Smartphones are playing an increasingly important role in consumers’ lives, which has accelerated in the last few months.
The data presented shows that consumers globally are projected to spend $133 billion on mobile apps and games in 2021 for Google Play and the App Store. App Store spending ranks highest at $85.1 billion, while spending on Google Play apps and games is $47.9 billion.
According to the data, users spend around $370 million daily, equating to $11 billion monthly for mobile apps and games in 2021. Cumulative spending for 2021 shows a growth of 19.71% compared to last year’s $111.1 billion.
The amount of in-game spending we encountered in 2021 is seen as a continuation of the results of the COVID-19 pandemic we met in 2020. The increase in user expenditures and the increasing number of downloads prove this.
As the world moves towards normalization, the increase in spending and downloads shows that the trends created last year continue to evolve as they are etched into consumers’ daily lives. Initial signals were that pandemic-induced changes in consumer spending would take longer than quarantines to continue to impact mobile trends.
Overall, the pandemic, which has forced most people to work from home, has increased interest in mobile apps that help people shop, work, learn, play, exercise, among others. However, previous assumptions regarding a general reopening of the economy thanks to ongoing vaccination efforts were that smartphone growth might stall once the pandemic is under control, but the data points in the opposite direction.
As smartphone usage continues to rise, most businesses are leveraging smart devices to provide various services. In particular, companies that focus on mobile devices seem to be one step ahead of their peers. For example, banking and investment services are mainly carried out through mobile applications and provide great convenience to consumers.
We’ve also seen App Store spending significantly higher for the past two years, but Google Play is making strides to catch up.
Mobile games have become part of the genre that has spurred the smartphone industry over the past year. Consumers turned to mobile games with the quarantine to have fun and spend time. Demand has prompted many publishers to invest more in mobile games and helped kickstart the effort to bring the console experience to smartphones.
With the demand for mobile games, publishers have started to work on switching to alternative payment methods such as credit/debit cards, direct operator billing, and the use of popular digital wallets.
