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September 21, 2020
global app market

Report: Global App Market to Grow to $6.3 Trillion by 2021

The global app market will increase from its present level to $6.3 trillion in 2021, expanding its user base by almost double to 6.3 billion, report shows…

By 2021, the worldwide app market will rise to an estimated worth of $6.3 trillion, according to projections by app analytics firm, App Annie. The company likewise forecasts the current user base of 3.4 billion will nearly double to 6.3 billion. And, time spent in apps will grow to 3.5 trillion hours in 2021.

Global App Market to Rise to $6.3 Trillion in 2021, Report Estimates

Although mobile native apps are very popular, a relatively new phenomenon, known as “app fatigue” still poses a foreboding reality. Fewer the .01 percent of all mobile apps will return a positive ROI, being financially successful by 2018. Approximately 52 percent of all mobile apps lose at least half their peak users after just three months, according to Mobile Marketing Engine.

What’s more, the average consumer spends 70 to 80 percent of their digital time in their three most-frequently used apps, practically ignoring all others installed. A full 74 percent of all consumers report wanting to uninstall used apps. Only 1 in 10,000 apps developed break-even or are profitable.

However, there are currently 3.4 billion app users, who spent, on average, $379 in apps across all three monetization forms last year. That figure equates to 80¢ per hour, per user.

app-annie-global-app-markets
Credit: App Annie

This data seems to somewhat contradict search giant Google, which is heavy into PWAs or progressive web apps. In November of last year, the Google PWA initiative launched to combat app fatigue. PWAs or progressive web apps, combine the best features of the web and mobile native apps. PWAs are substantially faster and no download is necessary, which saves a lot of device space. 

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