We all know that the mobile app market is one of the most lucrative markets out there. These simple tap and swipe games on our phones are raking in millions, or sometimes, billions of dollars. According to a new report from Sensor Tower, we’ve spent more money this year than ever.
Global mobile app spending has reached $133 billion dollars this year.
When mobile apps were becoming a thing, no one ever thought about making a living or becoming rich off of an app. Nowadays, apps like Genshin Impact and TikTok are totaling billions of dollars in revenue yearly.
Not only is the market big, but it is growing. According to the report, the Apple App Store and Google Play Store are projected to bring in a combined total of $133 billion dollars in revenue this year. This includes in-app purchases and ad revenue. This figure is up from $111.1 billion dollars in the year 2020. That is a 19.7% increase year-over-year.
The Apple app store reigns supreme in terms of income bringing in nearly twice as much as the Google Play Store. This year, Apple brought in about $85.1 billion in revenue. That’s a 37.7% increase from last year’s $72.3 billion.
As for the Google Play Store, this year, it totaled about $47.9 billion. That’s a 23.5 % increase from last year’s $38.8 billion.
Global spending on mobile games has also grown
Most of the money from in-app purchases comes from games. Mobile spending on games will reach about $89.6 billion across both mobile platforms. This is a 12.6 % increase over last year’s $79.6 billion. This is significant because mobile spending on games makes up 67.4% of all in-app spending.
This year, Apple brought in $52.3 billion which is a 9.9% increase over last year’s $47.6 billion. The Google Play store brought in $37.3 billion, which is a 16.6% increase over the $32 billion brought in last year.
What were the top games this year?
In the Apple App Store, Honor of Kings takes the top spot leaving PUBG Mobile and Genshin Impact in second and third place, respectively. As for the Google Play store, the top-grossing game is Coin Master which leaves Garena Free Fire in second and Genshin Impact in third.
The top grossing game across both platforms is PUBG Mobile with Honor Of Kings in second and Genshin Impact in third. Other top grossing games include Roblox, Candy, Crush saga, Pokémon Go, and Lords Mobile.
This article originally appeared on https://www.androidheadlines.com/2021/12/people-are-spending-more-money-than-ever-on-mobile-apps-and-games.html