Navigation - G7

The Navigation market in G7 is expected to witness impressive growth in the coming years.
According to projections, the total revenue in this market is set to reach US$0.56bn by 2022.
This indicates a promising future for the Navigation market industry.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 11.20% from 2022 to 2027, resulting in a projected market volume of US$0.99bn by 2027.
These figures highlight the potential and opportunities that lie within the Navigation market.
When examining the revenue breakdown in the Navigation market, it is projected that in-app purchase (IAP) revenue will reach US$198.70m in 2022.
This signifies the increasing popularity of in-app purchases within the Navigation market.
Additionally, paid app revenue is expected to reach US$26.68m in 2022, indicating a significant contribution to the overall revenue of the Navigation market.
This demonstrates the willingness of consumers to invest in paid navigation applications.
Advertising revenue is also poised to play a significant role in the Navigation market, with projections indicating that it will reach US$335.90m by 2022.
This highlights the importance of advertising as a revenue stream within the industry.
In terms of user engagement, the number of downloads in the Navigation market is projected to reach 149.80m downloads in 2022.
This reflects the high demand for navigation applications among consumers.
Furthermore, the average revenue per download is expected to be US$3.75, indicating the value that each download brings to the Navigation market.
Interestingly, when comparing global revenue figures, it is evident that in China leads the way in terms of generating revenue in the Navigation market.
It is projected that in China will generate US$439.80m in revenue in 2022, showcasing its dominance within this market segment.
Overall, the Navigation market in G7 is expected to witness significant growth in the coming years, with impressive revenue projections and a strong focus on in-app purchases, paid app revenue, and advertising revenue.
These figures indicate a thriving and competitive industry that presents numerous opportunities for businesses operating within this market segment.

Key regions: Germany, Europe, Japan, Asia, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.