Lifestyle - South Africa

South Africa

In 2022, the projected total revenue in the Lifestyle market in South Africa is expected to reach US$9.70m.
This represents a significant market value within the country's Lifestyle market.
Looking ahead, the market is projected to experience a steady annual growth rate (CAGR 2022-2027) of 9.39%, resulting in a projected market volume of US$13.77m by 2027.
Breaking down the revenue sources within the Lifestyle market, in-app purchase (IAP) revenue is projected to reach US$7.64m in 2022.
This indicates a strong consumer interest in purchasing within the Lifestyle market apps.
Paid app revenue, on the other hand, is projected to reach US$0.35m in 2022, reflecting a smaller share of the market.
Nonetheless, this revenue stream is expected to contribute to the overall revenue in the Lifestyle market.
Another revenue source in the Lifestyle market is advertising revenue, which is projected to reach US$1.71m in 2022.
This suggests that advertisers are recognizing the potential of the Lifestyle market to reach their target audience.
In terms of user engagement, the number of downloads in the Lifestyle market is projected to reach 16.03m downloads in 2022.
This indicates a high level of interest and engagement with Lifestyle market apps among South_African consumers.
Currently, the average revenue per download in the Lifestyle market is expected to amount to US$0.60.
This metric provides insights into the revenue generated per individual download, highlighting the value that users place on the content or features provided by Lifestyle market apps.
When comparing the South African market to global trends, it is worth noting that in China generates the highest revenue in the Lifestyle market.
In 2022, the projected revenue in China is estimated to be US$2,591.00m.

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.