In-App Purchase Market size is projected to reach $340.76 billion by 2027, growing at a CAGR of 19.8% from 2020 to 2027
According to a recent report published by Report Ocean, titled, “In-App Purchase Market by Operating System, Type and App Category: Opportunity Analysis and Industry Forecast, 2020–2027,” the global in-app purchase market size was valued at $76.43 billion in 2019 and is projected to reach $340.76 billion by 2027, growing at a CAGR of 19.8% from 2020 to 2027.GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1264
The most popular form of in-app purchase application includes games, video streaming application and music streaming application. In addition, various application developer is developing three types of in-app purchase application which include consumable, non-consumable and subscription. Among the three types of application subscription is the major type of application which provide maximum revenue to the developer. In addition, various benefits provided by in-app purchase application include monetize the application, provides new marketing channel to the developer and increases the sales in multiple channels.
Furthermore, increase in smartphone users across the globe and technological advancement in smart phones drive the growth of the market. In addition, rise in use of various promotional strategies and offers such as loyalty programs and increase in data usage & internet penetration across the globe fuel the growth of the market. Moreover, digital illiteracy and limited digital infrastructure and uncertainty of enterprises in developing their own applications hamper the growth of the market. Furthermore, addition of new games and ongoing innovation in technology and surge in expenditure on digital advertisement are expected to provide lucrative opportunity for the market expansion during the forecast period.
Based on operating system, the global in-app purchase market was led by the iOS segment in 2019 and is projected to maintain its dominance during the forecast period. Growing iOS users in developed countries such as the U.S., Canada and Japan and upsurge in purchase of mobile application from the app stores is expected to provide growth opportunities for the market. However, the other segment is expected to grow at the highest rate during the forecast period, owing to companies such as Blackberry, and Microsoft launching new versions of the operating system to maintain its customer base and gain a competitive advantage in the in-app purchase market.
Region-wise, the global in-app purchase market was dominated by Asia-Pacific in 2019 and is expected to grow at the highest rate during the forecast period. The major factors that drive the market in this region include rising in-app purchase customers in China and India and surge in adoption of subscription based mobile application in the Asian countries.
Though COVID-19 crisis continues to disrupt many industries, it has offered opportunities for high adoption of digital transformation approaches, among which in-app purchase service has gained high importance and adoption. With state and country-wide lockdowns initiated at the beginning of 2020, many people across the globe are getting addicted to gaming and entertainment application which is providing lucrative opportunity for the market. Furthermore, various key players of the market are introducing new gaming and other non-gaming application with in-app purchase options to enhance the customer experience and to improve their market share in the pandemic situation.
Key Findings Of The Study
By type, the subscription segment generated the highest revenue in 2019.
By region, Asia-Pacific is expected to attain significant growth during the forecasted period.
By app category, the gaming segment generated the highest revenue in 2019.
The key players profiled in the in-app purchase market analysis Apple Inc., Disney, Google LLC, King Limited, Netflix, Inc., Rakuten, Inc., Sony Corporation, Spotify Technology S.A, Tencent Holding Limited, and Tinder. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1264
Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release In-App Purchase Market size is projected to reach $340.76 billion by 2027, growing at a CAGR of 19.8% from 2020 to 2027 here
News-ID: 2248074 • Views: …
More Releases from Report Ocean
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for App
Best App Localization Services to Globalize Your App Development
The idea behind making a mobile app universal is to ensure that the app is accessed by global users regardless of their locations and language. Before expanding the app, its content and functionality must be localized for multiple languages and countries. GetAnyLanguage is the company that makes it possible.
Since its inception, the company has been doing localization of mobile apps by translating its content into multiple languages…
Anghami Music App now available on Foxxum App Store
Users of Tornado and Toshiba smart TV devices can now enjoy a library of millions of Arabic and international songs, music videos and podcasts on their smart TVs – for free. Through the partnership with Anghami, Foxxum has brought the MENA region’s leading music platform on board of its Foxxum App Store.
With the Anghami smart TV app, viewers with a Toshiba or Tornado smart TV can listen to music…
Book2.App - Convert your original PDF into an Android app & web app for FREE!
WILMINGTON, Del. - Feb. 26, 2020 - Ipsilon Developments launches Book2.app! A new app that let you convert your original work PDF into an Android & Web app!.
Book2.app is a new web & mobile app, that allows you to convert your original work in PDF format, in an Android App, ready to publish into the Google Playstore!
You can upload any original work, in PDF format, no technical knowledge is needed,…
Patient Centric Healthcare App Market 2019: Technology Based Development coverin …
Patient centric health care app market is anticipated to grow in the forecast period owing to driving factors such as the rising number of innovations in technology, increase in population, surge in expectations in quality of care. Moreover, Rise in prevalence of chronic diseases, higher life expectancy, and patient enablement and empowerment, rising investments by major players for the growing demand are also offering opportunities in the market growth during…
School Jotter App Trending on the Apple App Store
School Jotter, a UK school mobile app has been trending at #16 for Education on the Apple app store. The app is increasingly gaining popularity thanks to its ability to connect primary school teachers with parents. School Jotter as the most downloaded school mobile app in the UK is also available in multiple markets including the USA, New Zealand, Australia and more.
The user friendly School Jotter mobile app became…
Health Insurance App Benchmarking 2015 Market Research Report - Industry View, A …
ResearchMoz added Latest Research Report titled " Health Insurance App Benchmarking 2015 - How health insurance companies make use of mobile apps " to it's Large Report database.
The report analyzes the global app publishing activities of the leading Health Insurance Companies on Android and iOS devices. The research provides a detailed picture of which app categories health insurance companies concentrate on, how many apps they have published, which user groups…