Since Apple’s “There is an app for that” campaign, the mobile app industry has come to a long way. Even now the $77 billion mobile app industry has got a lot of room to bring in the profit share. It’s been more than 7 years since Android and Apple have made their prominence in the mobile app development domain. Both these OS have brought greater innovations in the related industry and there is still a huge room to bring more add-ons in this field.
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Be it Android or iOS, there is an app for everything we humans need. Either it is about ordering your favorite food from a nearby restaurant or getting your favorite apparel from an online store, there are specific apps available for every such requirement.
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Take a Look at, from where we have Started and what Future the Mobile App Industry Holds:
The current worth of mobile app industry combining the share of both Android as well as iOS is near $77 billion. And, the wonderful news about the same is, there is still a lot of growth room available! An average mobile app user nearly spends 30 hours a month on mobile apps. Some of the users do not even hesitate to get the subscription for the paid apps, contributing more to the overall profit.
Appdexa’s Global Survey Claims That:
- 46% of app users have the paid subscriptions for the apps they interact with the most.
- By 2020 Mobile Apps are expected to generate $188 billion revenue.
- iPhone App development companies alone generate $25 billion business.
- From 2015 to 2017, the mobile app shares have grown 7%.
The In-App Future of Android/iOS Applications
Mobile apps generally make money from 3 distinctive monetization techniques:
- In-App Purchases.
- Paid Apps.
All these distinctive approaches have equally contributed towards increasing the mobile app profit but the future for the time being lies in the in-app purchases.
The total revenue of the In-App purchases for the last year was:
- $24 billion, which shows the huge profit this domain earns.
- Expected to grow to whopping $37 billion.
Some more stats:
- 2016 stats include 40% app revenue from “In-App” purchases.
- The stats for “In-App” purchases is expected to grow to 48% in the current year.
The Future of Apps Lies in On-Demand Apps
The future of mobile apps may move towards the growth of on-demand applications. There is a huge possibility that apps grow exclusively in their service-based approach in the near future. You must have encountered apps like Uber and Instacart. The USP of these apps is serving specifically to the demand of the specific audience. The clients can enjoy the actual value from these apps in the real environment.
Irrespective of the future of the mobile app industry, one thing is sure that the mobile app development companies are sure to make booming profits. In the past few decades, the growth in the economical as well as the functional approach of the apps has grown exceptionally well.
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Best of luck with your mobile app development endeavor!