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As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global In-App Purchase Market to be Aided by the Higher Penetration of Smartphones and Internet in Asia Pacific

According to a new report by EMR titled, ‘Global In-App Purchase Market Report and Forecast 2022-2027’, the global in-app purchase market attained a value of nearly USD 92 billion in 2020. The market is further expected to grow at a CAGR of 20.8% in the forecast period of 2022-2027.

The global in-app purchase industry has been dominated by the Asia Pacific region. Rapid adaptation of latest technology in mobile applications is driving the growth of the in-app purchase market. Penetration of smartphones into the economy, along with 4G and 5G connections is accelerating the demand for in-app purchase applications. Technological advancement and urbanisation are also propelling the demand for in-app purchases. In-app purchase provides the benefit of the “freemium” business model, combining free and premium. The users have access to basic features for free but must pay a certain amount to access the premium feature or upgrade to a better version. It also initiates brand loyalty as the more users download your app and inundate it with reviews, the app gets preferential treatment from the app store itself. The revenue generated from sale of in-app purchases is necessary for development and maintenance of the application. Major players of the market are introducing new applications to the users and are introducing different strategies to upsurge their revenue and market share, in-app purchases are a great gateway to promote the facilities, thereby creating infinite opportunities for the market growth. The COVID-19 has positively impacted the growth of in-app purchase industry. There was a notable increase in the number of customers during the lockdown with significant increase in subscription of video streaming, gaming, and other health and fitness applications. Service providers launched various features, discounts, and functions to generate traffic.

The rising competition among the key players is also providing an impetus to the market growth. In August 2021, Apple Inc. (NASDAQ: AAPL) apple app store updated its prices in certain regions. In countries like South Africa, United Kingdom, and countries that use Euro currency, prices of apps and in-app purchases will decrease, excluding auto-renewable subscriptions. Prices will increase in Georgia and Tajikistan. The hike is due to tax changes and update of Exhibit B of the paid applications. Prices in Italy will also increase because of the change in the Digital Service Tax effective rate.

Market Analysis by Operating System, Type, App Category, and Regions:

  • The operating system can be categorised into Android and iOS, among others.
  • Based on type, the industry can be divided into consumable, non-consumable, and subscription.
  • The app-category can be divided into gaming, entertainment and music, health and fitness, travel and hospitality, retail and e-commerce, and education and learning, amongst others.
  • The regional markets for in-app purchase include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Rapid adoption of the latest technology in mobile applications is one of the major factors driving the market growth.
  • Penetration of smartphones in the economy is fuelling the demand for in-app purchase market.
  • Online traffic is expected to attract investors and clients for advertisements and promotion of products and services, boosting the demand for in-app purchase industry.
  • Development of digital wallets and contactless cards is also propelling the market growth.

Key Offerings of the report:

  • The EMR report gives an overview of the global in-app purchase industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for the operating system, type, app category, and regions of in-app purchase.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global in-app purchase industry include Apple Inc., Google LLC, Tencent Holdings Ltd., Netflix Inc., Spotify Technology S.A., and Amazon.com, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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