Mobile applications generate a lot of money and the global mobile app market is a big market in billions of dollars. However, most of the money is earned by only a few specific apps while most apps make a little while many don’t even earn any money at all. If you’re looking for how to maximise your app’s revenues, consulting with an expert in app development is the way to go.
Online traffic via mobile devices has grown substantially since the advent of mobile web and marketing experts predict further growth especially because more and more people all over the world continue to opt for the use of mobile devices to access the web.
Industry statistics released for 2017 shows that in the U.S., alone, 63 percent of the total online traffic for the year were initiated from mobile devices. This trend explains why advertisers all over the world now focus on mobile ads to reach their target audience. Mobile apps earn money through in-app ads, in-app purchases, and through sponsorship.
How much revenues an app can gross depends on the type of app, the medium on which it is launched – whether iOS or Android – and on the audience the app targets. Industry experts project that the total global app revenues will reach $188.9 billion by 2020 which is an increase of more than 200 percent from what was earned in 2016.
The mobile apps at the top of the list of earners are the game apps such as Pokemon Go, Fortnite, and Candy Crush Saga. Fortnite, an Epic games app, was reported to be grossing $1.9 million per day as at April 2018. Another games mobile application called Candy Crush Saga designed by King was listed as second on the list with $1.3 million daily revenue. The earnings of these two mobile apps were grossed from in-app purchases because the apps are offered to users free to download.
Future earnings for mobile apps would come from other sources than the cell phone as it is presently. More smart devices are being integrated into our daily lives. The advent of smart televisions and wearables such as smartwatches are other potential sources of revenue for mobile apps in future.
Already, more than 70 million homes have smart TVs in the U.S. So, if you’re looking to design your app with the intention of making money, consult experts in mobile app development who could take your cool idea for a mobile app and design what is best for you in the circumstances.