to surpass games in revenue by 2030.
- Rise of OTT and Short Video Apps: Spending on Entertainment category apps, such as OTT and short videos, is set to double by 2030, driven by global demand for video content.
- Emerging Market Growth: Developing markets will drive significant growth in app usage, with consumers in regions like Central America, South America, and Africa contributing to the fastest growth rates.
Seizing Opportunities in the App Economy:
- Investing in Mobile Retargeting: With the app economy poised for exponential growth, it's essential not just for marketers to prioritize mobile marketing strategies but to capitalize on those strategies by investing in user retention activities like mobile retargeting.
- Embracing Innovation: As consumer behavior evolves, embracing innovation in mobile advertising and engagement strategies will be key to staying ahead of the curve. This includes investing in CTV channels, as video streaming continues to attract consumers. With YouAppi’s CTV Retargeting solution, marketers can link device IDs, contextual data and IPs to reach their intended audience across screens in the home to capitalize on the high growth of CTV channels.
It’s clear from these figures that the potential for growth and innovation in the app economy over the next decade is boundless. This includes retention and re-engagement strategies that capitalize on emerging channels such as CTV.?
Grow your brand, retain your customers and unlock the full potential of multi-screen app retargeting by getting in touch with our team!
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