Utilities - Worldwide

Worldwide

The Utilities market worldwide is expected to generate a total revenue of US$4.07bn in 2022.
This projection indicates a promising growth potential for the market.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 9.51% from 2022 to 2027, resulting in a projected market volume of US$6.37bn by 2027.
The Utilities market encompasses various revenue streams, including In-app purchase (IAP) revenue, paid app revenue, and advertising revenue.
In 2022, the projected In-app purchase (IAP) revenue in the Utilities market is estimated to reach US$2.27bn.
This revenue stream demonstrates the monetization potential for applications within the Utilities market.
Additionally, the projected paid app revenue in the Utilities market for 2022 is expected to reach US$0.11bn.
This indicates the revenue generated from users purchasing paid applications specifically within the Utilities market.
Moreover, advertising revenue within the Utilities market is projected to reach US$1.69bn in 2022.
This revenue stream highlights the significance of advertising within the Utilities market and the potential to generate substantial revenue through targeted advertisements.
Furthermore, the number of downloads in the Utilities market is projected to reach 18.18bn downloads in 2022.
This figure showcases the popularity and demand for Utilities market applications among users worldwide.
Currently, the average revenue per download in the Utilities market is expected to amount to US$0.22.
This metric provides insight into the revenue generated per individual download, highlighting the profitability of the market.
In a global comparison, in China leads in terms of revenue generation within the Utilities market, with a projected revenue of US$1,674.00m in 2022.
This emphasizes in China's significance in the Utilities market, showcasing its dominance in terms of revenue generation.

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.