Monday Morning Metrics: Global App Market Will Be $64 Billion by 2020

In today’s Monday Morning Metrics, new research from AppsFlyer gives insight into the growth of the mobile app market industry and some of the key trends that are helping to fuel this success. 

Mobile app measurement provider, AppsFlyer, recently released new research into the growth of the app market. There are no more than 3 million apps for the android platform and 2 million for iOS. As consumers spend more time within apps, this marketplace is set to grow quickly over the next few years.

The first step in app marketing is to get your app installed. AppsFlyer has predicted that global app install ad spend is predicted to climb by 65% from 2018 and reach $64.1 billion by 2020.

North America is the biggest market for app install spending. Growth will double by 2020 and reach $12.9 billion.

Mobile app growth overall is driven by these market factors:

• Around 44% of all non-organic installs are from gaming and shopping apps
• In terms of all app installs, gaming apps are about 40% of the total
• The new innovation in hardware and software will continue the cutting edge nature of apps and enable new, immersive experiences for app developers to engage users
• Shopping apps are fast becoming the connecting link between online and offline user engagement for retailers. Shopping app developers are using techniques learned from cutting-edge gaming apps (such as gamification) are pushing the envelope and this category is the next frontier for brands to truly gain a competitive edge.
• Video and audio streaming apps (i.e. Netflix, HBO, Hulu, and Spotify) will continue to garner more consumer media attention and add growth to the app marketplace