App analytics firm App Annie has released a new report on the overall situation of the app industry. By the end of next year, the global app spend will reach $110 billion, according to the report. This represents a rise of 30% over the year before.
Developing Markets Pushing Growth
Much of this growth will be occuring in developing markets namely China, India and Brazil. China, which is already the top market in terms of app spending worldwide, will further increase its lead at the top with its growth rate.
The number of markets that will generate above $100 million in app revenue will go above 40 as well. In more mature markets, more consumers will spend more than an average of an hour a month on shopping apps.
Google Play Store is outpacing the iTunes App Store in terms of total app count by almost double, having 3.5 million apps compared to the Apple store’s 2 million. In October alone, apps launched on the Play Store were thrice as much as the App Store, at 150,000 vs. 50,000.
Future in AR?
Trends to look out for in the future include AR, which is already seeing an increasing level of attention thanks to iPhone’s recent developments and the increasing level of content on app stores.
While games have usually seen the majority of growth, regular applications will beat them next year. This will mostly be due to the subscription based model. Even more options will be available for Mobile payments, as retailers like Walmart join the fold.
Lastly, streaming apps will get a boost in popularity, with 31% of the users having at least four streaming apps on their phone. Needless to say, people are consuming more content than ever on their phones.