According to Sensor Tower, during the first half of this year, global consumer spending on mobile storefronts, like the Google Play Store or the Apple App Store, hit $65 billion. This represents roughly a 1% increase from the same period in 2021.
Despite this spending increase, the rate at which the market grows has fallen significantly. In fact, year-over-year growth in the first half of 2022 is accelerating at a rate 24.8% lower than the first half of 2021.
Overall, application installs from the Google Play and Apple App Stores fell by 1.5% to hit 71.2 billion downloads. The Google Play Store recorded 5.3 billion app downloads while the Apple App Store generated 15.9 billion downloads.
TikTok was the most downloaded mobile application during the first half of 2022. However, Instagram has been the most downloaded app on the Google Play Store so far this year.
In the end, Sensor Tower said that spending on mobile games reached $41.2 billion during the first half of this year. That represents a 6.6% year-over-year drop-off when compared to 2021.
(All information was provided by Sensor Tower)