Utilities - United States

United States

The projected total revenue in the Utilities market in the United States is estimated to reach US$1.23bn in 2022.
This represents a significant figure for the market segment.
Looking ahead, the total revenue is expected to exhibit an annual growth rate of 10.18% (CAGR 2022-2027), resulting in a projected market volume of US$2.06bn by 2027.
Within the Utilities market, the projected in-app purchase (IAP) revenue is forecasted to reach US$559.20m in 2022.
This indicates the potential for growth and monetization opportunities within the market.
Additionally, the projected paid app revenue is expected to reach US$23.00m in the same year, highlighting the revenue generated through direct app purchases.
Advertising revenue in the Utilities market is also projected to play a significant role, estimated to reach US$651.60m in 2022.
This demonstrates the importance of advertising as a revenue stream within the market segment.
Furthermore, the number of downloads in the Utilities market is projected to reach 0.60bn downloads in 2022.
This showcases the popularity and demand for utility-based applications among users.
It is noteworthy to mention that the average revenue per download currently stands at US$2.05.
This metric provides insights into the revenue generated per individual download, indicating the profitability of the market segment.
In a global comparison, in China leads the way in terms of revenue generation in the Utilities market, with a projected revenue of US$1,674.00m in 2022.
This showcases the dominance of the Chinese market and its significance in the Utilities market sector.

Key regions: China, Japan, Asia, United States, Europe

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.