Analyst expects mobile app store revenue to hit $100 billion by 2020

Mobile app store revenue to fly past $100 billion by 2020.

Published Feb 11, 2016 12:37 AM CST   |   Updated Wed, Jul 27 2022 3:36 AM CDT
0 minutes & 50 seconds read time

It looks like the mobile app market is doing extremely well, with a new report from App Annie expecting to see global spending reach $50.9 billion this year - with the Google Play Store to overtake the Apple App Store in 2017.

Analyst expects mobile app store revenue to hit $100 billion by 2020 | TweakTown.com

App Annie released its new Mobile App Forecast recently, predicting that worldwide mobile app store revenues would hit $101.1 billion in 2020. The analyst firm is expecting consumer spending on apps to be up 24% year-over-year at $50.9 billion this year, with these numbers including non-gaming apps, but not mobile commerce and advertising revenue.

The company expects the Apple App Store to be the single highest grossing app storefront into the near future, with $44.8 billion generated in 2020, it will be overtaken by the Google Play Store in gross revenue numbers next year, with $55.7 billion expected in 2020. Why is Android poised to take over? The report points to the huge growth of Android in emerging markets like India, Mexico, Brazil and Indonesia.

App Annie says that games make up 85% of the $41.1 billion total gross revenue, and while game revenues are expected to swell to $74.6 billion by 2020, it will only account for 74% of all mobile revenues. Subscription-based models for music, video and dating apps will continue to grow over that time, says App Annie.

NEWS SOURCE:gamesindustry.biz

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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