According to a new report from Newzoo, global app revenues are expected to reach $80.6Bn by 2020. While consumer spending in games is expected to achieve a 17.7% Compound Annual Growth Rate (CAGR), the increasing popularity of entertainment, music, and social categories, as well as consumer willingness to pay for these types of apps, will see consumer spending in apps achieve a 30.2% CAGR.
The report breaks down regional differences in revenue growth between apps and games as well as pinpointing the biggest opportunities for developers in these regions. According to the report, mature markets such as North America and Europe will see the slowest growth over the next 5 years. For game developers, China offers a promising opportunity as the online population here continues to grow, and localized content becomes available.
Download the report to learn more about the global app market and areas of opportunity for developers.
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