consumer spending: Global consumer spending on Apple, Google app stores to touch $133 billion this year: Report

Global consumer spending on the Apple and Google apps stores is to touch $133 billion this year with a 19.7 percent year-over-year growth, a report by market analytics firm Sensor Tower has predicted.
As per the report, the Apple App Store will see a worldwide consumer spending of $85.1 billion this year, up 17.7 percent from $72.3 billion in 2020. The report adds that although Google Play Store has seen lesser spending from consumers than the App Store, the platform is set to grow by 23.5 per cent to $47.9 billion from $38.8 billion.
“The two platforms’ spending relative to each other remains the same as in 2020, with the App Store seeing about 1.8 times the revenue as Google’s marketplace,” said Stephanie Chan, mobile insights strategist at Sensor Tower.
The report says that TikTok, including Douyin on iOS in China, will retain its top spot as the most revenue generating non-gaming app across both the app stores. TikTok has a total of 745.9 million installs across both app stores. The report predicts that the app will see $2.3 billion in spending by the end of the year, which makes for a lifetime total of $3.8 billion.
TikTok had become the first non-Facebook and non-gaming app to reach 3 billion downloads in July 2021. Despite being banned in multiple countries, India included, the app remained popular. The downloads did go down by 38% YoY from about 619 million in the first half of 2020, caused majorly due to removal from India’s app stores, but consumer spending rose in that period by 73%. Meanwhile, Facebook remained on the top on Google Play Store with about 500.9 million installs.

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