SAN FRANCISCO, Dec. 8, 2022 /PRNewswire/ — data.ai (formerly App Annie), the leading mobile data analytics provider, has released its annual mobile app forecasts for 2023 and beyond. One of five projections in the report reveals that time spent on mobile will surpass 6 trillion hours by 2028 — a 34% increase over five years.
Other key findings include:
- Global mobile ad spend to hit $362 Billion – Mobile will take over the share of the advertising wallet as more time is spent in apps, with total hours on track to surpass 4 trillion on Android phones alone in 2022. However, the growth of ad spend will slow to 7.5% in 2023, down from 14% in 2022, in the face of economic headwinds.
- Consumer spending in gaming will dampen: Mobile gaming is set to drop by 5% in 2022 to $110 billion and by 3% in 2023 to $107 billion due to factors such as IDFA, Google’s upcoming privacy changes, and a crackdown on fingerprinting which is set to impact user acquisition in 2023.
- Consumers will seek experiences such as travel, events, and sports: With mobile commerce paving the way, consumers will shift their share of wallet from goods to consumables and experiences as discretionary income feels the squeeze amid layoffs and the rising cost of living. Downloads of Travel and Ticketing Apps are set to head into 2023 on a 47% increase.
- Seven will join the $3 billion app club: HBO Max and iQIYI will join Disney+, Netflix, YouTube, and TikTok in the $3 billion lifetime consumer spend club for video streaming and short video apps. 14 others will join the $2 billion app club — these include: Call of Duty, Uma Musume Pretty Derby, and Bumble.
“We are starting to see a leveling off in mobile spend following the surge seen during the pandemic, although still significantly higher than where we started off in 2019. Mobile will remain at the heart of consumers’ lives as demand for digital connection, self- expression, and deepening personalization of apps will fuel sustained growth in time spent.” —Lexi Sydow, Head of Insights at data.ai
Read the full report here.
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SOURCE date.ai
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