Lifestyle - Asia

Asia

The Lifestyle market in Asia is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is set to reach an impressive €2.88bn by 2022.
This is indicative of a strong market potential in the region.
Furthermore, it is estimated that the Lifestyle market will experience a steady annual growth rate of 7.48% from 2022 to 2027.
This consistent growth trajectory is expected to result in a projected market volume of €3.75bn by 2027.
These figures indicate a promising future for the Lifestyle market in Asia.
Breaking down the revenue streams within the Lifestyle market, it is projected that in-app purchase (IAP) revenue will reach €2,437.00m in 2022.
This signifies the increasing popularity of in-app purchases among consumers in the region.
Additionally, paid app revenue is expected to reach €64.79m in 2022.
This indicates that consumers are willing to invest in paid applications within the Lifestyle market.
Advertising revenue is also expected to play a significant role in the market, with projections indicating that it will reach €378.90m in 2022.
This demonstrates the potential for brands and businesses to effectively reach their target audience through advertising within the Lifestyle market in Asia.
In terms of user engagement, the number of downloads in the Lifestyle market is projected to reach a staggering 3.51bn downloads in 2022.
This indicates a high level of interest and engagement with lifestyle applications in the region.
Furthermore, the average revenue per download is currently expected to amount to €0.82.
This figure provides insights into the monetization potential of the Lifestyle market in Asia.
When compared globally, it is interesting to note that the majority of the revenue in the Lifestyle market is generated in China.
Projections indicate that [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] will generate €2,458.00m in 2022, further highlighting its dominance in this market segment.
Overall, the projected revenue and growth rates in the Lifestyle market in Asia depict a promising outlook for the region.

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

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Región

Comparación de regiones

Moneda

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.