Finance - Russia

Russia

The Finance market in Russia is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach US$5.90m by 2022.
This represents a substantial increase in comparison to the previous years.
The Finance market is anticipated to maintain a steady growth rate, with an annual growth rate (CAGR 2022-2027) of 9.94%.
This growth is expected to drive the market volume to reach US$11.68m by 2027.
When examining the revenue sources within the Finance market, in-app purchases (IAP) are projected to contribute significantly.
It is estimated that the revenue from in-app purchases will reach US$2.23m in 2022.
This highlights the increasing popularity of in-app purchases within the Finance market.
Furthermore, paid app revenue is expected to play a considerable role in the Finance market.
It is projected to reach US$0.26m in 2022.
This indicates a growing demand for paid apps within the Finance market sector.
Another significant revenue source in the Finance market is advertising.
The revenue generated from advertising is projected to reach US$3.41m in 2022.
This highlights the importance of advertising as a means of generating revenue within the Finance market.
Moreover, the number of downloads within the Finance market is expected to increase substantially.
It is projected to reach 29.69m downloads in 2022.
This demonstrates the strong interest and engagement of users within the Finance market.
In terms of average revenue per download, it is currently estimated to be US$0.20.
This metric provides insights into the profitability of each download within the Finance market.
When comparing the Finance market in Russia to global trends, it is worth noting that in the United States generates the highest revenue.
In 2022, it is projected to generate US$580.10m.
This showcases the dominance of the United States in the global Finance market.
Overall, the Finance market in Russia is poised for growth and is expected to witness significant revenue increases in the coming years.
The projected revenue figures indicate a positive outlook for this market segment in Russia.

Key regions: India, Europe, Japan, China, Germany

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.