Advertising has made major revenue by earning $214.9bn for mobile apps accounting for 51% of total revenue in 2022.
While the size of the app market grew tremendously in the past two years, partly due to the pandemic, the global mobile apps market is expected to slow down in its growth in 2022.
According to reports, the global app market is expected to increase by just 5.7% in 2022 compared to the 25.7% growth in the global app market in 2021.
As per the data available on Statista for revenue on advertising, the global app market is expected to produce $420.73bn in revenue in 2022.
The majority of the revenue was through advertising, with advertising earning $214.9bn for mobile apps, accounting for 51% of the total revenue.
However, In-app purchases would contribute $200.6bn in revenue, whereas revenue from paid apps should account for only $5.23bn. It must be noted that most of the paid app revenue comes from games.
The annual revenue from mobile app markets was just $215.86bn. Hence, the market size will almost double in the next four years.
In a recent report, in 2019, the annual revenue increased to $253.02bn, indicating a 17% growth. However, the real spurt in the growth came in 2020 when the market grew by a massive 25%, and the annual revenue became $316.6bn. The market sustained the growth rate in 2021 as it grew further by 25.7%, with $397.94bn in revenue.
However, the annual growth rate is expected to drop. The mobile app market is expected to grow similarly in the next few years.
As per Statista projections, the mobile app market will grow from $420.73bn in 2022 to $542.89bn in 2026. These figures represent a growth of just 29% over four years. In comparison, the market grew by 95% from 2018 to 2022, especially during the pandemic.