China’s mobile app market is forecasted to reach $2.59 trillion by 2021, according to App Annie.
In a newly released report, App Annie estimates the global app market will be valued at $6 trillion, with China taking the top position in terms of growth over the next four years.
China currently has 1.33 billion mobile phone users, with 800 million active app users across iOS and Android. A large percentage of app users are lower income groups, however higher income groups retain a strong affinity to purchasing via apps and mobile. This higher group of mobile consumers is three times more likely to purchase food and groceries via their devices and four times more likely to spend a majority of their disposable income on mobile, compared to US consumers.
Holding the number one position, China’s mobile market is set to relish from rapid growth over the next four years. According to App Annie’s report:
- Consumer spend across app stores in China is forecast to grow from $19 billion in 2016 to more than $56 billion in 2021
- Ad revenue growth is just as strong with Chinese publishers netting $10.5 billion in 2016 and $48 billion by 2021
- Chinese users are forecast to spend $2,025 in 2021, a 120% increase spent an average of $955 in 2016 across the app economy, and this is forecast to grow to $2,025 in 2021 — an increase of more than 120%.
The entire APAC region is set to earn $76.5 billion in app store revenues by 2021. Thanks to a young, wealthy and mobile-first population, China will be the most successful with $56 billion in app store spend by 2021, out-performing the rest of the world regions.
*All data and stats are taken from App Annie’s App Economy Forecast report.
Founded in 2014 and based in Shanghai, Appcoach is a technology-enabled, global mobile performance marketing agency. Appcoach activates global mobile user acquisition strategies with local marketing initiatives across search display networks, social media and digital media buying. Appcoach’s patented technology products, Market, Ultron and Okra enables advertisers to develop their presence at scale and for publishers to monetize their traffic effectively in global markets.
Appcoach is listed in LUMApartners Mobile LUMAscape 2017, and clients include gaming, lifestyle, e-commerce, travel and utilities. Appcoach has 10 offices globally and is venture-capital backed by Yonghua Capital.
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