In-App Purchase Market to Reach $571.2 Billion, Globally, by 2032 at 12.5% CAGR: Allied Market Research

The global in-app purchase market is growing due to the widespread adoption of smartphones and high-speed internet access, the popularity of games with free-to-play models, and increasing adoption of digital solutions

NEW CASTLE, Del., Aug. 7, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "In-App Purchase Market by Operating System (Android, iOS and Others), Type (Consumable, Non-consumable, Auto Renewable and Non-renewing Subscription), Application (Gaming, Entertainment and Music, Health and Fitness, Travel and Action, Finance and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the in-app purchase market was valued at $195.5 billion in 2023, and is estimated to reach $571.2 billion by 2032, growing at a CAGR of 12.5% from 2024 to 2032.

Prime determinants of growth 

Advancements in payments technology and the integration of in-app purchase into a variety of industries will provide ample opportunities for the market's development during the forecast period. 

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The iOS segment is expected to grow faster throughout the forecast period

Based on operating system, the iOS segment held the highest market share in 2023. With iOS operating system, in-app purchases provide better user experience, as they do not obstruct the user's application use with advertisements. 

The auto-renewable segment is expected to grow faster throughout the forecast period 

Based on type, the auto-renewable segment held the highest market share in 2023. Auto-renewable subscriptions enable continued access to services, content, and premium features in the users' applications. They automatically renew at the end of their term unless the user cancels. 

The gaming segment is expected to lead throughout the forecast period 

Based on application, the gaming segment held the highest market share in 2023. Mobile gaming has become a global phenomenon, with billions of people playing games on their smartphones and tablets. Since the popularity of mobile gaming has expanded, game creators have discovered new ways to commercialize their products. 

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The growth of internet usage and the continued growth of retail, consumer goods and e-commerce in countries, such as Japan, India, and China are expected to drive the growth of the in-app purchase market in Asia-Pacific. 

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Major Industry Players: - 

• Apple Inc. 
• Disney 
• Google LLC 
• King.com Ltd. 
• Netflix, Inc. 
• Creative Clicks 
• AdMaven 
• POCKETGUARD 
• PubMatic 
• Roblox 
• InMobi 
• Brainly 
• Recurly 
• Propeller Ads 
• Tango  

The report provides a detailed analysis of these key players in the global in-app purchase market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry Development: 

• On February 2024, Walmart-owned payments company PhonePe launched its mobile app marketplace, Indus Appstore, to rival the Google Play store and Apple's App Store. Indus Appstore challenges the status quo, ushering in an era of more healthy competition in the mobile app marketplace, which in turn should help create a more democratic and vibrant Indian digital ecosystem. 
• On September 2023, WhatsApp partnered with Razorpay to host new features to improve the user chat experience with businesses. The platform has roped in online payment solutions companies Razorpay and PayU to enable users to pay businesses via cards, UPI and more. 

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