The mobile app market is growing faster than it ever has before. Consumer spending on mobile apps in the first quarter of 2021 has broken all previous records. In a new report released by App Annie, Q1 2021 consumer in-app spending across both iOS and Google Play reached $32 billion. That’s an increase of 40% year-over-year from the same period last year.
Worldwide App Consumer Spend
A large part of this record-breaking spending comes as a direct result of the pandemic. Forced to adapt to stay-at-home orders in 2020, consumers increased both their app downloads and spending as they found new digital ways to work, shop, socialize, game, and continue their education. Even as pandemic-related restrictions slowly lift, app downloads and spend continue to grow, with games making up the bulk of the activity.
Gamers are downloading apps at a record pace, accounting for about a billion titles a week, up 15% year-over-year from 2020. They’re also making up the majority of the spend, responsible for $22 billion. App Annie predicts this growth will continue, estimating gaming will reach $120 billion in consumer spending this year.
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