Consumer spend on apps will reach $156.5 billion by 2022 according to the latest forecast by App Annie. Driven by a growing user base and increasing spend per device in more mature markets, average spend per consumer reached $20.94 in 2017 and is forecast to rise to $25.65 in 2022.
- Mobile device penetration will grow 56% to reach 6.1 billion by 2022, with 2 billion more mobile devices entering the global install base over the next 5 years, largely from emerging markets.
- The top 5 markets in 2022 by consumer spend are forecast to be: China, the U.S., Japan, South Korea, and Germany. By 2022, APAC will account for 64.8% of global app store spend and 72.4% of downloads.
- Spend on apps excluding games (music, video and dating for example) is forecast to grow even faster than spend on mobile games, reaching $43 billion (or nearly 28%) of app store spend in 2022.