It’s looking more and more like mobile apps have peaked. Yes, new hits spring up every now and then, and yes, some of them have become critical aspects of the average person’s life. But a few familiar names have a stranglehold over both downloads and revenue, and the amount of time people spend using those apps is stagnant.
Things usually change, but for now, most people simply buy a new phone, download the usual suspects (with maybe a few games), then call it a day.
This chart from Statista further suggests the app market has cooled. Citing recent research from CB Insights, it shows how the percentage of new, venture capital-backed startups using the word “app” in their company descriptions has steadily declined over the past three years. It’s still the top keyword overall, but it’s stopped growing.
Now, this isn’t a 1:1 thing. Many of these startups still do make apps. But as CB Insights suggests, those apps themselves aren’t necessarily the point – they’re just an expected part of any modern business.
So what could be the next big boom? Well, CB Insights’ data seems to agree with Google and Facebook: There’s been a notable rise in companies interested in “machine learning,” “artificial intelligence,” and “virtual reality.”