New findings from App Annie suggest that mobile users are spending more money on apps, in-app purchases, and mobile commerce. In 2016, the mobile app economy globally was $1.3 trillion; by 2021, that will expand to $6.3 trillion.
App Annie also projects that consumer spend across all mobile app stores will grow to reach $139 billion in 2021. Apple's App Store will remain the largest contributor in terms of app store purchases, growing to over $60 billion in 2021. Meanwhile, global in-app advertising spend is set to nearly triple in size from $72 billion in 2016 to $201 billion in 2021.
Mobile commerce is the primary source of growth of the mobile and app economy. App Annie expects that a person will spend an average of $946 on mobile commerce by 2021, an increase from $344 per person that was spent in 2016.
In terms of usage, App Annie projects that mobile users will spend upward of 3.5 trillion hours using mobile apps by 2021.
The research firm also found that more than 65 percent of mobile users installed at least one app in May 2017, challenging the notion that users have stopped downloading apps on mobile devices.
Additional key findings from the reports include:
- Travel apps increased up to 75 percent in most countries analyzed and gamers are increasing their time in games to three hours per day.
- In countries such as South Korea, Mexico, Brazil, Japan, and India, mobile users are spending more than four hours per day in apps.