The end of the year is getting closer, and thus the forecasts for 2023 have appeared on the market. What the coming year will look like in mobile applications?
Last week, experts from data.ai released a forecast report for 2023. Mobile app specialists predict that mobile ad spending will reach $362 billion in 2023, mainly driven by the World Cup and the Winter Olympics.
This means a decrease of 7.5% compared to the previous year.
Due to the global economic situation, the mobile advertising industry is expected to grow more slowly next year. There is hope that the Winter Olympics and the FIFA World Cup will sustain higher spending.
Mobile gaming expenses
For a long time, spending in mobile games was resistant to economic crises, but the changes in privacy policies implemented by Apple and Google had a huge impact on the purchasing process in applications.
Consumer spending on mobile games is expected to fall by 5% in 2022 to $110 billion in the aftermath of the economic crisis.
Eleven of the fourteen categories consume more than $2 billion in the App Store are games.
Mobile shopping is taking over
Mobile shopping hit a record high this year on Black Friday, accounting for nearly 50% of all sales among the top 100 online retailers in the US.
According to Shopify, mobile devices accounted for 73% of global sales for smaller retailers and direct-to-consumer brands.
Travel apps, live events and sports will attract the attention of users who will spend more time in front of the screen in the coming year.
Summary
- Mobile ad spending to reach $362 billion in 2023,
- Consumer spending on mobile games will fall by 5% in 2022 to $110 billion,
- Mobile ad spending growth will slow down due to the economic crisis.
Source: data.ai
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