Mobile App Revenue to Soar as Smartphone Adoption Escalates

With roughly 5.3 billion mobile phone users worldwide − or 57% of the world's population − using smartphones, global mobile app-generated revenue is expected to increase by 55%, reaching $613 billion by 2025. This is according to a report compiled by fintech firm Mejores Apuestas, which notes the global mobile app market continues to surge and is expected to hit over $400 billion in value, by the end of 2021, growing by 25% year-on-year (YOY). App revenue covers all revenue generation through mobile apps, including advertising, in-app purchases and subscriptions. Before the COVID-19 pandemic, the global mobile apps industry was…