Navigation - Western Asia
Western Asia- The Navigation market in Western Asia is expected to achieve a significant milestone as total revenue is projected to reach US$4.05m in 2022.
- This projection indicates a positive growth trend, with an anticipated annual growth rate (CAGR 2022-2027) of 12.25%.
- As a result, the market volume is expected to reach US$7.21m by 2027.
- Within the Navigation market, in-app purchase (IAP) revenue is projected to reach US$1.56m in 2022, reflecting the growing trend of users making purchases within navigation applications.
- Furthermore, paid app revenue is also expected to contribute to the market's growth, reaching US$405.10k in the same year.
- Advertising revenue within the Navigation market is anticipated to play a significant role, projected to reach US$2.08m in 2022.
- This highlights the importance of advertising as a revenue stream within this market segment.
- In terms of user engagement, the number of downloads within the Navigation market is projected to reach approximately 13.82m downloads in 2022.
- This signifies the increasing popularity and demand for navigation applications in Western Asia.
- Currently, the average revenue per download stands at US$0.29, reflecting the economic value generated by each individual download.
- A global comparison reveals that China leads the way in terms of revenue generation within the Navigation market, with an estimated revenue of US$439.80m in 2022.
- This underscores China's significant market presence and economic influence within the Navigation market industry.
- Key regions:
- Germany,
- Europe,
- Japan,
- Asia,
- South Korea
Definition:
The Navigation market covers apps that give real-time travel directions or enable the hiring of transportation services. Many of these apps have the functionality of Global Positioning Systems (GPS). The most popular GPS app is undoubtedly Google Maps, which has the best coverage and most up-to-date route recommendations. Uber and Lyft are well-known ride-hailing apps that allow users to contract drivers in their immediate vicinity to reach a physical location.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
