India has been named as the world’s fourth largest app economy, and it’s expected downloads will top 7.7 billion by the end of the year, with an annual growth rate of 92%. The data comes from a report by App Annie, where it’s said the growth will continue and reach 20.1 billion app downloads by 2020.
Looking at a forecast of 2016, the Apple App Store is expected to come out ahead in terms of revenue, but Google Play vastly outperforms it when it comes to downloads. For revenue, iOS apps should reach $26b, while Google Play apps will come it at $17b revenue. Add in the $7b revenue from third-party app stores, and App Annie predicts $50.9b in total for the year, up from $41.1b last year.
iOS leads in revenue, while Google Play dominates downloads
Turning to app downloads, Google Play should surge ahead of the iTunes App Store, reaching 78 billion downloads. A total of 27 billion Apple apps are forecast to be downloaded, while another 41 billion should come from third party stores. Fast forward to 2020, and these numbers increase considerably for Google and third-party stores — a massive 166 billion for Google Play, for example.
App Annie dispels a myth that Indian smartphone users prefer browsers to apps, saying that 93% of phone users spend time in apps, a number that’s inline with the rest of the world. During the first quarter of 2016, the amount of time spent in apps had doubled over the same period in 2014. You can learn more about India’s app economy in App Annie’s complete report here.