Utilities - Southern Europe

Southern Europe

The Utilities market in Southern Europe is projected to witness significant growth in the coming years.
By 2022, the total revenue in this market is expected to reach US$82.10m.
This indicates a positive outlook for the industry.
Furthermore, the market is anticipated to experience a steady annual growth rate of 10.50% (CAGR 2022-2027), resulting in a projected market volume of US$138.30m by 2027.
Within the Utilities market, different revenue streams are expected to contribute to the overall growth.
In-app purchase (IAP) revenue is projected to reach US$55.66m in 2022, showcasing the increasing popularity and monetization potential of this segment.
Paid app revenue is also expected to play a significant role, with a projected value of US$3.77m in 2022.
Additionally, advertising revenue is estimated to reach US$22.67m by 2022, highlighting the importance of this revenue stream in the market.
In terms of user engagement, the number of downloads in the Utilities market is projected to reach a staggering 0.56bn downloads in 2022.
This indicates a high level of demand and interest in utility-based applications.
Moreover, the average revenue per download is expected to amount to US$0.15, reflecting the value that users place on these applications.
When compared globally, it is worth noting that the highest revenue in the Utilities market is generated in China.
In 2022, it is projected to reach an impressive US$1,674.00m.
This showcases the size and potential of the Chinese market within the Utilities market.
Overall, the Utilities market in Southern Europe presents a promising landscape, with steady revenue growth and a strong user base.
These projections highlight the importance of this market segment and the opportunities it offers for businesses operating in the region.

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.