Mobile Application Development Statistics: 5 Facts
The boom in a stay-at-home economy in 2020-2021 has seen a dramatic increase in mobile app downloads, making it one of the most lucrative business opportunities. Worldwide, there are approximately 3.2 billion smartphone owners. This number is only growing. According to estimates, the number of smartphone users worldwide will reach 7.5 billion in 2026. This shows just how lucrative Mobile Application Development can be. In the last two years, mobile app revenues worldwide have increased dramatically from 461 billion in 2019 to 639 billion by 2021.
Mobile apps are expected to generate global revenues of over 100 billion by 2024, making them one of the most lucrative industries. These growth rates are absurd, and the market continues to expand as more people get smartphones.
We will be looking at some incredible statistics in the Mobile Application Development industry today and discussing why you might want that seemingly endless source of income.
Millions of Apps
AppStore offers up to 2,000,000 applications that users can download. Google Play boasts a staggering 3,4 million apps. This gap could be explained by AppStore's strict policies about which apps can be featured on the store.
You'll have a highly saturated market with 660,000 apps available on Windows Store and 460,000 apps from Amazon Appstore.
What percentage of these apps provide any value to the user? This is a difficult question to answer because there are so many apps that don't even have reviews, so it's safe to assume that most are useless.
This is great news for anyone who wants to create an app that makes a real difference and offers something useful to its users. However, it's important to recognize how saturated the market is and how difficult it may be to stay on top.
Creating a unique application that makes users feel special isn't easy. It is important to have a team of experts who can help you get your Mobile Application Development project off the ground.
Intersog can help you hire mobile app development specialists!
App downloads keep growing
Statista reports that more than 218 million apps were downloaded worldwide by users in 2020, compared to 204 billion in 2019. For the past decade, people have downloaded more apps each year than the previous one.
Most people have a smartphone. You are likely to download and delete apps frequently. You can download apps for everything: apps for taxis, food delivery, utilities, mobile shopping, apps for business, apps for games, apps to network, apps for social media, e-commerce, and payment apps.
Certain apps will stay on your phone forever - particularly useful apps that are vital to your personal and professional lives. These apps are high-value and generate the highest income for their creators. Or, users can download millions of apps and then delete them immediately because they don't meet modern standards or have other problems.
Millions of apps get deleted
It's not enough to understand why users download your app. Apps that are deleted within 7 days of being installed will be uninstalled by 56%. There are many reasons why someone would delete an app. It is impossible to pinpoint one reason and fix all of them.
Why you should uninstall the app
- If the app takes up too much memory on their phones, 50.6% will uninstall it.
- The registration process can be complicated, and users might uninstall the app after the first day.
- 29.6% of users deinstall the app because of security and privacy concerns or questionable privacy and security policies.
- 71% of users will delete the app due to the annoying notifications.
- 62% of users would delete the app due to performance issues, such as crashes, freezes, and other errors.
- 20% of users will delete an app that consumes too much data.
Users might have other reasons to uninstall an app, but most would be subjective. Users might get bored with the app or decide to find another one. You cannot control certain things, and you may lose some users.
The mobile app industry statistics are crucial to understanding your customers and how you can keep them around.
Remember that your mobile experience will significantly impact how your customers perceive your brand. A poor app experience will lead to 65% of users expressing negative opinions about your brand.
Your app must perform high if you want customers to interact with your business via mobile apps.
This is where the key goal lies: make your app as user-friendly and perfect as possible. You also want to retain users who are coming back faster than those who have left.
You should also pay attention to these points:
- Your app should run smoothly on all devices.
- Your readers will be able to set up the application in minutes with simple instructions or an intuitive interface.
- If possible, make the registration process as quick and easy as possible.
- Do away with redundant notifications. Only bother users when necessary.
- Do not overload your app with too many functions. It can confuse users and may also cause app performance problems.
- You can localize the app to multiple languages.
There are many ways to keep your app on users' phones for longer. To make sure this happens, you need to make it great. A team of professionals is required to create an engaging, useful, and optimized app for different devices.
Intersog can help you hire the best mobile developers to get your project started.
Leading Business Verticals
Mobile devices are now the primary platform for Internet browsing, shopping, and other business activities. The average American spends 4.5 hours per day using their mobile device. This does not include calls. Your smartphone can do everything you need, including shopping, commerce, business communication, and social media.
Numerous business verticals have now been able to reap the benefits of mobile apps. Mobile Application Development are more beneficial to certain industries than others. If you're in one of these areas, it might be worth investing in mobile app development.
Fintech and banking
Banking and Fintech were downloaded more than 4.6 billion times in 2020. This represents a 15% increase in downloads compared to last year.
Deliveries, Food, Restaurants
In 2020, food and drink delivery apps were downloaded 400 million times. This is an increase of 20% compared to 2019.
In Q2 2021, 10.6 million apps were downloaded. This is 81% more than the same time in 2019. People seem to be returning to travel as the world recovers after the pandemic.
The pandemic is the obvious reason people download these apps more. People need to manage their finances, but they don't have to go to the bank. They order more food delivery, and as the pandemic slows down, they want to get away from it all and rest somewhere.
These statistics on the mobile application industry should not be unexpected, as users' needs influence the state and growth of the industry. These needs have changed dramatically due to global events.
Mobile advertising generates billions
Since the inception of the Internet, digital advertising has been a major driver of business growth. In-app advertising has become a huge industry thanks to smartphones and in-app ads.
The in-app advertising market generates billions of dollars annually, and it will not slow down anytime soon, judging by the direction of the mobile app industry.
Here are some key statistics about ad revenue.
- Global mobile advertising spending reached $276 billion in 2020
- The US alone saw mobile advertising spend to reach $113 billion
- Facebook's advertising revenues reached $84 billion
- Google advertising revenue reached $147 billion
What's the point? Can you tap into that vast pool of money? Yes, you can. Yes. If your app is well-known enough, you can make an incredible income from ad revenue.
The industry and the operating system that your app uses will affect the mobile advertising rates. Although the cost per thousand impressions (or Cost-per-Mile) is a term used by marketing professionals to describe the cost of advertising, we can still provide solid numbers.
- Global CPM range iOS rewarded videos - $1.96 to $14.5
- Global CPM range Android rewarded videos - $1.59 to $11.4
- Global CPM range iOS interstitial ads: $2.27 to $9.64
- Global CPM range Android interstitial ads: $3.1 to $10.11
- Global CPM range iOS banners: $0.16 - 0.38
- Global CPM range iOS banners $0.16- $0.52
These data points will give you an idea of the potential revenue from in-app advertising. Your application must be attractive enough to users. If your app is popular, you may be able to request a higher CPM from any brands that wish to advertise in your application.
The following chart will help you decide if in-app advertising is worth your time. Mobile advertising is more popular than any other media.
Mobile advertising is huge, and it's easy to see why smartphones will become even more popular.
Mobile Application Development statistics show that people spend more time using their smartphones, download millions of apps, and consume many ads. Marketers are willing to pay for these ads, which could be quite lucrative.
You are likely to reach the right audience for any app, given the projected increase in smartphone users to 7.5 billion in the next 5 years. You don't necessarily want to create any app. You want an app that will impact the market, engage thousands or thousands of users, and make you a prominent player in your chosen niche.
Manmohan is the author of NogaTech IT Solutions LLC blog content, Software Developer, Freelancer on Upwork. Manmohan created NogaTech Software Development Company and write its all technical blogs. He brings his decade of experience to his current role where he is dedicated to educating and inspiring the world how to become better technical writer and also offers development. You can find him on Linkdin @ Manmohan-Yadav.
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