How much can you make with an app?
Making an app doesn’t happen overnight and it’s surprisingly not a cheap venture with all the hours and team members who have to be involved, so you probably wonder if the payoff is worth it?
If you offer a service or product already or you have a really unique idea that fits a need in the market, chances are you’ll benefit from having an app. You immediately reach a large audience who will be able to access your offering within an arm’s reach. The time spent using apps for the average user in the U.S. is 4.2 hours every day, and this number will only continue increasing with time.
Mobile app developers are lining their pockets. In the Apple App Store, their earnings are 150 billion U.S. dollars annually, slightly surpassed by developers in the Google Play Store, who earn 160 billion U.S. dollars. According to Statista, the annual growth rate is 11.2% with no signs of slowing down.
The largest app revenue generators are Coin Master, which generated 108 million U.S. dollars in just one month, followed by Candy Crush Saga, at 98 million U.S. dollars. Gaming apps are generally bringing in the most revenue, but popular apps across all categories are seeing great ROI.
Of course, not everyone is in it for the money. Government and public offices are increasingly making their services available digitally for their citizens. It makes for less paperwork, manpower and administration while speeding up processing time and convenience for the individual.