Travel - Western Asia
Western Asia- The Travel market in Western Asia is anticipated to witness impressive growth in the coming years.
- According to projections, the total revenue in this market is expected to reach US$3.13m by 2022.
- Furthermore, the market is projected to exhibit a steady annual growth rate of 11.47% (CAGR 2022-2027), resulting in a market volume of US$5.44m by 2027.
- When examining the revenue sources within the Travel market, it is estimated that in-app purchase (IAP) revenue will reach US$1.14m in 2022.
- Additionally, paid app revenue is projected to reach US$710.40k, while advertising revenue is expected to reach US$1.28m in the same year.
- Moreover, the number of downloads within the Travel market is projected to reach 23.62m downloads in 2022.
- Currently, the average revenue per download is estimated to be US$0.13.
- In a global context, it is worth noting that United States leads in revenue generation within the Travel market, with a projected revenue of US$444.90m in 2022.
- This highlights the significant contribution of the United States to the overall market.
- Key regions:
- Germany,
- South Korea,
- United States,
- Europe,
- Asia
Definition:
The Travel market contains apps that make it easier to book trips and accommodations. For example, the Booking.com and Airbnb apps allow users to reserve hotels or apartments through a few simple clicks and provide numerous recommendations, photos, and customer reviews. Major airlines such as United Airlines also have their own apps that streamline the process of booking flights and offer points and rewards for travel.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).
