The first prediction expects consumers to spend upwards of $122 billion in the App Store throughout next year, a figure which is double the size of the worldwide box office.
The App Store’s growth is anticipated to slow down slightly over the next 12 months because of a licensing freeze in China. However, it is still scheduled to expand five times as fast as the global economy.
Despite Google Play regularly boasting twice as many app downloads, the App Store will probably continue to pull in double the gross revenue of its nearest competitor.
A second prediction is that the number of apps monetising through in-app advertising will grow by 60%.
The current digital advertising market is worth $250 billion and if more apps move into advertising, it will drastically increase the competition for marketers.
Many dating apps work through a freemium subscription model, but Bumble CEO Whitney Wolfe Herd has admitted that she may soon introduce in-app advertising to her platform.
The other predictions include a growth of mobile gaming’s market share, considerably more mobile video streaming and Harry Potter: Wizards Unite to bring in over $100 million in its first 30 days.
App Annie hosted a follow up webinar on December 12th which discussed the forecast in further detail.
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