Productivity - Nigeria

  • Nigeria
  • The projected total revenue in the Productivity market in Nigeria is set to reach €3.92m in 2022.
  • This indicates a positive trend in the market's financial performance.
  • Furthermore, an annual growth rate of 8.90% is expected from 2022 to 2027 (CAGR 2022-2027), leading to a projected market volume of €5.45m by 2027.
  • In terms of revenue streams within the Productivity market, in-app purchase (IAP) revenue is projected to reach €2.85m in 2022, highlighting the significant contribution of this sector.
  • Additionally, paid app revenue is expected to reach €0.82m in 2022, further accentuating the market's financial potential.
  • Moreover, advertising revenue is projected to reach €0.25m in 2022, indicating the importance of advertising as a revenue source within the Productivity market.
  • The number of downloads in the Productivity market is projected to reach 25.82m downloads in 2022, emphasizing the widespread usage and demand for productivity applications.
  • Currently, the average revenue per download is expected to amount to €0.15, reflecting the monetization potential of each individual download.
  • It is worth noting that when comparing the Productivity market globally, in China emerges as the leader, generating the most revenue with a projected amount of €2,147.00m in 2022.
  • This showcases in China's strong presence and dominance within the market segment.

Key regions: India, United States, Japan, Asia, Germany

 
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Región
 
Comparación de regiones
 
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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.

Visión general

  • Revenue
  • Market Shares
  • Downloads
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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