Users have spent a record $28 billion USD (about $37 billion CAD) globally on apps during the third quarter of the year, according to a new report from App Annie.
The report reveals that consumers downloaded 33 billion new apps and spent more than 180 billion collective hours each month in July, August and September using apps. This marks a 25 percent year-over-year increase.
Google Play downloads grew 10 percent year-over-year and accounted for 25 billion of the total 33 billions new downloads. The iOS App Store accounted for almost nine billion downloads, which is up 20 percent year-over-year.
Fifty-five percent of downloads on Google Play were non-gaming apps, while the figure for the App Store was slightly higher at 70 percent.
iOS App Store spending grew 20 percent to $18 billion USD (about $23 billion CAD), while Google Play spending increased 35 percent to over $10 billion USD (about $13 billion CAD).
Non-gaming apps accounted for 35 percent of the spending on iOS and 20 percent on Google Play, which is mainly due to subscriptions.
Increased consumer spending on apps can likely be tied to the pandemic and its impacts, since gaming and entertainment apps were the largest categories that consumers spent money on through Google Play and the iOS App Store.
Consumers also spent more than $20 billion USD (about $26 billion CAD) on games in Q3, which is the largest quarter ever.
Interestingly, App Annie predicts that mobile gaming will lead over desktop gaming by 2.8x and over console gaming by 3.1x by the end of the year.