Global mobile app market to grow by 24% in 2016

Worldwide mobile application store revenue is set to reach $101 billion in five years as smartphones become cheaper and data plans more accessible, drawing in people in developing countries, according to data provider App Annie.

The user base of smartphones and tablets will more than double to 6.2 billion by 2020, up from 2.6 billion, the San Francisco-based company said in a forecast today. Some of the strongest growth will come from countries such as India, Indonesia, China, Mexico, Brazil and Turkey. Revenue generated per device will grow to $16.2 in 2020 from $15.4, boosted by spending in the Americas, Europe and the Middle East, even as average revenue will decline slightly in the fast-growing Asia-Pacific region.

Apple’s iOS is set to retain its store leadership by gross revenue over the five-year period, while Google Play and third-party Android stores will expand their lead measured in downloads due to wider proliferation of devices. Combined annual downloads will surge to 284 billion in 2020 from 111 billion last year.

Consumer spending in app stores will grow 24 percent to $50.9 billion this year, according to the report. Of this growth, $2.4 billion will come from the Americas, $2 billion from EMEA region and $5.4 billion from Asia-Pacific, which will continue to outpace the other regions in coming years.

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