Lifestyle - Southern Asia

Southern Asia

The Lifestyle market in Southern Asia is anticipated to witness significant growth in the coming years.
According to projections, the total revenue in this market is expected to reach US$58.83m by 2022.
Moreover, it is estimated that the market will continue to exhibit a steady annual growth rate of 10.77% from 2022 to 2027, resulting in a projected market volume of US$91.40m by the end of this period.
When examining the different revenue streams within the Lifestyle market, it is forecasted that in-app purchase (IAP) revenue will contribute a significant portion, reaching US$43.34m in 2022.
Additionally, paid app revenue is projected to generate US$1.41m in the same year.
Furthermore, advertising revenue is estimated to reach US$14.09m by 2022.
The number of downloads in the Lifestyle market is also expected to experience substantial growth, with a projected figure of 0.67bn downloads downloads in 2022.
Currently, the average revenue per download is anticipated to amount to US$0.09.
In terms of global comparisons, it is worth noting that in China generates the highest revenue in the Lifestyle market.
It is projected to reach a staggering US$2,591.00m in 2022.

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.