Mobile Program downloads are surging Across the world with growth in smartphone use, with nearly half coming from China, a market tracker Stated Wednesday.
Mobile research company App Annie forecast that the amount of money spent on programs for smartphones or tablets this year will grow five times as fast as the international economy, exceeding $120 billion (roughly Rs. 8,50,000 crores).
“Games will fuel the bulk of consumer spend growth in the program stores, as mobile gambling will continue to be the fastest growing form of gaming,” the company’s Condition of Mobile accounts said.
“China will likely remain the largest contributor to consumer spend expansion in the program shops ; however, we hope to see a slight deceleration in the aftermath of the match licensing suspend in China.”
Some 194 billion mobile apps were downloaded worldwide annually, with individuals spending a total of $101 billion on them in them, according to the report.
China accounted for almost 50 percent of downloads of apps such as Apple or Android cellular devices, App Annie indicated.
“The technological race between US and China surfaced in mobile with companies headquartered in the US and China generating more than half of total customer invest in the top 300 parent firms in 2018,” App Annie stated.
“China came out ahead.”
Chinese companies accounted $19.6 billion of global consumer spending on mobile apps, accounting for 32 percent of global consumer spending compared with 22 percent for US-based parent companies, according to the report.
Meanwhile, global user in non-gaming programs more than doubled in the past two years, App Annie reported.
Mobile morsels offered by the report added that there was significant growth this past year in the usage of food-and-drink programs, particularly in France, Australia and South Korea which saw increase of 325 percent, 300 percent, and 230 percent respectively when compared to 2016.
Globally, more than $2.2 billion has been spent aggregate last year on the top five video streaming services, together with US-based Netflix the most rewarding of the pack, based on App Annie.