Utilities - Peru

Peru

The Utilities market in Peru is expected to experience significant growth in the coming years.
By 2022, the total revenue in this market is projected to reach US$5.29m.
This growth is driven by various factors, including the increasing demand for utility services and advancements in technology.
Furthermore, it is anticipated that the total revenue in the Utilities market will continue to grow at an annual growth rate of 10.41% from 2022 to 2027, resulting in a projected market volume of US$7.90m by 2027.
This growth reflects the country's expanding economy and the rising importance of utility services in meeting the needs of its population.
When examining the revenue sources within the Utilities market, it is projected that in-app purchase (IAP) revenue will reach US$4.33m in 2022.
This indicates the growing trend of consumers utilizing in-app purchases within utility-related applications.
Additionally, paid app revenue in the Utilities market is projected to reach US$0.17m in 2022.
This demonstrates the willingness of consumers to invest in utility applications that offer enhanced features and functionalities.
Moreover, advertising revenue in the Utilities market is expected to reach US$0.78m in 2022.
This reflects the increasing presence of advertisements within utility applications as businesses recognize the value of reaching consumers through this digital platform.
In terms of user engagement, the number of downloads in the Utilities market is projected to reach 111.90m downloads in 2022.
This signifies the high demand for utility-related applications among consumers in Peru.
Furthermore, the average revenue per download in the Utilities market is expected to amount to US$0.05.
This metric highlights the financial value generated by each download, indicating the potential profitability of utility applications in Peru.
When comparing the revenue generated in the Utilities market globally, it is worth noting that in China leads the way with projected revenue of US$1,674.00m in 2022.
This underscores the significant market size and economic influence of in China in the utility sector.
Overall, the Utilities market in Peru is set to experience substantial growth in the coming years, driven by factors such as increasing demand, technological advancements, and evolving consumer preferences.

Key regions: China, Japan, Asia, United States, Europe

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.