According to a new report from App Annie, consumer spending across all the major app platforms will hit over $110 billion starting in 2018. This means that spending on apps will see a 30 percent increase over money shelled out in 2017, with China, Brazil, and India leading the way for countries that purchase the most in these stores. China, especially, is a country to watch in the market for the emergence of mobile apps and app development companies. Their growth outpaces all the other markets and they are on the top of the market for spending in the iOS store for Apple products.
India and Brazil have great opportunities for the emergence of mobile app markets and app development company strongholds because a great number of their population still do not own smartphones. But they already have such large spending power, and as soon as the more rural areas begin to buy smartphones, these markets will explode and the emergence of app development companies will become even more rapid paced. It is no surprise that this is such a fast paced market, with the technology really having exponential growth. As more and more of the world gets smartphones, apps are becoming indispensable parts of our daily lives.
Games, especially, saw a growth and are paving the way for the emergence of mobile apps and app development companies. AR apps, as they are known, are very popular with users and apps like Harry Potter: Wizards Unite and MLB.com's At Bat are really taking off in both the App Store as well as the Play Store. But it’s not the only games that are responsible for the emergence of mobile apps. Subscription based apps are really raking in the money. Monthly fees for apps keep consumers obligated to continue paying for services on their device. With that app companies continue to make money off of their products. These products include weight loss apps, mindfulness apps, fitness apps, and productivity apps. Instead of a one-time purchase, users pay repeatedly to keep using the services which in return help them in their daily needs.
Streaming video apps, like Netflix and Hulu, are among the most popular apps as well. Many people use these apps to watch the most popular shows these days on the go. With the popularity of TV shows and movies, it is no wonder that users want to have this technology at their fingertips. With these streaming apps alone, an increase of purchases on iOS by 85 percent and on Google of 75 percent was seen. This just goes to show how much people really want to be connected to the popular shows and movies of today.
The emergence of mobile apps and app development companies is a very obvious reaction to more and more people buying and using smartphones. Apps make our lives easier and more organized — also offering a respite from the stressors of daily life. The mobile app market — including strides made by app development companies — is just getting started and we can certainly expect to see exponential growth in the future — especially in markets like China and India.