• Home
  • Apps
  • Apps News
  • App Spend Across App Store, Google Play Will Reach $156 Billion by 2023: Sensor Tower

App Spend Across App Store, Google Play Will Reach $156 Billion by 2023: Sensor Tower

Share on Facebook Tweet Share Reddit Comment
App Spend Across App Store, Google Play Will Reach $156 Billion by 2023: Sensor Tower

App Store for iOS currently earns more than Google’s Play Store

Highlights
  • App spends on the two key platforms is estimated at $72 billion in 2018
  • This could rise to $156 billion by 2023
  • The figures don’t take into account spending in China

Apps are big business for the companies that run the two biggest app distribution platforms, Apple and Google. The App Store for iOS and the Google Play Store for Android together accounted for $72 billion in user spending on apps in 2018, but this number is expected to go up significantly over the next few years. According to a new report, user spending on these two platforms will hit $156 billion by 2023, indicating that the app industry is looking at massive growth in the near future.

The report by intelligence and analytics firm Sensor Tower forecasts a total growth of around 120 percent for the app market over the next few years, with Apple staying ahead of Google in numbers. The App Store for iOS is expected to account for $96 billion of the total, while the Google Play Store will likely account for $60 billion in user spends on apps. The figures don't take into account spending on third-party app stores for Android devices in China, where the Google Play Store isn't used.

App spending is traditionally higher on iOS because of the typical higher pricing of the devices and the popularity of these phones in developed markets. While Android accounts for larger numbers when it comes to devices, this doesn't translate into higher spending on apps. Users in developing markets such as India and China are unlikely to spend as much on apps, instead relying largely on free apps and games.

sensor tower app spends chart Sensor Tower

Currently, the Asia-Pacific region comprising of China, India and South-East Asian countries accounts for the largest chunk of spending, and is said to see 90 percent growth till 2023 to remain in front among markets. However, the highest percentage growth will come from Latin America, Africa, and the Middle East, which will see growth well in excess of 200 percent.

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and subscribe to our YouTube channel.

Ali Pardiwala

Ali has over eight years of experience in the technology space, specialising in writing about all kinds of audio gear and TVs. He’s reviewed all kinds of headphones, speakers, audio gear, and televisions over the years, and is the in-house expert on all gadgets with screens and audio drivers. He is of the firm belief that truly wireless earphones are the future, and will always recommend a 4K TV, but not necessarily a smart TV. In his spare time, Ali likes to watch TV shows and movies ...More

Samsung Galaxy S10e Review
Godzilla: King of the Monsters Trailer — a Mash-Up Seemingly Made Up Entirely of VFX Shots
 
 

Advertisement

 

Advertisement

© Copyright Red Pixels Ventures Limited 2019. All rights reserved.