App - Baltics

Baltics

The App market in the Baltics is expected to experience significant growth in the coming years.
According to projections, the total revenue in the App market is set to reach US$65.43m in 2022.
This figure represents the combined revenue generated by various sources within the market.
The market is expected to continue growing at an annual growth rate of 8.37% from 2022 to 2027, resulting in a projected market volume of US$104.40m by 2027.
This growth can be attributed to various factors such as increased smartphone usage, advancements in technology, and changing consumer preferences.
Within the App market, in-app purchase (IAP) revenue is projected to reach US$20.11m in 2022.
This revenue is generated through purchases made within the app, such as additional features, virtual goods, or subscriptions.
Paid app revenue, on the other hand, is expected to reach US$1.34m in 2022.
This revenue is generated through the purchase of apps themselves, typically through app stores.
Advertising revenue is also a significant source of income in the App market.
It is projected to reach US$43.98m in 2022.
This revenue is generated through advertisements displayed within apps, such as banners, videos, or sponsored content.
In terms of user engagement, the number of app downloads is projected to reach 115.50m downloads in 2022.
This figure represents the total number of times apps are downloaded by users within the Baltics.
When considering the average revenue per download, which currently stands at US$0.57, it is important to note that this figure represents the average amount of revenue generated per download across all sources within the market.
In a global comparison, it is interesting to note that in China generates the highest revenue in the App market, reaching a staggering US$162.90bn in 2022.
This highlights the significant market potential and importance of the App market industry in China.
Overall, the App market in the Baltics is projected to experience substantial growth in the coming years, driven by various revenue sources and increasing user engagement.

Key regions: China, United States, Europe, Germany, Asia

Market

Region

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Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.