Top predictions for the app economy in 2018
2018 will mark the 10-year anniversary for both the Apple App Store and Android Market. Since their launches, mobile apps have impacted society at an astounding pace and scale. Over nearly a decade, the app economy has matured in a number of ways:
- By the end of October 2017, the iOS App Store and Google Play had more than 2 million and more than 3.5 million apps available, respectively.
- Furthermore, new apps continue to be introduced at an exponential rate. During the month ending October 31, 2017, roughly 50,000 new apps launched on the iOS App Store and over 150,000 were added to Google Play.
- Across mature markets, users on average are spending two hours per day — which equates to one month out of every year — in apps.
- More than 40 countries will generate over $100 million each in consumer spend in 2017 for iOS App Store and Google Play combined.
- Apps play a key role in almost every industry today, including retail, banking, travel, QSR, CPG and media and entertainment.
At a deeper level, this maturation is most apparent in the evolution of how mobile apps have transformed people’s everyday lives.
This has continuously raised their expectations of apps. Convenience is just one, but important, dimension where people expect apps to have a significant impact and it is a core theme that underlies many of predictions for the coming year. Read more on App Annie predictions for 2018.