- By Ashish Singh
- Tue, 14 Nov 2023 08:26 PM (IST)
- Source:IANS
Social media has evolved tremendously, and users are taking every post seriously. According to the most recent Statista consumer insight survey, four out of every ten Indians use editing photo software to construct a virtual persona. According to the report, the United States currently leads the world in the use of such apps, with 43% of people using them on a regular basis. Furthermore, Japan ranks high with around 40%, followed by India with 42%. At the same time, the United Kingdom appears to be near the bottom, with barely 30% of individuals routinely using picture editing phone apps.
Based on statistics provided by OnlyAccounts.io, photo-editing apps have become more popular in the past several years than any other program, with the exception of messenger, mail, and browser. FaceApp emerged as a popular service in 2019 that allowed users to post images of their past or future selves on social media. Another example of a successful app is Lensa AI, a photo-editing program that saw over 19 million downloads in a single month after magical avatars were added.
Photo and video apps have become really popular on the App Store and Google Play Store, and they ranks among the highest earning categories. According to Statista, global spending on these applications is predicted to exceed USD 12 billion by the end of 2023, up 20% year on year. According to the company, in-app purchases will generate $1.5 billion, of which $3 billion will come from advertising and the remaining $2 billion from premium apps.
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Furthermore, Statista expects that the number of photo and video app downloads worldwide will reach 29.1 billion this year, exceeding the 6.1 billion expected for 2022. However, by 2027, the entire sector is expected to have delivered more than 37 billion downloads and 16 billion dollars in revenue.