Mobile is the US$120B future of tech business, according to App Annie’s research

With consumer spend in app stores expected to surpass more than $120 billion in 2019, according to data released by App Annie, there’s nothing more vital to business than mobile.

App Annie, the leading global provider for mobile data and analytics, released its annual The State of Mobile in 2019 report — the most comprehensive guide for businesses looking to capitalise on mobile transformation.

The report found:

• Mobile Dominates Worldwide: Consumers downloaded 194 billion apps in 2018, spent $101 billion in app stores, and averaged three hours per day in mobile. Time spent in-app grew 50% from 2016 to 2018; downloads up 35% over the same period.
• Monetisation Impact: Mobile consumed 62% of global digital ad spend in 2018, up from 50% in 2017. 60% more apps will monetise through in-app advertising in 2019.
• Video Is King: In 2019, 10 minutes of every hour spent consuming media will be streaming video on mobile.
• Mobile Is Non-Negotiable for Gen Z: Members of Generation Z (ages 16 to 24) spend 20% more time in apps than the rest of the population.
• Mobile Gaming Goes Global: Mobile games grew faster than console, PC and online and handheld games in 2018 and is expected to reach 60% market share in game spend across all platforms in 2019.

“Mobile is no longer an add-on channel—it is the engine fuelling digital transformation,” said Theodore Krantz, CEO, App Annie. “The State of Mobile 2019 report unlocks the potential of mobile for businesses in all stages of mobile transformation. The insights delivered in this report are unparalleled and inform the strategy every company needs to deliver winning consumer experiences.”

The premier mobile report provides data and analysis across a wide range of verticals, helping businesses of all sizes better understand the dynamic and diverse markets mobile serves. The report looks at macrotrends, app rankings, and a number of industries including mobile marketing, shopping and retail, travel, gaming, social networking, media and entertainment, banking and fintech, video streaming, dating and more.

“Consumers spent $101 billion on apps globally in 2018. This is larger than the global live and recorded music industry, double the size of the global sneaker market, and nearly three times the size of the oral care industry,” said Danielle Levitas, EVP, Global Marketing & Insights, App Annie. “Mobile experiences are so central to how we live, work and play and with consumers spending 3 hours a day on mobile, it’s clear how vital this platform is for all businesses in 2019 and beyond.”

This cutting-edge report comes on the heels of rapid momentum for App Annie, which last month announced the launch of App Annie Labs, the hiring of a new chief financial officer and chief legal officer, and outlined the vision of CEO Theodore Krantz, who was promoted to the role in June 2018.

Source: App Annie

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