A report from data.ai has shown that consumers are due to spend $33 billion on mobile apps this quarter, with gaming to make up $21.4 billion, as the app market is on target for 34 billion downloads.
Users who began to spend more money on apps and games during the pandemic are expected to continue doing so even after restrictions eased. It also indicates that users are happy to pay for in-app experiences and purchases.
While Android revenue has been relatively stable, with around $11 billion quarter-on-quarter, consumer spending in the iOS market is up four per cent from Q1, 2022, with the App Store earning roughly $22 billion in comparison. Of this, gaming comprises around 65 per cent of overall share across platforms.
This suggests that not only do iOS users spend more money on mobile games and apps, but the iOS market is experiencing more consistent growth compared to Android.
Honor of Kings and Genshin Impact continue to top charts
This growth appears to be in line with predictions that the mobile market will be worth $94.8 billion by the end of the year, with some analysts predicting that the industry will be worth almost $140 billion by 2026.
MMORPGs, MOBA, and 4x March-Battle games were the top earners, with MMORPG’s set for an additional $380 million compared to Q1 2022 – a QoQ increase of 24 per cent.
Honour of Kings and Genshin Impact topped the charts when it came to consumer spending, while Fantasy Westward Journey rose thirteen spots over the quarter to number five. In terms of fresh installs, Subway Surfers topped the charts as the most downloaded game, becoming the most popular mobile game of all time with over two billion total downloads.
There was a 63 per cent increase in mobile gaming during the pandemic, with 75 per cent of that growth expected to stay.