The in-app purchase market has shown exponential growth, climbing from $171.82 billion in 2023 to $213.36 billion in 2024, with a CAGR of 24.2%. This surge is due to increased smartphone penetration, evolving app monetization strategies, and enhanced user engagement. The market is expected to grow to $515.92 billion by 2028, at a CAGR of 24.7%. Growth drivers include subscription-based models, emerging markets, and cross-platform integration. Major trends are mobile gaming dominance, AR integration, and digital goods expansion.
Major Driver In The In App Purchase Market
The increase in downloads of video streaming, gaming, and health and fitness applications is anticipated to fuel the growth of the in-app purchase market. The escalating usage of mobile applications expands the user base, creating a larger pool for in-app purchases. According to APP ANNIE, global mobile users downloaded approximately 140 billion new apps by the end of 2021, representing a notable increase of around 10 billion compared to 2020. This surge in downloads of video streaming, gaming, and health and fitness applications is expected to be a key driver for the growth of the in-app purchase market, reflecting market sizes for 2023, and expected figures for 2024 and 2028.
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In App Purchase Market Competitive Landscape
Amazon.com Inc., Apple Inc., Google LLC, The Walt Disney Company, Tencent Holdings Limited, Netflix Inc., PayPal Holdings Inc., Square Inc., Rakuten Group Inc., Stripe Inc., Spotify Technology S.A., Flipkart Internet Private Limited, Myntra Designs Private Limited, Epic Games Inc., AppLovin Corporation, Supercell Oy, Tinder, Unity Technologies SF, Adyen N.V., Digital Turbine Media Inc., IronSource Mobile Ltd., Machine Zone Inc., InMobi Technologies Pty. Ltd., VentureBeat LLC, Bango PLC, Vungle Inc., Adapty Technology Inc., Ajio Online Services Private Limited, Chartboost Inc., Fortumo Oyj, Aarki Inc., Liftoff Inc., SuperSonic Studios Ltd., Swrve Inc.
Key In App Purchase Market Trend
Technological advancements are shaping the in-app purchase market. Many companies operating in in-app purchases are focused on developing new technological solutions to meet customer demand. In June 2021, Apple Inc., a US-based company operating in in-app purchase unveiled new developer tools and technologies to create better apps. These new tools and technologies help the apps to develop with high quality and also provide new ways for developers to promote their apps and connect with users. Xcode Cloud helps in bringing the multiple tasks and tools required to test, build, and deliver apps together using powerful cloud services.
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In App Purchase Market Segmentation
The in-app purchase market covered in this report is segmented –
1) By Type: Consumable, Non-Consumable, Subscription
2) By Operating System: Android, iOS, Other Operating Systems
3) By App Category: Gaming, Entertainment And Music, Health And Fitness, Travel And Hospitality, Retail And E-Commerce, Education And Learning, Other App Categories
By Geography:The regions covered in the in-app purchase market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the in-app purchase market in 2023.
The In App Purchase Global Market Report 2024 furnishes information about the global in app purchase market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
