What Type of Mobile Apps Make Most Money?

It may sound interesting to know that there are 8.93 million mobile apps in the world, 3.5M on Google Play Store and 1.6M on Apple App Store. Every day, on average over 1000 new apps are released on Play Store. Source

However, despite such a big scale of apps running on the app store, not all apps are able to generate good business revenue. Some of the apps produce a great range of business profits while some not. 

Why this is so?

This is because some app category has huge demand in the market.  If you look at the latest data on Statista, you will find some categories in mobile apps produce better money than other categories. 

(Source: Statista)

So, if you are thinking of custom app development or developing mobile apps that make money in good amounts, you must focus on creating these types of apps.

1. Gaming apps

Gaming is the most popular and profitable category in mobile apps. There are many gaming apps that have gone viral in no time and acquired huge userbase across the global mobile users. Some popular gaming apps like Honor of Kings, PUBG, and Candy Crush Saga produced profits in millions and billions of figures. So if you are thinking of creating apps to make money in billions of figures, enter the gaming industry. 

2. Education apps

Education app is also one of the top-growing niches in the mobile app development industry. In 2022, the education app industry made $7 Billion, with a 7.2% increase in the last year. Top mobile app development company suggests this growing demand for online education and eLearning is due to increasing smartphone adoption and digitization. Therefore, the demand for education app development is increasing at a fast pace. 

3. Finance Apps

Financial apps encompassing mobile banking, money management, and investment platforms are growing in profitability. These apps may generate revenue through freemium models with premium features, transaction fees, or partnerships with financial institutions. People today look for innovative and feature-rich apps for various financial needs like investment, finance management, budgeting, streamline business processes, and so on. So, developing this type of app can also be a profitable idea for you. 

4. Live Video Streaming Apps

Live video streaming platforms are another major moneymaker. Apps like Twitch and YouTube allow viewers to donate directly to streamers, who can also earn revenue through subscriptions and advertising partnerships. The engaging and interactive nature of live streaming fosters a strong connection between creators and viewers, leading to a willingness to spend. Here, you can come up with creative live video streaming app concepts like offering AR/VR features, immersive experiences, etc. 

5. Short Video Apps

The rise of short-form video content has created a new wave of profitable apps.

Platforms like TikTok monetize through advertising and in-app purchases for virtual gifts or creator funds. You might feel amaze to know that TikTok reportedly generated $16.1 Billion in business revenue in 2023. The massive user base and highly engaging nature of short videos make these apps prime real estate for advertisers. Therefore, if you want to develop mobile app that makes huge money then plan to build a short video app. 

6. Entertainment Apps

Subscription-based entertainment apps like Netflix, HBO Max, and Disney+ are a major source of mobile app revenue. By providing on-demand access to a vast library of movies, TV shows, and originals, these apps attract users willing to pay a monthly fee. These apps also have huge demand and make great money in the consumer market.

Final Thoughts

So these are the most demanded types of mobile apps which make most money. However, there are also other types of apps and categories that have good demand in the market. The final choice largely depends on your business goal and budget. 

You can think of gaming apps earn in billions of figure. But you also have to invest a lot to build such a high-standard gaming app like those. 

Therefore, it is important to seek consultation from an experienced mobile app development company. They will guide you in choosing the right niche and build a well-thought strategy to build a mobile app that makes good money.