Photo & Video - Lithuania

Lithuania

The revenue forecast for the Photo & Video market in Lithuania indicates that it is projected to reach US$2.15m by 2022.
This estimate suggests a promising growth trajectory for the market.
Additionally, an annual growth rate (CAGR 2022-2027) of 10.10% is expected, which would result in a projected market volume of US$3.67m by 2027.
These numbers signify the potential for substantial expansion in the coming years.
Within the Photo & Video market, specific revenue streams are also projected to experience significant growth.
In-app purchase (IAP) revenue is forecasted to reach US$1.55m in 2022, indicating a strong demand for digital content and additional features within the market.
Paid app revenue is expected to reach US$0.29m in the same year, highlighting the willingness of consumers to invest in premium applications.
Additionally, advertising revenue is projected to reach US$0.32m in 2022, showcasing the market's appeal to advertisers seeking to reach a wide audience.
Furthermore, the number of downloads in the Photo & Video market is estimated to reach 7.16m downloads in 2022.
This figure demonstrates the high level of interest and engagement within the market.
Currently, the average revenue per download is expected to amount to US$0.30, indicating the value that consumers place on the content and services provided.
In a global comparison, it is noteworthy that in China generates the highest revenue in the Photo & Video market.
In 2022, in China's revenue is projected to reach an impressive US$5,627.00m.
This statistic highlights the size and importance of the Chinese market within the Photo & Video market industry.
Overall, the Photo & Video market in Lithuania shows promising growth potential, with various revenue streams and a substantial number of downloads contributing to its success.
As the market continues to evolve and adapt to consumer demands, it is expected to witness further expansion in the coming years.

Key regions: Germany, Japan, South Korea, India, 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.