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Mobile App Revenue to Soar as Smartphone Adoption Escalates

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With roughly 5.3 billion mobile phone users worldwide − or 57% of the world’s population − using smartphones, global mobile app-generated revenue is expected to increase by 55%, reaching $613 billion by 2025.

 

This is according to a report compiled by fintech firm Mejores Apuestas, which notes the global mobile app market continues to surge and is expected to hit over $400 billion in value, by the end of 2021, growing by 25% year-on-year (YOY).

App revenue covers all revenue generation through mobile apps, including advertising, in-app purchases and subscriptions.

Before the COVID-19 pandemic, the global mobile apps industry was valued at around $255 billion; since then, annual revenue has been growing by around 25% each year. Statistics show this figure is forecast to increase by another $213 billion over the next four years, notes the report.

China, US, South Korea and Japan are expected to see the highest YOY revenue growth between 2021 and 2025.

“Over the years, mobile app developers have created an intensely competitive market, releasing millions of new apps and trying to capture the attention of an increasingly mobile society,” says Jastra Kranjec, research and report editor.

“Having a mobile presence has become imperative to companies across different sectors, and the COVID-19 pandemic has only speeded up this digital transformation.

“Since the pandemic hit, billions of people started using mobile apps not just for social networking, gaming, communication and entertainment, but also to educate, get medical advice and do business, providing additional value to their users – fuelling the growth of the entire industry.”

Referencing the Statista Digital Market Outlook, the report notes that mobile games will remain the largest revenue stream of the entire industry, bringing $387 billion in revenue by 2025 and 53% more than in 2021.

Far behind, social networking ranked as the second-largest app category, with $39.6 billion in revenue this year – this figure is projected to jump to $60.8 billion by 2025.

Entertainment and photo and video apps follow, with $41.2 billion and $25.1 billion revenue by 2025, respectively.

Although not among the top five app categories, education and business apps are also set to witness impressive growth in the following years.

Education apps are forecast to generate $10.1 billion in revenue by 2025, up from $6.4 billion in 2021, while business app revenue will grow by 68% and hit $4.2 billion in this same period.

“The surging demand for mobile app solutions and the growing number of smartphone users will continue driving the downloads growth. The total number of downloads will hit 220.5 billion in 2021 and then jump to 312.5 billion in the next four years,” adds Kranjec.

According to the App Annie State of Mobile Report 2021, consumers downloaded 218 billion apps in 2020 across iOS and Google Play, up 7% YOY. This growth was mainly pushed by the pandemic, which advanced the adoption rate to the equivalent of two to three years in 12 months, notes the App Annie report.


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TECNO and Tiwa Savage Unveil ‘Water and Garri’ in Style

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The recent premiere of the highly anticipated film Water and Garri was nothing short of a star-studded affair. Its compelling storyline and stellar performances captured audiences. Held at the Livesport Event Center, the event drew A-list celebrities, industry insiders, and eager fans, all eager to witness the cinematic spectacle unfold.

One of the most memorable aspects of the evening was the irresistible allure of the TECNO booth, where celebrities couldn’t get enough of the state-of-the-art devices on display. From snapping selfies with the latest TECNO smartphones to exploring the myriad features and functionalities, it was clear that TECNO had struck a chord with its audience.

But it wasn’t just the TECNO booth that had everyone buzzing – the movie itself was the talk of the town. ‘Water and Garri,’ inspired by the real-life journey of singer/actress Tiwa Savage, resonated deeply with audiences, offering a poignant portrayal of love, loss, and redemption. As the lights dimmed and the opening credits rolled, guests were not just spectators but participants in Tiwa’s world, swept away by the raw emotion and heartfelt storytelling.

Celebrities couldn’t get enough of the film throughout the evening, lauding its authenticity and powerful performances. From the lead actors to the supporting cast, each portrayal was met with applause and admiration, underscoring the talent and dedication of all involved. As the credits rolled and the cheering subsided, guests lingered, eager to share their thoughts and reflections on the film’s profound impact.

As the night ended, it was clear that “Water and Garri” had left an indelible mark on all who attended. From its captivating storyline to its unforgettable performances, the movie has captivated hearts and minds, earning its rightful place among the year’s most anticipated releases. With the support of innovative partners like TECNO, the film’s reach and impact are sure to extend far beyond the premiere, inspiring audiences for years to come.


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Nigeria DigitalSENSE forum @15, gets June date

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The date for the 2024 Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D) has been unwrapped for Thursday, June 27, by organisers, ITREALMS Media group.

Disclosing this, the Lead Consulting Strategist, DigitalSENSE Africa and Group Executive Editor, ITREALMS Media, Mr. Remmy Nweke, said that this year’s edition marks the 15th edition of Nigeria DigitalSENSE Forum on IG4D series and comes with the theme “IG4D: Innovative Digital Economy & Safer Civic Space in Nigeria” at the prestigious Welcome Center Hotels, International Airport Road, Lagos.

Nweke recalled that in 2009, the Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development made a debut and ever since has been steadfast in rallying stakeholders to take discourse on Internet access, openness, affordability, connectivity and ICT infrastructure among others.

This year, he also said, as NDSF marks 15th years of impacting various Nigeria’s economic sector with yet another series on the theme: IG4D: Innovative Digital Economy and Safer Civic Space in Nigeria.

“It will also be a time for recognition of corporates and individuals for their contributions in deepening Internet penetration, improving access and affordability as well as technological adaptation that begets digital sense in our society,” Nweke said.

NDSF series on IG4D, powered by ITREALMS Media group is hosted by DigitalSENSE Africa, an At-Large Structure (ALS) certified by the Internet Corporation for Assigned Names and Numbers (ICANN), in collaboration with relevant stakeholders including Internet Society (ISOC), Nigeria chapter, Nigerian Communications Commission (NCC), Internet Exchange Point of Nigeria (IXPN) among others.


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Exposing the Malicious Sabotage of MoMo PSB Project in Enugu Ezike

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By Cyprian Nwodo

The recent activities of some individuals with one Davids Iyida attempting to sabotage the MoMo Payment Service Bank project intended to benefit, especially Enugu Ezike people, have raised significant concern and outrage within the community.

Market Vendor accessing the MTN MoMo Loans and Savings on her phone — Enugu Ezike traders deserve the same

Such actions aimed at undermining a project with immense potential to uplift and empower the people of Enugu Ezike can only be described as malicious.

The MoMo PSB project is designed to bring financial services closer to the people of Enugu Ezike, facilitating easier access to banking and financial transactions.

This project is expected to create jobs, stimulate local businesses, and provide a much-needed boost to the local economy. In a region where such opportunities are rare, the MoMo PSB project represents a beacon of hope for many residents.

It is particularly baffling and disheartening to witness a member of the community collaborate with outsiders to hinder the progress of their own people.

The reasons behind such alliances remain unclear, but the impact of these actions is evident and deeply troubling. Working to obstruct the project is not only delaying progress but also actively working against the welfare and advancement of Enugu Ezike.

The efforts to destroy Kingsley Ifeanyi Adonu’s good intention, despite all the positive contributions he has made, are nothing short of wickedness.

Adonu, a visionary entrepreneur and the leading MTN Partner in the South East, has dedicated significant resources and efforts to bring the MoMo Payment Service Bank project to fruition.

His vision for the community includes economic growth, financial inclusion, and overall development. Attacking his vision is an attack on the progress and future of Enugu Ezike.

The question that lingers in the minds of many is: Why sabotaging our own benefits? In a time when unity and collective effort are paramount for the community’s advancement, such actions of sabotage are counterproductive and harmful. The community needs all hands on deck to drive development and improve the quality of life for its residents. Internal conflicts and malicious actions only serve to set back these efforts.

Davids Iyida

Despite the challenges and the malicious attempts to derail the project, it is important to reaffirm that S Mobile Group vision for establishing a MoMo Payment Service Bank in Enugu Ezike will prevail.

The community stands behind this vision, recognizing the immense benefits it promises to bring. Efforts to hinder progress will ultimately fail in the face of collective determination and support.

The actions of these ungrateful individuals, aimed at sabotaging the MoMo PSB project, are grave disservice to the community of Enugu Ezike.

In a time when progress and development are desperately needed, such malicious activities are deeply regrettable.

However, the vision and determination of Kingsley Ifeanyi Adonu and the community’s support ensure that the project will succeed, bringing much-needed growth and prosperity to Enugu Ezike.

Let it be known that no amount of sabotage can dim the light of progress and unity.

_Nwodo, a public commentator writes from Enugu State


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