App - Caribbean
Caribbean- The App market in the Caribbean is expected to witness significant growth in the coming years.
- By 2022, the total revenue in this market is projected to reach US$139.00m.
- This is supported by an annual growth rate of 10.57%, resulting in a projected market volume of US$232.40m by 2027.
- Within the App market, in-app purchase (IAP) revenue is expected to reach US$45.91m in 2022.
- Additionally, paid app revenue is projected to reach US$2.63m in the same year.
- Advertising revenue in the App market is also expected to contribute significantly, reaching US$90.49m in 2022.
- Furthermore, the number of downloads in the App market is projected to reach 362.30m downloads in 2022.
- Currently, the average revenue per download is expected to amount to US$0.38.
- Comparing these figures globally, it is noteworthy that China generates the highest revenue in the App market, with an estimated US$162.90bn in 2022.
- This highlights the significant market potential and competition within the industry.
- Overall, the App market in the Caribbean is poised for growth, with various revenue streams contributing to its expansion.
- As technology continues to advance and consumer demand for mobile applications increases, the market is expected to thrive in the coming years.
- Key regions:
- China,
- United States,
- Europe,
- Germany,
- Asia
Definition:
The App market constitutes the sale of software applications that can be downloaded, installed, and run on mobile devices. More specifically, it refers to apps that can be downloaded from Apple, Inc.'s App Store and the Google Play store (or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore) and which can be installed and run on iPhones and Android phones.Structure:
We track 20 non-game categories and 15 game categories that are found in both Apple Inc.'s App Store and the Google Play store.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
