mobile app market has seen immense growth in the past ten years and even has no end in sight. Following figures itself says how big is this industry:
- In the year 2012, the mobile app’s financial state was around $53B and it grew up to $63.7B by the year 2016.
- The various researcher even predict that the mobile app economy will touch $188.9B worldwide by the year 2020
In-app ads, purchases, and other monetization models have come up immensely with the app market. Last year, In 2017, 49% of the app developers went for in-app advertising (for non-gaming apps) and 79 % chosen in-app purchases of items for gaming apps.
This growth is mainly due to a high potential of mobile applications which is acquired in various steps. Let’s see how mobile apps have managed to grab such a high place in the current economy in a short span of time.
- Growth of smartphone users:
With the rise of the affordable smartphone, reduced data prices and short replacement cycles, the smartphone industry has seen rapid adoption for the past few years. The following report depicts how smartphone users have grown from 1.57B in 2014 to 2.53B in 2018 and it is expected that this data will cross the mark of 3 billion by the year 2021.
It is obvious that this graph is showing a continuous increment. Everyone nowadays wants to have a smartphone for them. Also, the one which comes up with latest market technologies and trends are being preferred more.
Top 5 OTT Platforms in India for Advertising
| Name | Active Users |
|---|---|
| Disney+ Hotstar | 38 Million |
| Netflix | 400 Million |
| SonyLiv | 23 Million |
| MxPlayer | 280 Million |
| Amazon Prime Video | 175 Million |
9 Types of Digital Advertising
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