Developing a mobile app for your business is a great way to get more users and expand your reach.
And that’s not just idle talk.
If you’re still hesitant about developing your own app, we’ve got you covered.
Here, we’ll cover 11 mobile app development stats that will prove why you should create one for your business.
Let’s go!
This stat should come as no surprise.
According to eMarketer, 90% of the time
And the average daily time spent on mobile internet is growing with every passing year, as you can see in the picture below:
source: Insider Intelligence
This means that not only are people using their phones more, they’re also spending more and more time using apps .
And that’s a statistic you can’t afford to ignore.
As app usage increases, if you don’t have your own app, you risk falling behind.
And that’s just one reason why developing your own mobile app is a sound business decision.
The number of mobile app downloads keeps growing every year.
And in 2022, according to Data.ai, there were 255 billion mobile app downloads
That’s a significant increase in downloads when compared to previous years, as you can see below:
source: Statista
And with these numbers, developing your own mobile app should be a no-brainer.
They’re also a clear indication that the mobile app market is healthy and growing even during an economically turbulent time.
This means that the appetite for mobile apps worldwide is unlikely to drop anytime soon.
And that’s why getting in on the action is a great way to grow your business.
Nowadays, it feels like smartphones are omnipresent and that everyone has one.
And that’s not exactly wrong.
According to Statista, there are approximately 6.92 billion smartphone users
source: Medium
That comes out to a staggering 86.11% of the global population that has a smartphone.
And that’s a significant increase from 2016, when only 3.67 billion, or 49.40%, people had smartphones.
These figures go to show just how important mobile apps can be for your business.
If you build an app, you can potentially reach millions of users you otherwise wouldn’t.
And that’s a good incentive to invest in developing your own mobile app.
We’ve talked about how mobile app downloads and smartphone users have grown in recent years.
One consequence of that is an increase in value of the worldwide mobile app market.
Grandview Research estimates that the value of the mobile app market reached $206.85 billion in 2022 .
And it’s expected to grow even more in the coming years.
Need a mobile app? .You’ll be talking with our technology experts.
They estimate that it will grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030, reaching a value of $567.19 billion by 2030 .
These figures show that mobile apps aren’t going anywhere and will continue to be an important part of doing business.
That’s why you should seriously consider building a mobile app.
Usually when we think of mobile apps, we think of tech giants like Google and Facebook.
And while they hold a dominant position in the market, that doesn’t mean that small businesses can’t have apps and use them to grow their business.
In fact, almost half of small businesses had an app in 2022.
According to a Top Design Firms survey, 48% of small businesses
source: Top Design Firms
And 74% of the respondents who didn’t have a mobile app are planning to build one in the next few years.
That’s because the small businesses that built an app realized numerous benefits from their apps, like a better customer experience and building brand awareness.
And the stats in the survey back that up – 46% of the respondents who built an app described themselves as being “very satisfied” with its performance.
So, if you have a small business, you should seriously look into building your own mobile app.
Otherwise, you’ll miss out on those benefits.
Building a mobile app isn’t just about growing your user base by reaching more people.
It’s also a great way to generate revenue for your business.
In fact, mobile apps are expected to generate over $935 billion in revenue in 2023 .
And that’s a significant increase compared to previous years, as you can see below:
source: SerpWatch
So, where do these numbers come from?
These numbers are based on the revenue generated from paid downloads and in-app advertising.
So, they don’t reflect indirect revenue gains you might get from your mobile app, like better brand awareness.
This means that the revenue potential of mobile apps is even higher than this stat shows.
And these numbers are a compelling reason to get a slice of that pie.
With the number of mobile app downloads reaching 255 billion in 2022, this stat shouldn’t come as a surprise.
The average user uses 30 different mobile apps
But, there’s a catch.
source: TechJury
Out of those 30 apps, they only use 9 on a daily basis.
So, what exactly does that mean?
It means that if you develop a quality mobile app, there’s a strong chance that your target audience will download the app.
But, if you want to retain your users, you need to deliver extra value with your app.
And that’s what the mobile app you’re developing should be all about.
Now, this is an interesting stat.
SensorTower projects that by 2025, consumer app spending will reach $270 billion.
This figure includes spending on:
Paid apps
In-app purchases
Subscriptions
So, why is this stat so interesting?
That’s because paid apps are only a fraction of the total apps available on both Apple’s App Store and Google’s Play Store.
source: Statista
So, the lion’s share of the mobile apps available on both stores are free, but users are still willing to spend money on and in free apps.
It’s proof that you can make money with a free mobile app if you play your cards right.
And a lot of money, too.
That’s why it’s a good idea to develop one for your business.
We’ve already discussed how the mobile app market is growing every year.
And this stat adds to that point – on average, 90,000 new Android apps
That’s a staggering amount of new mobile apps hitting the market every day.
And that’s just for one operating system.
Learn from a software company founder. Make your software product successful with monthly insights from our own Marko Strizic.
So, what should you take away from this stat?
If you’re considering creating a mobile app for your business, this stat shows just how competitive the market is.
But, such a competitive market is also a great opportunity for you to create an innovative mobile app that will resonate with your users.
That will help you stand out and gain an edge over your competitors.
And that’s why investing in a mobile app is a good idea.
Just like with Android apps, there’s a lot of new iOS apps launched monthly.
On average, 36,000 new iOS apps are launched every month in 2023.
This is another data point proving that the mobile app market is thriving and growing every day.
But, you might notice there are significantly fewer iOS apps released compared to Android apps.
That’s because iOS has a significantly lower market share globally than Android, as you can see in the picture below:
source: Counterpoint Research
But, there are significant regional differences .
For example, in the U.S. market, iOS has a 57.93% market share compared to Android’s 41.64%.
And that’s a very lucrative market you might miss out on if you only focus on Android.
That’s why, if you’re thinking of building your own mobile app, you should consider cross-platform app development
With it, you’ll be able to target a much broader audience.
And that’ll help your business to grow.
We’ve already discussed how mobile apps are expected to generate over $935 billion in revenue in 2023.
And advertising is a key revenue driver for mobile apps.
That’s why it should come as no surprise that mobile advertising spend will reach $362 billion in 2023 , according to a Data.ai’s 2023 State of Mobile report.
source: Business of Apps
If you build your own mobile app, you’ll be able to get a piece of the action, too.
So, you won’t just get more users to buy your product or service but also get additional revenue if you allow advertisements in your app.
And that alone can make building your app worth it.
Developing a mobile app is a great opportunity for you to expand your reach and deliver extra value to your users.
And the stats we’ve covered prove it.
If you want to learn more, check out how we build mobile apps and reach out if you need help in building one.
