Survey predicts India among the world leaders in app store revenues

GANDHINAGAR, India - Aug. 4, 2016 - PRLog -- AppAnnie predicts India's continued growth for mobile market, anticipating app store downloads to reach a whopping 20.1 billion by 2020. This equals to 92% growth rate as compared to 2016.

As total time spent on mobile apps is growing at a rate of 11 times from Q1 2014 to Q1 2016, retail emerges as one of the fastest-growing sectors in the mobile industry.. Mobile app revenues have also grown dramatically; wherein Mobile Commerce is enjoying the maximum share of overall in-app spend.

Mobile economy in India has witnessed exponential growth over the past two years, with the rate of total app downloads and time spent in-app being more than double since Q1 2014. Emergence of pocket-friendly Smartphones and state-of-the-art infrastructure serving as a foundation of mobile industry, this fastest growing emerging market is definitely one to be taken into consideration.

In fact, based on a market research by AppAnnie, India ranks First  on the list of fastest growing emerging countries by app store revenue, followed by Brazil, Argentine, Mexico, and Indonesia.

The report suggests global app store revenues exceeding $102 billion by 2020.

Mature economies such as Japan, Western Europe and U.S. will continue to represent over 2/3rd of app store gross revenue, witnessing significant growth in the near future with a CAGR reaching almost 12%. Surprisingly, emerging economies would account for 40% of total app store revenues, with CAGR growing at a rate of 29%.

Among these emerging markets, India would witness the fastest app store revenue growth, well ahead of other countries. ''For users in this market, mobile apps will be the key tool to help with basic education and health", says Mr. Ketan Chavda, MD of Prismetric Technologies ( https://www.prismetric.com ).

Talking about the factors contributing to make India a world leader in app store revenues, Mr. Chavda stated that increasing availability of budget-friendly yet highly functional Smartphones will render the advantages of mobile apps to populations around the country.

Mobile platform vendors will persistently deliver integrated app experiences like discovery, deep linking, personalization, and installation for the users. Furthermore, as developers would tap into modern technologies like object recognition, artificial intelligence and context awareness, and integrate the same into mobile apps, there will be a paradigm shift in Smartphone engagement.

In addition to these, hyper local services such as speedier delivery and flexible payment approach are paying off big time in several cities. India's top 10 retail mobile apps are currently experiencing radical growth as they continue to adapt and grow in their category of service offerings.

Global players such as Amazon are also getting into the picture and achieving success. All these factors will be key forces driving India to be one of the top countries with highest app store revenues globally.

To know more about how Prismetric can help improve app store revenues visit mobile app marketing (https://www.prismetric.com/services/mobile-app-marketing/)