EU App Gains Continue to Grow
The app economy generated €187 billion of revenue in the European Union in 2019. Consumers downloaded more and significantly increased spend on the services, according to The App Association (ACT).
In a new study, conducted by Deloitte Finance, ACT noted mobile apps delivered 0.4 percent to EU’s GDP in 2019, while creating up to 1.7 million jobs. Direct revenue for app developers in the EU hit €86 billion, while indirect contributions of €101 billion were stimulated by additional business and household consumption. The Association noted app downloads rose by 7 percent year-on-year, with spending up 19 percent.
ACT said that apps are increasingly used by European citizens in areas spanning IoT, mobility, education and healthcare. It also forecast the higher speed and lower latency of 5G networks will allow developers to create richer user experiences, further increasing the use of apps. The group predicted a limited impact on app platforms from the COVID-19 crisis.