The 21st century has truly revolutionised life, and if there has been one notable invention, it is the smartphone. Estimates show that over 2.7 billion people all over the world use smartphones. Following this, the mobile app industry is thriving. Software engineers and app builders continue to soar and bring in new creative ideas, and if there’s a sure thing, it’s that app usage will continue to rise.
Consider this: there are 2.7 billion smartphone users and an additional 1.35 billion tablet users around the globe. Better yet, the tablet user record was only half this number six years ago. What does the world of tomorrow look like? — smartphone penetration and app usage at an unprecedented rate.
If you think it’s annoying to see everyone glued to their phones today, know that the worst is yet to come in the foreseeable future. We use our phones in cars, on the street, when eating, in bed, at work, home, you name it! Studies reveal that 10% of the population check their phones every 4 minutes, and on a broader scale, the average American checks their phone at least once every 12 minutes.
You might even be a culprit, reading this from your device. Wondering what we are all doing on our phones? We are on apps! 90% of the time, the majority of smartphone and tablet users are glued to an app. Anyone looking to venture into the app development industry, therefore, has a great future ahead of them as long as they can achieve these two key things:
- Get users to download their app.
- Get them to use the app.
Key Mobile App Statistics
Why does the future look promising for app owners and developers? Statistics show a very flourishing industry. Some of the notable mobile app statistics include:
- Mobile apps are expected to generate $189 billion in revenue by 2020.
- The average smartphone owner uses 30 apps each month.
- Google Play Store has 2.8million apps while the Apple App Store has 2.2 million apps available for download.
- 21% of millennials open an app more than 50 times a day.
- 49% of people open an app more than 11 times a day.
- 57% of all digital media usage comes from mobile apps.
Free vs. Paid Downloads
Even before developing an app, you already have thoughts on how your app will bring money to the table. One popular monetization strategy is charging for app downloads. Sure, it does seem great as a concept, but the big question is: Is it lucrative in reality? Bearing in mind that 98% of app revenue comes from free apps, how many people are willing to pay for apps?
It may seem like I’m discouraging you, but truth be told, I’m only stating the reality of things on the ground. Most of the people that pay for apps are those that are constantly engaged in the app. After all, why else would anyone spend money on something they are not using? Moreover, note that charging for a new app means that only a fraction of people will download it. That said, assess the type of app you have and strategize the best way forward.
Mobile apps are part of our daily lives and 2020 has brought a new era, where people have primarily sought online platforms to socialize, work, hold meetings and so much more. If you’re thinking of penetrating into the industry, you’re on the right track. Keep in touch with all trends and statistics and find the right app for you.
Last but not least, develop your app today using BuildFire or our mobile app development agency! All you need to do is sign up on our user-friendly platform and create an Android and iOS app simultaneously, without writing a single line of code!