How COVID-19 Affects And Obtains Revenue For Growing Apps?
With the spread of the COVID-19 in 2019 and 2020, it has already made a significant impact on the smartphone app industry. According to the recent report on the market forecast on mobile apps, there will be a sizeable increase in the app downloads from 2020 to 2024. These apps downloaded will be based on industries such as remote work, education, and many other gaming apps. With the lockdown due to the COVID-19 in the early part of 2020, there has been a high-end increase in the app downloads in the play store and apple store. In fact, it also mainly Obtains better User Acquisition for growing apps during these lockdown situations.
COVID-19 Significant Impact On App Store:
The wide number of people have been using the smartphone with high-speed internet facilities. Since the lockdown situation in many countries across the world, remote work has been widely popularised. Therefore, remote work and education apps have been widely downloaded by most of the people. However, the fast-food apps and ride-sharing apps have been barely used during these lockdown situations. Despite all these, most of the people have been spending more time on their smartphone by downloading the apps from the App stores, and it continues to increase even till 2024.
With the expected economic downturn due to the COVID-19, it could also mainly reduce the revenue growth in the year 2020. COVID-19 not only created a significant impact on the economy of the world but also made an impact on the revenue of the app stores. The revenue of the app stores has been highly increased and remained stable, with more number of people are accessing. By 2024, the revenue would mainly reach to about $171. According to the last report, the revenue in 2019 is only $85 billion, so revenue would double in 2024. About $3 billion have been released prior to that of the outbreak of COVID-19. Apple’s App Store and Google Play would be seeing the highest 80% increase in its revenue, even in the slowest-growing regions.
App stores would be hitting several milestones during the next 5 years. People across the world have been spending on mobile apps that would increase more than $100 billion in 2020. Mainly, it also gained the high-end aspects of 20% with reaching more than $102 billion.
Revenue from the non-game mobile apps also would increase the mobile games by the year 2024 and mainly attained the growth with the subscription.
- Entertainment subscriptions
- Social Networking subscriptions
- Music subscriptions
- Lifestyle app subscriptions
Notably, mobile games also reached more than $97.8 billion, which is about more than 40% of consumer spending. App Store also has the sizeable chunk in spending about $57 billion on the mobile game’s revenue 2024.
COVID-19 Making Changes In Digital Marketing:
The outbreak of the COVID-19, especially in 2020 widespread, mainly made more number of changes in the current world. Even the top cities such as San Francisco, New York City, and many others affected. Almost all the local, state, as well as national governments across the world, have been encouraging the people to stay at home with the lockdown situations. Economics also greatly affected due to coronavirus, and it also created severe consequences. The leveling of the curve and social distance also made a significant impact on the economy and lives of people.
In these hard situations, due to COVID-19, mobile becomes one of the dominant ways for people to communicate easily, shopping, researching, and many others. Smartphones also become one of the actualised ways and increase with the digital economy. According to the leading marketing analytics that states that multiple channels and platforms have been gaining better ROI with more number of users have been using unique digital facilities.
- 25% increases in the Gaming industry with COVID-19
- 34% massive spike in the Retail sector by March 2020
- 29% increase in the Social media apps usage by mid of 2020
- 38% down in the Travel marketing
Effect Of COVID-19 On Education Apps:
With the pandemic situation due to the COVID-19, most of the people have started to use the education and learning apps. With the complete analysis of the different retention, acquisition, messaging metrics, and MAU, there has been more extensive usage of these apps.