Consumer spending habits during the pandemic lockdowns were quite high, but as of mid-2022, the market seems to be normalizing. Having said that, all the reports suggest that the video games market will continue to grow and per Sensor Tower data, overall in-app spending will grow at a 12% compound annual growth rate (CAGR).
Related: Sensor Tower Report: Honor of Kings tops the charts again in May 2022
The report suggests that the market will see a 77% increase in consumer spending via in-app purchases. In 2021 mobile players spent approximately $132 billion across Apple’s App Store and Google Play, and in 2026 Sensor Tower expects this number to reach $233 billion.
Non-game apps to pass mobile games by 2026
Sensor Tower expects a steady increase in revenue generated by mobile games, and games will still dominate the market as the single highest-grossing category on App Store, and most likely on Google Play too. However, there’s a catch: The report says non-game applications will represent the majority of spending by 2026.
The market will continue to normalize and mobile games won’t cover more than half of the market anymore perhaps, but the market itself is still growing. While there’s a rising demand for apps, specifically in business and medical categories, mobile games will still top the charts for the next five years it seems.
This, of course, means there’s even more room for non-game opportunities on the mobile market with a higher CAGR compared to gaming. You can read the full report here.
