There is an app for everything today. Want to order some food? Order it through an app. Want to check your blood pressure but don’t have the equipment? Check it through an app. Do not want to go to the bank for financial transactions? Do it through an app. Want to find the love of your life? Find them through an app. If you can think of an idea for an app, chances are that it has already been implemented.
All About Popularity
One of the most interesting factors of the app economy is perhaps the fact that anyone can gain a competitive advantage over others. The main key to success is through popularity. It is interesting to observe how most popular apps can rise to the top.
But the important thing is to maintain this popularity. An organization can create a single popular app that may remain at the top for some time. To remain consistently on the top is the real challenge for app developing organizations.
Apps and Their Economy
As mentioned before, there are millions of apps available for every purpose and need. Similarly, there are millions of users of these apps around the world. Day by day, the revenues for apps increase rapidly. This has created a huge app business economic ecosystem globally.
**It is estimated that by the time it is 2021, the economy of the app businesses will reach around a staggering amount of $6.3 trillion!
Apps: Revenues and Popularity
All apps have their own popularity and fan-base. But there are some which reach the top and acquire the number one position rapidly. They stay there for a long time. In 2020, there has been a shift in the most popular app positions which is very interesting.
The king of all communication apps, Whatsapp remains at the top even towards the end of 2019. There are only a few people around the globe who do not use this app for messaging or calling purposes. Whatsapp is a pioneer in the communication world. Today, it stands at a worth of $19 Billion. Despite having many controversies attached to it, it is the most downloaded app throughout the world.
Tiktok beat the Facebook family in 2019 by replacing the Instagram app from the second most popular app position. It has been developed by a Chinese organization. The revenue reached around $177 million dollars in a year. This is five times more than where TikTok was last year.
Another member of the Facebook family, it is the number 3rd most popular app used for communication purposes. This is especially true amongst the Gen Z. This platform continues to grow rapidly as the number of downloads increases day by day.
The world of apps is evolving every single day. Thousands of apps are published in a single day on different platforms such as Google PlayStore. The coming years will observe a major change in the worldwide economy due to the role of these apps in the economy. With the rise of TikTok on the popularity and revenue charts, app developers around the world have become more hopeful to reach the top.