As per a new report, it would seem that India is the fastest growing market for both iOS and Android applications. India also leads in the number of mobile apps that were downloaded across both platforms as app revenues shot up sharply in the first quarter of 2018.
The report by market data and insights company App Annie said that three of the top 10 apps downloaded in India were related to video streaming. After India, the second country was Indonesia and the third was Albania.
An App Annie representative told the Economic Times, “India is the fastest growing of any market, its Q1 2018 y-o-y growth was 41 percent. India was also the number one market globally by combined downloads on iOS and Google Play, ahead of the United States (2nd), and China (3rd, iOS only),”.
The report also stated that Netflix and Tinder were the two most popular applications in India by revenue. UCBrowser, ShareIt and Hypstar along with Facebook, WhatsApp and Messenger also feature in the top 10 list.
India’s downloads in Q1 2018 have grown by over 250 percent in the past two years. However, India was ranked at 29th in terms of absolute revenue generated from the sale of mobile apps with an estimated revenue generation of $47 million. The US heads this list with a mammoth $3.2 billion revenue generated followed by Japan with $2.7 billion.
The ET report also states that in 2017 India had a total of 281 million internet users out of which 62 percent were in the urban areas.
Sreedhar Prasad, partner and head consumer markets and internet business, at KMPG India told ET, “Price of smartphones is coming down and the adoption is very high in India. The sub-Rs 10,000 market is really growing in India. So, the number of people using a phone and who are downloading apps are on a rise, which grows the base,”.
Globally consumer spends on Google Play grew by 25 percent year-on-year while iOS had 20 percent year-on-year growth.