App Annie’s latest forecast report is predicting that global app store revenue will rise to $51 billion in 2016, and will have reached $101 billion by 2020.
According to the mobile analytics outfit, games generated roughly 85 percent of total app store revenue in 2015, and thanks to “strong monetization in mature markets” are expected to dominate over the next four years.
More specifically, thanks to strong performances in China, Japan, and South Korea, App Annie predicts that mobile game revenue will hit $74.6 billion by 2020.
The report also suggests that global app downloads will top 284 billion in 2020, with 102.2 billion of those downloads coming from games – which continue to be a significant driver of installs.
The company believes growth will be driven by two key factors, namely “strong app adoption in developing economies” and the fact that apps have the ability “to capture greater wallet share in mature economies.”
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