Shopping - Worldwide

Worldwide

The Shopping market worldwide is projected to reach a total revenue of US$24.23bn in 2022.
This represents a significant growth potential for the market.
It is expected to exhibit a compound annual growth rate (CAGR 2022-2027) of 11.65%, leading to a projected market volume of US$46.52bn by 2027.
This indicates a positive trend for the Shopping market in the coming years.
Breaking down the revenue streams in the Shopping market, it is estimated that in-app purchase (IAP) revenue will reach US$0.40bn in 2022.
This demonstrates the increasing popularity of in-app purchases among consumers in the Shopping market sector.
Additionally, paid app revenue is projected to reach US$0.05bn in 2022, further contributing to the overall revenue in the market.
Advertising also plays a significant role in the revenue generation of the Shopping market.
It is anticipated that advertising revenue will reach US$23.78bn in 2022.
This indicates the importance of advertising strategies and investments in capturing the attention of consumers within the Shopping market sector.
Furthermore, the number of downloads in the Shopping market is expected to reach 1.13bn downloads in 2022.
This highlights the widespread usage and popularity of shopping apps among consumers worldwide.
Currently, the average revenue per download is projected to be US$21.55, indicating the potential for monetization within the Shopping market.
In a global comparison, in China stands out as the country generating the highest revenue within the Shopping market.
It is estimated that in China will generate US$10,100.00m in revenue in 2022.
This showcases the strong presence and market dominance of in China in the Shopping market sector.
Overall, the Shopping market worldwide is poised for growth, with various revenue streams and a significant number of downloads contributing to its expansion.
It will be interesting to observe how the market evolves and adapts to consumer preferences and technological advancements in the coming years.

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.