- Global Downloads of Finance Apps Hit 3.4B in 2018, up 75% From 2016
Of the selected markets, emerging markets like Brazil, India and Indonesia saw the strongest growth in app downloads from 2016 to 2018.
- Global App Downloads Exceeded 194B in 2018, up 35% From 2016
Mature markets like the US continue to see large, consistent numbers of new downloads annually, but growth has slowed. However, growth in these mature markets is strongest when it comes to indicators of user engagement — sessions and time spent — and consumer spend.
- Fintech Apps Carve Out Larger User Bases and Foster Habit-Forming Behaviours
Growth in sessions of top fintech apps indicate the stickiness of these services and their ability to become weekly — even daily — habits. 2018 marked a turning point for fintech apps, with many making a move into consumer banking. With strong adoption, and a mobile-first strategy, fintech companies represent a clear disruptive threat to the traditional retail banking industry.
- Time Spent in Apps Globally Grew 50% From 2016 to 2018
The 5 categories with the fastest growing global market share were Video Players & Editors, Entertainment, Photography, Tools and Finance, respectively. Combined, total time spent in these 5 categories grew 110% from 2016. Social and Communications apps made up 50% of total time spent globally in apps in 2018, followed by Video Players and Editors at 15% and Games at 10%. Time spent grew from both growth in time spent per device and increases in global install bases.
- The Average Consumer in the US, South Korea, Japan and Australia Has Over 100 Apps on Their Smartphone
South Korea, Canada, the US, Thailand, the UK and Australia all saw significant 2-year growth in the average number of apps installed on smartphone devices.
- Point-of-Sale Fintech App PayPay Saw Meteoric Rise in User Base in First Two Months
PayPay is a fintech app by Softbank in Japan that allows users to pay in-store by scanning a QR code linked to a Yahoo! Wallet account. The app has seen phenomenal adoption since its October 2018 launch. Its smartphone weekly active users (WAU) in Japan have grown 46x over the 4 weeks ending the week of December 2, 2018.
- Over 685 Billion Hours Spent Globally in Social & Comms Apps in 2018, up 35% From 2016
Half of time spent on mobile globally was in Social and Communication category apps in 2018. While time spent in social networking and messaging apps grew year-over-year in 2018, it represented a slightly smaller portion of total time spent on mobile — indicating that mobile’s importance continues to spread into other areas of our lives.
- Mobile Transformation Pays Dividends & Dramatically Outperforms GDP Growth in Key Economies
Japan, Brazil and the UK were the top 3 countries where mobile consumer spend advanced significantly faster than overall Gross Domestic Product (GDP). This reflects the strength of the mobile economy, and how prioritising mobile through infrastructure, education and legislation will continue to have a positive impact on overall GDP.
- Gen Z Defines the World Order Through Mobile
Gen Z (aged 16-24) engages more on average with their most used non-gaming apps than those aged 25 and older. Specifically, Gen Z spends 20% more time and engages with their most-used apps 30% more often than the rest of the population. For Gen Z, mobile is second nature and used across nearly all aspects of life — communication, socializing, shopping, banking, etc. Mobile is non-negotiable to any business hoping to attract this demographic.
- The Average User Checks Their Bank Account on Mobile Nearly Daily in 2018, up 35% From 2016
In 2018, users in the UK checked their bank apps over 7x a week, a reflection of the UK as a fintech hub. This has put pressure on traditional banking to maintain their relevance in the face of fintech competition. Users in Australia checked their bank apps nearly 10x per week, fueled by an embedded culture of peer-to-peer transfers within banking apps.