With the global mobile application market size to reach $407.31 billion by 2026, it is no surprise at how the enormity of this technology touches all facets of our lives. There is no better time to be an app publisher, whether it is in mobile, desktop or streaming services.
2020 is an opportune time for independent publishers to be a part of the streaming service economy. The driving forces behind this development have been the convergence of new technologies with internet penetration and a major increase in mobile users outside the United States. As the statistics for streaming services shows below, there is a continued upward march of worldwide revenue growth in the steaming services industry.
It isn’t just movies that are breaking ground, audio services (e.g. music streaming, podcasts, audio books) are on the rise as well. In a recent study, mobile devices drove 79% of total global internet usage. That said, new streaming apps that provide in-demand content and ease of use are most likely to be adopted.
Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) all continue to command consumer attention for 2020. These technologies not only represent a large market, but that market continues to grow quickly.
VR has been the standout, extending far beyond gaming and entertainment. Both VR, AR and to a certain extent, AR technology are finding niches in disparate applications from large companies like Walmart to military applications with the US Army.
AR seems to have found solid footing lately with respect to enhancing the shopping experience, creating a more immersive and interactive adventure. Many large eCommerce’s companies use AR to enable customers to try products before purchase, such as displaying furniture in the home to check “fit” before purchase.
Demand is on the rise for smarter, more intuitive applications using ML or AI within their platforms. Sectors like, Education, Healthcare and Manufacturing are providing a lots of opportunities for app developers. In the enterprise sector, there is growing demand for apps with machine learning that can run analytics alongside CRM platforms to reveal more information on how better to serve repeat clients and customers. Chatbots in retail is one early example of widespread ML usage that continues to grow.
There is no end in sight for the demand for app development and no better time than now to be an app publisher. This space continues to expand at a rapid pace. During the first generation of mobile apps, every product was either free or had a price. At Nami, we believe that there is increasing demand for apps with freemium offerings, subscriptions and in-app purchases.
Nami helps developers focus on profitability and recurring revenue streams. We want to empower developers to to create engaging experiences that users will happily pay for. Start your free trial today.
Is your app required to use In-App Payments? Learn the rules around payment methods in your iOS app with our guidelines to Apple In-App Payments.
Track these 19 metrics to accelerate growth of your mobile app revenue, with this definitive guide to subscription app analytics.
Get connected with one of our product experts to get started with your journey with Nami today.