Business - North America

North America

The projected total revenue in the Business market in North America is expected to reach US$1.02bn by 2022.
This estimate takes into account various factors and trends in the industry.
It is also anticipated that the total revenue will continue to grow at an annual rate of 11.99% (CAGR 2022-2027), resulting in a projected market volume of US$1.91bn by 2027.
In the Business market, the projected revenue from in-app purchases (IAP) is expected to reach US$451.10m in 2022.
This indicates the revenue generated from purchases made within the apps themselves.
Additionally, the revenue from paid apps in the Business market is projected to reach US$9.60m in 2022.
This revenue represents the income generated from users purchasing the apps directly.
Advertising revenue in the Business market is also expected to contribute significantly to the overall revenue.
It is projected to reach US$557.30m in 2022.
This revenue is generated from advertisements displayed within the Business market apps.
The number of downloads in the Business market is projected to reach 458.90m downloads in 2022.
This figure represents the total number of times Business market apps are downloaded by users.
Furthermore, the average revenue per download is expected to be US$2.22.
This metric indicates the average amount of revenue generated per app download.
In a global comparison, it is noteworthy that in China leads in revenue generation within the Business market.
The projected revenue from in China alone is estimated to be US$994.70m in 2022.
This figure highlights the significant contribution of the United States to the overall revenue in the Business market.

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

Market

Region

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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.