App Annie Sees 33 Percent Growth in Consumer Spend in App Stores This Year

App Annie, a respected mobile app data and insights company, recently shared with MMW the findings of its second annual App Store Forecast Report, which projects global app store growth for the next five years.

In the report summary provided, App Annie forecasts consumer spend on apps to reach $139 billion in revenue in 2021 as maturing markets see strong growth in gross app store spend per device and increases in in-app subscriptions.

The five largest mature markets, which include the U.S., China, Japan, South Korea, and the United Kingdom, are expected to account for 85% of global consumer spend in 2021. Meanwhile, emerging markets, particularly India, Mexico, Brazil and Indonesia, are projected to fuel downloads in mobile app stores.

Additionally, the report notes that global downloads across all mobile app stores are forecasted to increase 20 percent annually, reaching 352 billion in 2021.

“Apps are transforming the way consumers interact with products, services, content and brands, across verticals globally,” said Danielle Levitas, SVP of Research, App Annie. “Apps are creating an intimate, highly-personalized environment for brands to engage with users. Consumers are already spending twice as much time in apps than they did two years ago, which means it is increasingly critical for companies to build a successful business on apps if they haven’t already.”