The pandemic’s influence on the spending habits of consumers appears to be continuing well into 2021, something that has resulted in a widespread impact on the app industry as a whole. Apps have become a focal point for people in terms of getting organized, keeping themselves entertained, staying up to date on current affairs as well as a wide range of other activities that apps can end up being specifically designed for thereby resulting in a highly accentuated user experience.
With all of that having been said and now out of the way, it is important to note that the revenue generated by apps may reach an all time high in the third quarter of 2021, as reported by Appannie. This quarter may see mobile apps receive upwards of $34 billion in revenue, a number that includes subscriptions and in game purchases and the like. This means that apps are successfully enticing consumers into spending money on whatever it is that they offer in a way that is generating consistent revenue.
This indicates a 20% year on year increase in app spends, something that will help maintain the hold that apps have over consumer spending well into the future. Quite a few individuals tried to claim that the boosted revenue of these apps was not something that would be sustainable. This is because of the fact that they thought it was a bubble that was caused by the lockdowns during the pandemic and that this bubble would eventually end up bursting just like any other bubble that has similar come about in the past.
However, the bubble has not burst yet, and chances are that it won’t really end up bursting anytime soon with all things having been considered and taken into account. This is an indicator of just how strong this sector will continue to be in the future, something that would drive further investment in this field as well as create newer and better opportunities to end up taking advantage of. The shift in consumer spending is also notable because prior to the past couple of years consumers were often hesitant to pay for things in app or to subscribe to something or the other.
Another thing to note is the disparity between app stores because of the fact that this is the sort of thing that could potentially end up influencing the decisions of app makers with regards to what app store they want to end up making their apps available on. Right now worldwide consumer app spends are almost twice as high on the Apple app store than they are on the Google Play Store which might give Google some cause for concern.
What’s more is that there is a huge disparity in the income generated by gaming apps as opposed to non-gaming apps. Gaming apps actually earn similar amounts on both the Apple App Store and the Google Play Store, but gaming app revenue takes up a far greater proportion of total app revenue in the latter than the former. Non-gaming apps on the Google Play Store just aren’t as profitable as the ones on the App Store and it will be interesting to see how things play out based on that data.
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With all of that having been said and now out of the way, it is important to note that the revenue generated by apps may reach an all time high in the third quarter of 2021, as reported by Appannie. This quarter may see mobile apps receive upwards of $34 billion in revenue, a number that includes subscriptions and in game purchases and the like. This means that apps are successfully enticing consumers into spending money on whatever it is that they offer in a way that is generating consistent revenue.
This indicates a 20% year on year increase in app spends, something that will help maintain the hold that apps have over consumer spending well into the future. Quite a few individuals tried to claim that the boosted revenue of these apps was not something that would be sustainable. This is because of the fact that they thought it was a bubble that was caused by the lockdowns during the pandemic and that this bubble would eventually end up bursting just like any other bubble that has similar come about in the past.
However, the bubble has not burst yet, and chances are that it won’t really end up bursting anytime soon with all things having been considered and taken into account. This is an indicator of just how strong this sector will continue to be in the future, something that would drive further investment in this field as well as create newer and better opportunities to end up taking advantage of. The shift in consumer spending is also notable because prior to the past couple of years consumers were often hesitant to pay for things in app or to subscribe to something or the other.
Another thing to note is the disparity between app stores because of the fact that this is the sort of thing that could potentially end up influencing the decisions of app makers with regards to what app store they want to end up making their apps available on. Right now worldwide consumer app spends are almost twice as high on the Apple app store than they are on the Google Play Store which might give Google some cause for concern.
What’s more is that there is a huge disparity in the income generated by gaming apps as opposed to non-gaming apps. Gaming apps actually earn similar amounts on both the Apple App Store and the Google Play Store, but gaming app revenue takes up a far greater proportion of total app revenue in the latter than the former. Non-gaming apps on the Google Play Store just aren’t as profitable as the ones on the App Store and it will be interesting to see how things play out based on that data.
