Books & Reference - Caribbean

Caribbean

The Books & Reference market in the Caribbean is expected to generate a total revenue of US$2.72m in 2022.
This market segment is projected to experience an annual growth rate of 13.38% (CAGR 2022-2027), resulting in a market volume of US$5.32m by 2027.
Within the Books & Reference market, revenue from in-app purchases (IAP) is projected to reach US$0.52m in 2022.
Additionally, revenue from paid apps is expected to reach US$0.08m in the same year.
Advertising revenue in this market segment is projected to reach US$2.13m in 2022.
Furthermore, the number of downloads in the Books & Reference market is projected to reach 5.00m downloads in 2022.
Currently, the average revenue per download is estimated to be US$0.54.
When compared globally, it is noteworthy that in China generates the highest revenue in the Books & Reference market, with an estimated amount of US$3,063.00m in 2022.

Key regions: Germany, United States, China, India, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

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.