Around 42 per cent (more than four in 10) of smartphone users in India now utilise photo-editing app to brush up their digital presence, according to a new report.
According to Statista’s consumer insights, the US is the top market for photo editing apps, with 43 per cent of smartphone users utilizing them regularly, followed by Japan and India with a 42 per cent share among respondents.
The UK smartphone users were at the bottom on the list, with 30 per cent regularly using these apps.
Over the past few years, photo editing apps have successfully climbed to the top of the market, standing side by side with basic apps like email, browsers, and messenger apps, according to data presented by OnlyAccounts.io.
In 2019, FaceApp went viral after users across social media platforms shared pictures of their older or younger selves generated by the app. The photo editing app powered by artificial intelligence, Lensa AI, also had overnight success, reaching more than 19 million downloads in a single month after adding the Magic Avatars feature.
Photo and video apps are among the most popular and highest-grossing app categories across the App Store and Google Play Store.
According to a Statista survey, smartphone users will spend roughly $12 billion on these apps by the end of 2023, or 20 per cent more than last year.
Half of the total revenue comes from in-app purchases. Advertising and paid apps follow with $3 billion and $2 billion in revenue, respectively.
Statista also expects people worldwide to download 29.1 billion photo and video apps by the end of this year, three billion more than in 2022.
By 2027, the entire market is expected to hit $16bn in revenue and more than 37 billion downloads.