App - Colombia

Colombia

The Colombian App market is expected to witness significant growth in the coming years.
By 2022, the total revenue in the App market is projected to reach US$433.30m.
This indicates a strong potential for economic expansion in the country's digital sector.
Furthermore, the App market is anticipated to exhibit an annual growth rate of 9.45% between 2022 and 2027, resulting in a projected market volume of US$719.00m by 2027.
This steady growth trajectory highlights the increasing popularity and demand for mobile applications among Colombian consumers.
In terms of revenue streams within the App market, in-app purchases (IAP) are expected to generate US$103.40m in 2022.
This revenue source demonstrates the willingness of Colombian app users to make in-app purchases, indicating a potentially lucrative market for developers and businesses.
Paid app revenue is also projected to reach US$20.11m in 2022.
This indicates that despite the availability of free apps, there is still a market for paid applications in Colombia.
Advertising revenue in the App market is expected to reach US$309.70m in 2022.
This revenue stream highlights the effectiveness of mobile advertising in reaching Colombian app users and presents an opportunity for businesses to promote their products and services.
The number of app downloads in the Colombian market is projected to reach 1,982.00m downloads in 2022.
This high volume of downloads reflects the increasing adoption of mobile applications among the Colombian population.
Currently, the average revenue per download is expected to amount to US$0.22.
This metric indicates the average amount of revenue generated from each app download, showcasing the potential profitability of the Colombian App market.
When compared globally, it is worth noting that in China generates the most revenue in the App market, with an estimated revenue of US$162.90bn in 2022.
This emphasizes in China's dominant position in the global app economy.
In summary, the Colombian App market is poised for growth, with significant revenue potential across various revenue streams.
The increasing number of downloads, coupled with the willingness of Colombian app users to make in-app purchases and engage with mobile advertising, presents a promising landscape for both domestic and international app developers.

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

Market

Region

Region comparison

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.