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Mobile app consumer spending to hit $2 trillion from 2021-2030 recently unveiled its Mobile App Market Forecast 2030 report, predicting a remarkable $2.2 trillion in revenue within the mobile app economy from 2021 to 2030. The forecast anticipates a 267% surge in in-app spending, reaching $288 billion in 2030 alone. Concurrently, app downloads are expected to skyrocket, with consumers projected to download nearly 2.9 trillion new apps and games between 2021 and 2030, marking a 123% increase from the previous decade.

The report also highlights a significant increase in mobile device usage, with consumers expected to spend over 58 trillion hours on their devices over the decade, translating to nearly 16 billion hours per day. Historically, the gaming sector has led in revenue generation, driven by enthusiastic gamers investing in their leisure pursuits. Publishers have incentivized spending through strategies like in-game events and avatar customization.

However, non-gaming apps are poised for substantial growth, expected to outpace gaming apps in consumer spending by 2030. The report predicts that annual spending on apps will hold a 50.3% share of the market by 2030, up from 37% in 2023. The global demand for Short Video apps, fueled by the proliferation of mobile devices and data accessibility, is expected to contribute significantly to this growth.

Despite the dominance of Entertainment category apps, social media platforms like TikTok, YouTube, and Instagram continue to lead in user engagement. The report forecasts that Social and Entertainment apps will surpass 4.8 trillion hours in 2030, exceeding the total time spent in all apps in 2022.

The report also highlights the significant contribution of users in developing markets to the app economy's growth. While mature markets are expected to dominate spending, regions like Central America, South America, and Africa are projected to experience impressive growth rates, showcasing the global impact of the mobile app revolution.

Source: adapted from an article by Sophie Blake, Author for Mobile Marketing Reads.

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