The global mobile application market is expected to slow down in growth in 2022. The application market size has increased significantly over the past two years, partly due to the pandemic. However, according to figures presented by SafeBettingSites.com, the global app market is only expected to grow by 5.7% in 2022. In comparison, the global app market grew by 25.7% in 2021.
According to data available on Statista, the global app market is expected to generate $420.73 billion in revenue in 2022. The majority of revenue is expected to come from advertising. According to the figures, mobile applications will earn $214.9 billion in advertising, which represents 51% of the total revenue. In-app purchases would bring in $200.6 billion in revenue, while paid app revenue is expected to be just $5.23 billion. It should be noted that most revenue from paid applications comes from games.
The annual revenue of mobile application markets was only $215.86 billion. Hence, the market size almost doubled in the next four years. In 2019, annual revenue grew to $253.02 billion, indicating growth of 17%. However, the real growth spurt came in 2020 when the market grew by 25% and annual revenue grew to $316.6 billion. The market maintained the growth rate in 2021 with further growth of 25.7%, with revenue of $397.94 billion.
However, the annual growth rate is expected to drop to 5.7% in 2022. The mobile application market is expected to experience similar growth over the next few years. According to Statista projections, the mobile app market will grow from $420.73 billion in 2022 to $542.89 billion in 2026. These numbers represent growth of just 29% over four years. In comparison, the market grew by 95% from 2018 to 2022.