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2020
In-app Purchase Market

In-App Purchase Market

by Operating System (Android, iOS and Others), Type (Consumable, Non-Consumable and Subscription) and App Category (Gaming, Entertainment & Music, Health & Fitness, Travel & Hospitality, Retail & E-Commerce, Education & Learning and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A07186
Pages: 268
Sep 2020 | 8597 Views
Author(s) : Pramod B, Shadaab K , Vineet K
Tables: 130
Charts: 74
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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The global in-app purchase market size was valued at $76.43 billion in 2019 and is projected to reach $340.76 billion by 2027, growing at a CAGR of 19.8% from 2020 to 2027. In-app purchase is the ability of mobile devices to ease the sale of a particular product or different types of service within an application. In addition, it offers four different types of in-app purchase options to the users that include auto-renewing subscription, subscription, replenishable and non-replenishable.

In the wake of COVID-19, mobile gaming applications are creating several lucrative opportunities for in-app purchase market, owing to growing adoption of gaming and media & entertainment applications among the end-users in complete lockdown situations across most of the countries.

Increase in smartphone users across the globe and technological advancement in smart phones drive the growth of the market. In addition, rise in use of various promotional strategies and offers such as loyalty programs and increase in data usage & internet penetration across the globe fuel the growth of the market. Moreover, digital illiteracy and limited digital infrastructure and uncertainty of enterprises in developing their own applications hamper the growth of the market. Furthermore, addition of new games and ongoing innovation in technology and surge in expenditure on digital advertisement are expected to provide lucrative opportunity for the market expansion during the forecast period. 

In-app-purchase-Market-2020-2027

By type, the global in-app purchase market was led by the subscription segment in 2019 and is projected to maintain its dominance during the forecast period. Increase has been witnessed in the use of subscription revenue model, owing to various advantages such as it offers flexibility in terms of billing & payment, turns fixed cost into variable cost, provides ease of distribution, and serves as a reliable & consistent revenue stream. However, the non-consumable segment is expected to grow at the highest rate during the forecast period, owing to its ability to provide user full potential of the application and gives full access of the application which drives the growth of the market in this segment.

Region wise, the in-app purchase market was dominated by Asia-Pacific in 2019 and is expected to grow at the highest rate during the forecast period. The major factors that drive the growth of the market in this region include presence of major players and rapid adoption of latest technology in mobile application in emerging countries of Asia-Pacific such as China and India. 

In-App Purchase Market
By Operating System

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iOS is projected as one of the most lucrative segments.

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The report focuses on the growth prospects, restraints, and trends of the global in-app purchase market. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global in-app purchase market.

Segment review

The global in-app purchase market is segmented on the basis of operating system, type, app category and region. In terms of operating system, it is fragmented into android, iOS and others. By type, it is segregated into consumable, non-consumable and subscription. As per app category, it is divided into gaming, entertainment & music, health & fitness, travel & hospitality, retail & e-commerce, education & learning, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In-App Purchase Market
By Type

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Subscription is projected as one of the most lucrative segments.

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The key players profiled in the in-app purchase market analysis Apple Inc, Disney, Google LLC, King Limited, Netflix, Inc, Rakuten, Inc., Sony Corporation, Spotify Technology S.A, Tencent Holding Limited, and Tinder. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. 

COVID-19 Impact Analysis:

In COVID-19 pandemic, businesses are coping with operational challenges. To cope with this situation, gaming and non-gaming mobile applications are providing their customers with new features and functionality of the application at a very reasonable price which drives the growth of the market. In addition, rise in subscription of video streaming, gaming and other health & fitness application in the pandemic among end-users provides growth potential for the in-app purchase market. Furthermore, major players of the market are providing various new application to the users and are introducing different strategies to upsurge their revenue and market share, thereby creating numerous opportunities for the market growth.

In-App Purchase Market
By App Category

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Gaming is projected as one of the most lucrative segments.

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Top impacting factors

Rise in in-app purchase payments in developing countries

Emerging economies, such as India and China, have high penetration of smartphones along with increasing 3G and 4G connectivity users. In addition, both the countries account for more than third of the world’s population, thus posing maximum market potential for in-app purchase. It is anticipated that approximately 90% of the population under the age of 30 years resides in these emerging markets. Growth in middle-class segment, rapid urbanization, rise in literacy level, and increase in tech-savvy youth generation would increase the consumption rate in emerging economies, thus leading to growth of in-app payments.

Emerging markets are still not well equipped with financial services, and the geographical reach of financial institution in remote locations is limited. However, over the past few years, the evolvement of technology and innovations has made it financially viable for financial institutions to provide services such as e-banking and mobile money to unbanked and under-banked population in emerging markets. Kenya is among the emerging markets, where approximately two-thirds of the adult population either receive or make payment via their mobile phones is one of the major factors driving the growth of the in-app purchase market in emerging economies.

Surge in expenditure on digital advertisement

Growing online traffic is expected to attract investors and clients for advertisements and promotion of products and services. Social media influence is majorly driving the growth of the online or digital advertisement market. Most of the social media platforms, including Instagram, LinkedIn, Telegram, and WhatsApp, have been gaining immense popularity among millennial, which is considered to serve as a lucrative opportunity for investors to promote their businesses on such platforms. Benefits associated with digital media advertisement such as improvement in customer conversion rates, decline in marketing cost, presence of targeted & segmented customer base, better search engine ranking, more inbound traffic, and superior customer satisfaction are further expected to provide potential growth opportunities for the market in the near future.

In-App Purchase Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 21.3% during 2020-2027.

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Key Benefits for Stakeholders 

  • The study presents an in-depth analysis of the global in-app purchase market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information about key drivers, restraints, opportunities and their impact analysis of the global in-app purchase market share.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
  • The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

Key Market Segments

By Operating System

  • Android
  • iOS
  • Others

By Type

  • Consumable 
  • Non-Consumable
  • Subscription

By App Category 

  • Gaming
  • Entertainment & Music
  • Health & Fitness
  • Travel & Hospitality
  • Retail & E-Commerce
  • Education & Learning
  • Others

By Region    

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany 
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East 
    • Africa

Key Market Players

  • Apple Inc
  • Disney
  • Google LLC
  • King Limited
  • Netflix, Inc
  • Rakuten, Inc.
  • Sony Corporation
  • Spotify Technology S.A.
  • Tencent Holding Limited 
  • Tinder
 

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In accordance with several interviews that were conducted of the top level CXOs, in-app purchase application is expected to witness strong growth especially in Android and iOS smartphones as there has been significant increase in spending on luxury smartphones and internet usage. In addition, the adoption of in-app purchase application is increasing among the end user owing to growing need among the mobile developer to provide more value-add features to the customer and build a stronger brand among the market. Furthermore, the in-app purchase offer significant potential to the app developers as well as the enterprises in the international markets due to the benefits such as, cost savings, high profit margins, easy access, better customer management programs, and intense market presence. 

Further, increase in economic strength of developing nations such as China and India, is expected to provide lucrative opportunities for the market growth. North America is expected to dominate the market during the forecast period. Moreover, emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities during the forecast period. The in-app purchase market is consolidated with the presence of key vendors such as Apple, Inc., Google LLC, Sony Corporation, Rakuten Inc. and others. North America and Europe are the prime users of these systems. However, Asia-Pacific is expected to experience significant growth in the near future, owing to increase in adoption of smartphones among the people in developing nation such as China and India. Some of the key players profiled in the report include Apple Inc., Disney, Google LLC, King Limited, Netflix, Inc., Rakuten Inc., Sony Corporation, Spotify Technology S.A, Tencent Holding Limited, and Tinder. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
 

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