App Annie, a mobile app analytics company has reported that India has grown to become the World’s 4th largest app economy. The company has also said that the time spent on apps by Indians have gone up drastically.
The companies that are ahead of India interms of yearly app downloads are China, US and Brazil. India might take a higher position given that a growth of 92% is predicted, making the total downloads to 7.7 billion and by 2020, it would reach 20.1 billion.
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App Annie APAC MD Yunde Yu said that the introduction of affordable smartphones and improved infrastructure support for smartphones combined with India’s population gives huge potential for growth in this area.
He also added that the key aspect that drives app economy now is the amount of time that users spend on mobile apps, rather than revenue or number of downloads.
In the first quarter of 2016, Indians spend more than twice the time on mobile apps than they did during the same period in 2014.
One surprising finding was that above 25% of Android users are using at least one ride-sharing app such as Ola Or Uber. This figure is below 20% in the US, UK and Brazil.