Mobile is more mainstream than ever, and businesses from all industries are relying on this channel to bolster existing revenue streams and unlock new ones. 2021 is set to be another banner year for the app ecosystem. In addition to key platform innovations and continuing growth of mobile-first companies, more companies from traditional industries realize that mobile is no longer an optional investment.
2020 accelerated mobile adoption as consumers used their mobile devices to connect, work, learn, play and escape despite COVID-19 restricting their way of life. Consumers spent $143 billion on mobile apps in 2020, an increase of 20% from 2019. Top markets driving this spend included China, United States, Japan, South Korea and the United Kingdom.
- Time spent on mobile surged: 4.2 hours were spent on Android which amounted to 3.5 trillion hours, up by 20% and 25% respectively from 2019
- Mobile gaming remains unrivaled: This sector is on track to surpass $120 billion in consumer spend in 2021 which will capture 1.5x of the overall gaming market
- Time spent crossed generations: In the US, Gen Z, Millennials and Gen X/ Baby Boomers spent 16%, 18% and 30% more time per user YoY in their most-used apps
- Social networking apps take center stage: Time spent per user increased by up to 325% YoY. TikTok is on track to hit 1.2 billion monthly active users in 2021 as consumers look to stay connected as well as entertained
- Mobile fuels the ad industry: In 2020 ad spend grew to $240 billion up by 26% from 2019
- Funding remained strong: $73 billion was invested in mobile companies up by 27% from 2019
source: App Annie
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