App Annie: Mobile App Market Revenue to Reach 1.2 Trillion by 2020, with Games Accounting for 55%

In its latest report, App Annie forecasts that the mobile app market will reach US$189 billion in 2020, up 170% from last year's US$70 billion. Meanwhile, gaming apps will account for 55 percentage points of total revenue from mobile app stores.

However, while game publishers will continue to earn the majority of revenue, advertising will drive the revenue share of non-gaming app publishers from 34% (US$24 billion) in 2015 to 45% (US$85 billion) in 2020. App Annie forecasts that, by 2020, in-app advertising revenue and app store revenue will each exceed their combined revenue in 2015.

App Annie attributes the growth in revenue from in-app advertising and app stores mainly to two key factors. The first is a significant increase in the time users spend on apps: it forecasts that time spent using mobile apps will rise by 114 percentage points over this period, after doubling over the past two years. The second is that the global installed base of smartphones and tablets will double to 6.2 billion devices by 2020.

“Today, app publishers can come from any industry, extending beyond game studios and media and entertainment companies. Banks, retail stores, airlines, ride-sharing services and government agencies are all releasing their own apps,” App Annie writes in its report. “To harness the tremendous growth of the app economy, publishers need to prepare to capture future market opportunities when developing business plans covering areas such as product launches, performance targets, overseas expansion and portfolio management.”

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