Competition In The Indian App Industry Heats Up As Multiple Apps Vie For Customer Attention And Advertising Revenue

Must Read

Elon Musk Added Over $100 Billion To His Net Worth In Just 1 Year, Leaves Jeff Bezos Behind

Jeff Bezos may the world's richest person in the world but it's Elon Musk who has been...

iPhone 12 Plagued With Serious Problems: Should You Buy It, Still?

A serious problem with Apple iPhone 12, identified recently, is good enough to give a second thought...

Elon Musk Overtakes Bill Gates And Becomes the 2nd Richest Person in the World

It's been a good week for Elon Musk and his electrical vehicle business Tesla. Earlier this week,...

As the smartphone industry continues to grow and evolve in India, so does the app industry in India, as well as customer usage habits. A new report by Consumer Education and Research Centre and Chase India outlines some of the evolving app trends among Indian users, as well as identifying key high potential areas in the market.

According to the report messaging, video streaming, music streaming, social networking and web browsing were the top 5 most popular app use cases among India users, with messaging being the most popular online activity of them all. In fact, Indians spent an average of 30 minutes per day on messaging apps only. However, perhaps the most notable finding of the report was the competitive nature of the Indian app market, with plenty of consumers opting to use multiple applications for similar activities.

According to the data, 50% of users used more than one web browser, 42% used more than one online shopping app, 48% used more than one messaging platform, and 28% used more than one cab service app. This means that multiple apps are vying for customer attention in an increasingly cramped and cutthroat space.

Advertisements

Now, this data perfectly lines up with recent app download trends in India. India has been witnessing explosive app download growth as of late, with almost 215% growth over the last two years. To put this in context, this is almost double the growth rate of China (125%), which is perhaps the single largest app market in the world. This growth enabled India to register 12.1 billion app downloads on phones and tablets in 2017, even surpassing the US at 11.3 billion app downloads.

Another thing to note here is that India’s massive download numbers are not merely down to its large population either. It seems that Indian users are fond of maintaining a larger library of installed apps, with the average user using over 40 apps a month, out of a total installed base of 80. This puts India at the top of this particular list, ahead of even China.

However, despite all of this, monetization remains a sticking point in the Indian app scene. Users in India only spent about $200 million on apps in 2017, compared to $33.2 billion in China and $15 billion in the US. This means that in-app advertising (banner ads, native ads, video ads) and in-app purchases remain the best revenue generation prospect for developers in an increasingly competitive market environment. Word of mouth and customer perception has become of utmost importance, with a whopping 86% of consumers stating peer reviews and word of mouth as the key influencers in their decision to download an app.

Constant value addition and new features/content via OTT updates are vital, as well as catering to local demands and language barriers to keep the app relevant and at the forefront of the user’s mind.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Advertisements

Latest News

Backed By First-Time Shoppers, Flipkart And Amazon Dominated Festive Online Sales in India

It seems like Flipkart and Amazon squeezed the most out of the month-long festive season in India...

Amazon Gets Slapped With Penalty As GOI Prepares To Tighten The Noose On Ecommerce Players!

In a recent move, the Indian Government slapped Amazon on its wrist for not mentioning the country of origin detail for products...

Facebook’s Past Comes Back To Bite As South Korea Fines Them For 2018 Scandal

The social media behemoth Facebook Inc. (NASDAQ:FB) has once against proved they are the true arch-nemesis of modern-day user-privacy!

Amazon Future Group Dispute Deepens As Singapore Court Turns Down Future Group Plea

The dispute between Amazon and Future Retail is, apparently, far from over anything soon as the Singapore International Arbitration Centre (SIAC) has...

Google Pay Fee On Instant Transfer: An Indication Of Google’s Aggressive Monetisation Strategy?

Google has decided to levy fee on instant payment, starting from the US market. A few days back, Google...

Twitter Account Verification Is Back, But Has it Lost Its Mojo?

Twitterati queue up! As the Twitter account verification process which is responsible for awarding blue badges prepares to...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This