(Reuters) – Apple Inc. customers could end up spending more on non-gaming mobile apps by 2024, SensorTower data analytics said on Monday as blockchain lifestyles result in users looking beyond of games to applications that help with more essential services.
Business, education, health and fitness applications have seen a strong increase due to measures to stay at home during the health crisis.
In the early days of the pandemic, users spent more on mobile games in the App Store. But as blockchains have expanded, lifting professional life and ways of communicating, their attention has shifted to photo and video sharing applications, meetings, video conferencing, and instant messaging.
Shares of companies such as Zoom Video Communications Inc and Match Group and other home-based companies rose last year.
SensorTower said consumer spending on mobile apps will reach $ 270 billion over the next five years globally, more than threefold over 2020.
Apple customers will outperform their Android counterparts with the App Store, which is expected to generate global revenue of $ 185 billion, the data analytics firm said.
Revenues from games will continue to have a relatively higher share in the Google Play Store than the App Store, with an estimated share of 71% of games in 2025, compared to 42% in the App Store, data show.
The data analytics firm expects Europe to become a key market in the next five years, with revenue growth on the continent likely to outpace that of Asia and North America.
Downloads in Europe are expected to grow to 36.9 billion by 2025, compared to 28.4 billion in 2020, while revenue growth is expected to double to $ 42 billion over the next five years.
Reporting by Eva Mathews and Subrat Patnaik in Bengaluru; Editing by Arun Koyyur