Lifestyle - ASEAN

ASEAN

The Lifestyle market in ASEAN is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is set to reach US$44.99m in 2022.
This indicates a promising market segment within the region.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 10.12% between 2022 and 2027.
As a result, the projected market volume is estimated to reach US$68.54m by 2027.
This growth trend highlights the potential for expansion and opportunities within the ASEAN Lifestyle market.
Within the Lifestyle market, various revenue streams contribute to its overall success.
In-app purchase (IAP) revenue is projected to reach US$33.09m in 2022, demonstrating the popularity and consumer engagement with digital products and services.
Paid app revenue is also expected to play a significant role, with projections indicating a figure of US$2.51m in 2022.
This showcases the willingness of consumers to invest in premium applications within the Lifestyle market.
Additionally, advertising revenue is projected to reach US$9.39m in 2022, indicating the importance of advertising as a revenue stream in this market segment.
Such figures highlight the potential for brands and businesses to reach their target audience effectively.
Moreover, the number of downloads within the Lifestyle market is anticipated to reach 216.60m downloads in 2022.
This showcases the strong demand and user engagement within the ASEAN region.
The average revenue per download is currently expected to amount to US$0.21.
This figure provides insight into the profitability of each download within the Lifestyle market.
When comparing the global market, it is evident that in China leads in terms of revenue generation.
In 2022, in China is projected to generate US$2,591.00m in revenue within the Lifestyle market.
This highlights the dominance and market potential of the United States in this sector.
In conclusion, the ASEAN Lifestyle market is poised for growth, with projections indicating significant revenue potential.
The market's various revenue streams, including in-app purchases, paid apps, and advertising, contribute to its overall success.

Key regions: Europe, South Korea, China, Germany, Asia

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.