Business - Norway

Norway

In 2022, the projected total revenue in the Business market in Norway is estimated to reach €6.02m.
This represents a significant figure for the country's business sector.
Looking ahead, the market is expected to experience a steady annual growth rate of 12.46% from 2022 to 2027, resulting in a projected market volume of €11.45m by 2027.
Within the Business market, revenue from in-app purchases (IAP) is projected to reach €4.35m in 2022.
This indicates a substantial contribution to the overall revenue generated within the market.
Additionally, revenue from paid app downloads is projected to reach €0.18m in 2022, further contributing to the market's financial landscape.
Advertising revenue within the Business market is also expected to play a significant role, with a projected figure of €1.49m in 2022.
This suggests that businesses in Norway are investing in advertising strategies to promote their products or services within this market segment.
In terms of downloads, the number of downloads within the Business market is projected to reach 2.17m downloads in 2022.
This demonstrates the level of engagement and interest from users within this market segment.
Furthermore, the average revenue per download is expected to amount to €2.77, indicating the value generated from each individual download.
When comparing the global market, it is noteworthy that in China generates the highest revenue in the Business market, with a projected figure of €943.80m in 2022.
This highlights the dominant position of the United States in terms of revenue generation within this market segment.

Key regions: Asia, United States, Europe, China, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.