10/29/2014
It is projected that by 2015, 1 billion smart phones will be sold, twice as many as the number of personal computers, according to data provided by the University of Alabama at Birmingham’s Online Masters in Management Information Systems. At the moment, the average mobile app user spends more than 30 hours a month on over two dozen apps.
The mobile industry is showing no signs of slowing down.
Of these, 46% of app users paid for their apps. By 2017, it is predicted that over 268 billion downloads will generate $77 billion worth of revenue.
Here are some amazing stats as of last year:
– 68% of app downloaders report using their apps.
– 57% of users who downloaded apps recently said they use said apps daily.
– 51% use a handful of apps once a week.
– 31% use 6 or more apps on a weekly basis.
– 24% of these downloaders use their apps for more than 30 minutes a day.
Statistics show a 31% growth from the previous year (2012). The average app user downloaded/used 26.8 apps per month, spending 30 hours, and 15 minutes per month on apps.
Broken down by age group, the statistics are as follows:
– Of 18-24 year olds, users averaged around 28 apps per month, spending 37 hours, and six minutes per month.
– Of 25-34 year olds, users averaged 29.5 apps per month, spending 35 hours and 40 minutes per month.
Further broken down, the research shows that as of July 2013, Google’s Android market had passed 50 billion app downloads, and had featured over a million apps via their Google Play Store. Apple reached 75 billion app downloads, and 1.2 million apps in the iTunes store this year (2014). By 2017, over 268 billion downloads, amounting to $77 billion in revenue is projected to be made.
Customers are paying for apps more and more, instead of just opting for the free versions. According to the research:
– 46% of app users report they have paid for an app.
– 52% say the highest they have paid for an app is $5 or less.
– 17% have paid more than $20 for an app.
– Of the people most likely to pay for apps, are men, adults aged 30 and older, college graduates, adults with an income of $50,000 or more, and those living in urban cities.
The projections for app revenues are pretty interesting:
– Revenue for apps is expected to grow from the current $11.4 billion, to $24.5 billion by 2016.
– That is a 400% increase.
– By 2015, 1 in 3 consumer brands will feature integrated payment in their mobile apps.
– By 2017, 48% revenue will be from in-app purchases.
By 2016, 91% of the U.S. Population will own a cell phone, and of these. 61% will be smart phone users. 1,000,000,000 cell phones will be sold that year, double the number of PCs expected to sell.
By that same year (2016):
– The world’s population will be approximately 7.3 billion
– 10 billion will use mobile internet devices globally.
– There will be 1.4 devices per person on the planet.
The salary of the average mobile app developer has grown by 7.8% from the last year. As of 2013, the average app developer made between $92,750 to $133,500. This year, the average has grown to around $100,000 to $144,000.
So what does it all mean?
Basically it means what we all already know. The app market is growing at lightning speed and shows no signs of stopping. More and more companies are offering their customers unique app experiences. Making revenue off in-app purchases, and growing with the mobile market like never before.
With more and more people acquiring smart phones every day, and more and more people relying heavily on apps for every day needs and wants, it only makes sense for any business to jump in the pool.
