Shopping - Baltics

Baltics

The total revenue in the Shopping market of the Baltics is projected to reach US$5.07m in 2022.
This represents a significant figure for the country's shopping industry.
Moreover, it is expected that the total revenue will experience an annual growth rate, known as the Compound Annual Growth Rate (CAGR), of 11.19% from 2022 to 2027.
This positive growth trend is anticipated to result in a projected market volume of US$9.21m by 2027, indicating the potential for further expansion in the Baltics' shopping sector.
When examining the revenue breakdown within the Shopping market, it is projected that in-app purchase (IAP) revenue will reach US$29.29k in 2022.
This revenue stream reflects the popularity of in-app purchases among consumers in the Baltics.
Additionally, paid app revenue is expected to reach US$7.22k in 2022, indicating the willingness of consumers to invest in paid applications within the Shopping market.
Another significant revenue source within the Shopping market is advertising revenue, which is projected to reach US$5,035.00k in 2022.
This highlights the importance of advertising for businesses operating in the Baltics' shopping industry.
By effectively utilizing advertising strategies, companies can tap into the market's potential and increase their revenue.
In terms of user engagement, the number of downloads within the Shopping market is projected to reach 0.71m downloads in 2022.
This indicates the active participation of consumers in the digital shopping landscape of the Baltics.
Furthermore, the average revenue per download is currently expected to amount to US$7.14, reflecting the value generated from each download in the Shopping market.
When comparing the revenue generated in different countries, it is noteworthy that in China dominates the global Shopping market.
In 2022, in China is projected to generate a staggering revenue of US$10,100.00m.
This figure highlights the vastness of the Chinese market and its significant contribution to the global shopping industry.
Overall, the projected revenue and growth rates in the Shopping market of the Baltics demonstrate the country's potential and attractiveness for businesses operating in this sector.
With the right strategies and market understanding, companies can capitalize on the Baltics' shopping market and drive further growth and success.

Key regions: China, Asia, Germany, United States, South Korea

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.