News & Magazines - Western Asia

Western Asia

The News & Magazines market in Western Asia is set to achieve a significant milestone, with projected total revenue reaching US$12.81m in 2022.
Experts anticipate a steady annual growth rate (CAGR 2022-2027) of 14.46%, which would result in a substantial market volume of US$26.71m by 2027.
Within the market, in-app purchase (IAP) revenue is projected to reach US$0.58m in 2022, indicating a strong demand for digital content.
Furthermore, paid app revenue is expected to reach US$0.06m , demonstrating the willingness of consumers to invest in high-quality news and magazine applications.
Advertising revenue, a critical component of the News & Magazines market, is predicted to reach US$12.17m in 2022.
This signifies the significance of advertising as a revenue stream for news and magazine publishers in Western Asia.
The market's growth is further reflected in the projected number of downloads, which is expected to reach 3.26m downloads in 2022.
As a result, the average revenue per download is estimated to be US$3.93 , indicating the value consumers place on accessing news and magazine content through digital platforms.
In a global context, it is worth noting that in the United States leads in terms of revenue generation, with an expected revenue of US$4,425.00m in 2022.
This highlights the dominant position of the United States in the News & Magazines market worldwide.

Key regions: Japan, Europe, India, Germany, United States

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.