Global downloads and consumer spend have smashed all previous app economy records according to the latest App Annie quarterly app store report. Global iOS and Google Play combined downloads grew more than 10% year-over-year to 27.5 billion – the highest of any quarter. Global iOS and Google Play combined consumer spend grew 22% year-over-year to $18.4 billion.
Both of these figures should encourage app businesses, especially since the downloads figure only reflects initial installs and does not include re-installs or app updates.
The consumer spend figure also only includes the money generated from paid apps, in-app purchases or in-app subscriptions and not revenue earned in the app economy which is a much larger figure and includes revenue flowing through third-party Android stores, m-commerce (e.g. ride-sharing, shopping) and in-app advertising).
- There were over 6.2 million apps available across both iOS and Google Play at the end of Q1 2018
- The average smartphone user spends nearly 3 hours a day in apps and accesses close to 40 apps per month.
- Quarter over quarter, iOS narrowed the global downloads gap with Google Play by 10%.
- Google Play narrowed its worldwide consumer spend gap with iOS in Q1 2018 by 10% quarter over quarter, resulting in the smallest percentage difference since Q1 2016.