In brief
The global app economy is forecast to reach US$6.3 trillion by 2021, with mobile e-commerce contributing US$6 trillion. App Annie also expects user numbers to nearly double and total time spent on apps to more than double from 2016 levels.
According to US technology media outlet ReCode, a report published by app analytics firm App Annie indicates that the global mobile app economy will reach US$6.3 trillion within five years, an increase of nearly 400% from US$1.3 trillion in 2016.
More people are spending more time and money on apps. Although the number of apps downloaded per person has not increased, the report forecasts that, over the next five years, the number of app users worldwide will nearly double, rising from 3.4 billion in 2016 to 6.3 billion in 2021. Time spent on apps will also more than double, increasing from 1.6 trillion hours in 2016 to 3.5 trillion hours in 2021.
The report also forecasts that global app spending per person, including in-app purchases, advertising expenditure and e-commerce, will reach US$1,008 in 2021, an increase of 160% from US$379 last year.
Mobile e-commerce has become the app economy's biggest growth driver. In 2016, purchases made through mobile apps accounted for 90% of the global app economy. This share is expected to rise to 95% by 2021, reaching US$6 trillion.
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