Press release
In-app Purchase Market Size to Hit USD 340.76 Billion by 2027
In-App Purchase Market
Increase in in-app purchase payments in developing countries, rise in data usage & internet penetration, and low data tariffs along with an increase in smartphone penetration drive the growth of the global In-app purchase market. On the other hand, digital illiteracy and limited digital infrastructure restrain the growth to some extent. Nevertheless, surge in expenditure on digital advertisement and rise in demand for fast and hassle-free transaction services are expected to pave the way for lucrative opportunities in the industry.
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The global in-app purchase market is analyzed across the operating system, type, app category, and region. Based on operating system, the iOS segment accounted for the highest market share in 2019, contributing to around half of the global market. Simultaneously, the android segment would exhibit the fastest CAGR of 20.9% from 2020 to 2027.
Based on type, the subscription segment held nearly three-fifths of the total market share in 2019, and is projected to retain its dominance by 2027. The non-consumable segment, on the other hand, would register the fastest CAGR of 22.7% during the forecast period.
Based on geography, the region across Asia-Pacific garnered the major share in 2019, generating more than two-fourths of the global market. The same region would also portray fastest CAGR of 21.3% from 2020 to 2027. The other provinces covered in the report include North America, Europe, and LAMEA.
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The key market players analyzed in the global in-app purchase market report include Apple Inc, Disney, Google LLC, King Limited, Netflix, Inc, Rakuten, Inc., Sony Corporation, Spotify Technology S.A, Tencent Holding Limited, and Tinder. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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