Global mobile user spending across the App Store and Google Play will reach $156 billion by 2023, according to Sensor Tower.

The figures were forecasted by the 120 per cent growth from 2018 merged with an annual growth rate of 16.8 per cent anticipated over the next five years.

Apple’s platform is predicted to reach worldwide sales of $96 billion in the next five years, representing an increase of 104 per cent. In comparison, Google Play is expected to reach $60 billion in that time, equal to a rise of 140 per cent.

Though Google Play will shorten the App Store’s lead, Apple is still projected to be out in-front by 62 per cent.

Latin America and Africa growth

Latin America and Africa were both noted as most likely to see the biggest increase in revenue over the next five years.

China, Japan and the US are all predicted to continue to lead global sales across the App Store, while South Korea, Japan and the US will top the group for Google Play.

Apple recently shook up its own App Store with the reveal of the Apple Arcade subscription, which if successful could potentially boost earnings for the marketplace. The new premium games service is due to launch this year.