Latin America Mobile Application Market Size & Outlook
Latin America mobile application market, 2018-2030 (US$M)
Related Markets
Latin America mobile application market highlights
- The Latin America mobile application market generated a revenue of USD 21,064.5 million in 2023.
- The market is expected to grow at a CAGR of 11.8% from 2024 to 2030.
- In terms of segment, apple store was the largest revenue generating store type in 2023.
- Google Store is the most lucrative store type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 21,064.5 million |
| Market revenue in 2030 | USD 46,039.4 million |
| Growth rate | 11.8% (CAGR from 2023 to 2030) |
| Largest segment | Apple store |
| Fastest growing segment | Google Store |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Google Store, Apple Store |
| Key market players worldwide | Alphabet Inc Class A, Apple Inc, Microsoft Corp, Amazon.com Inc, Vivendi SE, Netflix Inc, Ubisoft Entertainment, Xiaomi Corp Class B, Practo, Cult.fit |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.2% of the global mobile application market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 204,021.2 million by 2030.
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Mobile Application Market Scope
Mobile Application Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America mobile application market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to mobile application market will help companies and investors design strategic landscapes.
Apple store was the largest segment with a revenue share of 60.81% in 2023. Horizon Databook has segmented the Latin America mobile application market based on google store, apple store covering the revenue growth of each sub-segment from 2018 to 2030.
Factors such as rising smartphone penetration, improving internet connectivity, and a growing middle-class population are driving the growth of the mobile application market in Latin America. According to the U.S. Energy Information Administration, from 2022 to 2050, the average annual percentage change in disposable income per capita in Brazil, Mexico, and other Latin American countries is expected to be 0.4%, 0.9%, and 1.0%, respectively.
The expanding middle class in many Latin American countries is resulting in higher disposable incomes, which could increase consumer spending on digital services, including mobile applications.
Moreover, the rise of e-commerce in the region is closely linked with mobile applications, as consumers increasingly use mobile apps for shopping and digital payments. Mobile wallets and payment solutions are becoming more popular, facilitating mobile commerce.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America mobile application market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America mobile application market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America mobile application market size, by country, 2018-2030 (US$M)
Latin America Mobile Application Market Outlook Share, 2023 & 2030 (US$M)
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