SoftProdigy Online Store
How Much Money I Can Make with a Mobile App?
There’s a lot of mobile apps making billions of dollars. However, most of the money is earned by certain kinds of apps, some of them don’t make any money at all. While calculating about the most money making apps, you may be surprised that the top-grossing apps in the world may not be the ones you suspect.
If you’re planning to jump into the pool and start making money with mobile apps, a professional mobile app development company will tell you what you should, and shouldn't do. In this article, we’ve explained the ins and outs of how apps make money and what you should do to become an earner.
Over the years, the mobile market has grown substantially and the growth is predicted continue. Experts claim that the mobile traffic accounted 63% of total website traffic in 2017 with half of the time per day that adults spend consuming digital media occurred on smartphones. With such impressive numbers, it’s no wonder that most leading businesses are trying to get a piece of this modern-day gold rush.
The following overview of the potential of earnings with mobile apps should give you a clearer picture of how much you can make with an app.
Platforms That Make the Most Money for App Developers
Before jumping into the decision of creating your own money-making mobile app, you need to decide what platform you want to create your app for. The platform you choose holds a great potential to affect your earning capability due to differences in market penetration and platform popularity.
Without a doubt, Android is in the lead with most people using smartphones powered by Android platform. This is one of the most regarded platforms because of its continued market penetration. Apple is no less popular, although!
Some less popular platforms include BlackBerry OS and Windows Mobile platform, having only 0.04 percent of the total market share. This depicts, creating a Magento mobile app for Android & iOS is the smartest choice for those who want to penetrate deeper into the market and enjoy maximum benefits.
Types of Revenue the Apps Generate
Apps are big business and there’s no denying it. The mobile app revenue is projected to reach $188.9 billion by 2020, which is almost 200% in comparison to 2016. Online shopping apps and gaming apps dominate the list of top-grossing apps. Most online shopping apps are free to download, but the real money is earned by in-app purchase process. The global revenue of in-app purchase is calculated at $37 billion in 2017.
Apps Aren’t Just for Mobile Devices
That’s right, mobile apps aren’t only for the mobile devices anymore. They have branched out from the compact devices as more integrated smart devices have entered the market. Take an example of Smart TVs. You can browse the internet, installed mobile apps and start doing a lot more than just watching your favorite movies.
Online shopping apps make things a lot easier for the online shoppers when browsed on smart TVs as the product images are large and clearer on these TVs. It is worth keeping Smart TVs in mind when designing your app.
Another platform to pay attention to is smartwatches. Many people prefer using their wearable devices to play games, browse products, chat, and a lot more than just reading and sending text messages. With wearables becoming increasingly prevalent, they’re expected to reach 51% share of wearable devices sold in 2022, which is almost 21% more than 2016.
The Next Big Thing for Mobile App Development
The mobile market is growing with people finding these devices more usable. Similarly, the Magento mobile app market is expected to experience a substantial growth since its conception and shows no signs of slowing down. Online shopping apps and mobile video games are huge, million-dollar earners and the smart TVs and smart wearable devices will further expand the app environment.
