- Indian mobile app market generates record revenue, in-app purchases cross $300 million.
- Earning $200 million from non-gaming apps, 44% more than last year.
- Apps like ChatGPTT, Instagram, YouTube are earning the most downloads and revenue.
- Expected revenue of $1.25 billion this year, but less expenditure globally.
India’s Mobile App Market: In India, people are now spending money generously on mobile apps. This is why India’s mobile app market is generating record revenue. A recent report states that in-app purchases have crossed $300 million in the first quarter of this year. There is an increase of 33 percent on annual basis. This means that now people are spending money like water to unlock premium subscriptions or features of mobile apps. However, most of this revenue is going to foreign companies.
On which apps are Indian users spending more?
According to SensorTower’s report, non-gaming apps have generated $200 million in revenue through in-app purchases in the first quarter, which is 44 percent more than the first quarter of last year. The highest revenue earning apps include Google One, Facebook, ChatGPT, YouTube, Instagram, LinkedIn, Sony Liv, Crunchyroll, JioHotstar and Amazon Prime Video. Among the most downloaded apps, ChatGPT, Instagram, FreeReels, StoryTV, JioHotstar, Meesho, Flipkart, Facebook, PhonePe and Kuku TV are included in the top 10. Downloads of generative AI apps have increased by almost 70 percent on an annual basis. ChatGPT has remained the most downloaded app for a long time.
This much revenue is expected this year
In-app revenue in India was $ 510 million in 2021, which increased to beyond $ 1 billion last year and may cross the mark of $ 1.25 billion this year. Although the number of downloads has now stabilized at around 25 billion, the time spent on apps is continuously increasing. This shows that people are now engaging more with apps and are also ready to pay for digital services.
In-app purchases in India are much less compared to the global market.
Despite this increase in in-app purchases, India is far behind in the global market. Mobile apps in India earn only $0.03 per download, while companies in South-East Asia and Latin America earn up to $0.20 per download. This means that users in India are spending less money on apps compared to many other markets.
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