Apple users could spend more on non-gaming mobile apps by 2024 – report

(Reuters) – Apple Inc customers could end up spending more on non-gaming mobile apps by 2024, data analytics company SensorTower said on Monday, as lockdown lifestyles drive users to look beyond games to applications that help with more essential services.

Downloads of business, education, health and fitness apps have seen a sharp increase due to home keeping measures during the health crisis.

In the early days of the pandemic, users spent more on mobile games in the App Store. But as lockdowns continued, disrupting work life as well as modes of communication, their attention shifted to apps for photo and video sharing, dating, video conferencing and instant messaging.

Shares of companies such as Zoom Video Communications Inc and Match Group and other home-based companies have soared last year.

SensorTower said consumer spending on mobile apps will reach $ 270 billion over the next five years globally, more than a three-fold increase from 2020.

Apple customers will spend more than their Android counterparts with the App Store expected to generate $ 185 billion in global revenue, the data analytics company said.

Gaming revenue will continue to take a relatively higher share on the Google Play Store than on the App Store, with a forecast share of 71% of games in 2025, compared to 42% of the App Store, according to the data.

The data analytics company expects Europe to become a key market over the next five years, with revenue growth in the continent likely to overtake that of Asia and North America .

Downloads in Europe are expected to reach 36.9 billion by 2025, up from 28.4 billion in 2020, while revenue growth is expected to more than double to $ 42 billion over the next five years.