The global in-app purchase market size reached US$ 103.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 323.7 Billion by 2027 exhibiting a CAGR of 20.20% during 2022-2027.
An in-app purchase (IAP) refers to any additional purchase of goods and services made within an application. It enables developers to offer their apps for free and monetize them by charging users for exclusive content and functionality. Developers can advertise upgrades to the paid version to access premium features, functions, and content or to remove ads. In recent years, IAPs have gained traction as they help improve download rates and brand awareness.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global In-App Purchase Market Trends:
The global in-app purchase market is primarily driven by the growing usage of smartphones and applications. Additionally, the increasing subscriptions of video streaming, gaming, and health and fitness applications amid the recent coronavirus disease (COVID-19) outbreak is another major growth-inducing factor. Furthermore, the integration of digital wallets to make IAPs more convenient, secure and fast, and the increasing adoption of aggressive promotional strategies like loyalty programs have augmented the product demand. Other factors, including the rising penetration of high-speed internet, inflating consumer disposable incomes, and increasing digital expenditure, are also anticipated to catalyze the market growth.
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Global In-App Purchase Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Apple Inc, Epic Games Inc., Google LLC (Alphabet Inc.), King.com Limited (Activision Blizzard Inc.), Netflix Inc, Rakuten Group Inc., Sony Corporation, Spotify Technology S.A., Tencent Holdings Ltd., The Walt Disney Company and Tinder (Match Group Inc.).
The report has segmented the market on the basis on region, type, operating system, app category.
Breakup by Type:
Breakup by Operating System:
Breakup by App Category:
- Entertainment and Music
- Health and Fitness
- Travel and Hospitality
- Retail and E-Commerce
- Education and Learning
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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