The latest report by IMARC Group, titled “In-App Purchase Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global in-app purchase market size reached US$ 124.1 Billion in 2022. In-app purchase (IAP) refers to the purchase of additional services and features in an application on tablets, smartphones, and computers. They are commonly available in consumable, non-consumable, and auto-renewing subscription-based variants. It provides access to additional features, digital goods, subscriptions, and premium content, directly within the application. It also provides access to promotions and helps to improve brand awareness and download rates. As a result, in-app purchases are extensively adopted across the health, fitness, gaming, education, learning, entertainment, music, travel, and hospitality industries.
Global In-App Purchase Market Trends:
The market is primarily driven by the increasing demand for smartphones across the globe. In-app purchases are specially made through smartphone-based applications to acquire access to premium content and features. In addition, the widespread product adoption in health and fitness applications due to the rising health consciousness among individuals is contributing to the market growth. The users can buy access to customized diet plans, regular health checks, trainers, and discounted products via in-app purchases. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic has escalated the download of social media, gaming, and entertainment-based applications, which represents another major growth-inducing factor. Besides this, the incorporation of digital wallets for in-app purchases to make the payment process smoother and faster is also contributing to market growth. Furthermore, the escalating product demand in gaming applications for purchasing hints, speed upgrades, and additional cosmetic items for characters is propelling the market growth. Other factors, including the rising penetration of high-speed internet, the escalating demand for e-commerce, healthcare, and educational applications, and the increasing expenditure capacities of consumers, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 347.0 Billion by 2028, exhibiting a CAGR of 16.55% during the forecast period (2023-2028).
- Based on the type, the market has been segmented into consumable, non-consumable, and subscription.
- On the basis of the operating system, the market has been segregated into android, iOS, and others.
- Based on the app category, the market has been classified into gaming, entertainment and music, health and fitness, travel and hospitality, retail and e-commerce, education and learning, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being 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.).
|Base Year of the Analysis
||Type, Operating System, App Category, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.).
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