App development is about making our world a better place with varied innovation in technology. It is also about not just making money but for humanitarian advancement. So most of the company and freelancer’s are striving to jump into the app business.
However, sometimes your app may turn out to be less gracious than you have planned. Although there can be many reasons that can be encountered, a low-income app segment & an inappropriate monetization model are often the core of the failure for any app development.
These are most profitable app categories across various segements
1. Entertainment Apps
Games have always been the most popular app category, and they will remain the leader in terms of audience reach. Technologies easily come and go, but there is always room for new entertainment. It’s the essence of human beings, and you should use it to your advantage.
One of the important aspect of technology is that we can easily draw attention for millions of users across the world and have a great impact on thousands of downloads. Just like Subway Surfers or Angry Birds, your game should be 100% playable without any prior knowledge. Most of the app are using AI model for development of gaming app.
2. Business and Finance Apps
While games application represent the free time segment, business and finance apps focus on the targeted group of people who are inclined towards the money making process. These people are making money, and you can make it more convenient by developing business or finance app
Here are the most efficient business apps concepts you can earn with:
- Mobile payment app. People are paying with their smartphones more and more frequently these days during the pandemic. Bills, peer-to-peer and universal payments are in high demand right now. Come up with an app concept and start earning with the paid-services monetization model.
- Enterprise management software. Feel like playing big? Most SMEs lack quality management tools. Employee task tracker, productivity monitoring systems and organizers – all these apps are useful for the enterprise management. By charging companies for the office suite or for every employee in the system, you can generate substantial revenue
- Stock Trading App. Stock market application is aimed both at those who are interested in attractive companies for long-term investment and for those who want to make a short-term deal.
3. Lifestyle Apps
These applications cover the active audience that is always on the travel. Entirely different people, significantly different reach strategy and etc..– let’s figure out this segment in definitive way.
Thanks to the mobile revolution, everyone with a smartphone can now book taxi from anywhere you want to travel or gymnastic app for building body. These are handy technologies, and quite have a broader audience.
There are apps like Uber and TripAdvisor. You just subtract the fee from every transaction. That is pretty much it. If you strive to launch a food app like Yelp, you can monetize it with the restaurant owners you promote through your product.
4. Education Apps
What kinds are the most popular apps? Yeah. Games. It’s straightforward. But which ones have the highest levels of retention? Because of their immense importance, educational applications encourage users to return to them again and again. And this is what positions them among the types of apps that are most lucrative.
With additional premium content, education applications are better served, and the main term is ‘additional.’ Don’t push updates on the customers. Only supply your paying membership with the best free experience you can and kindly consider accessing even more.
5. Music & Audio App
We can hardly picture a person who on a regular basis does not listen to music. Once again, our preferences have been transformed for good by smart devices. Did you hear about Spotify? We’re betting you have. It is a perfect example of a great app for music, and you will learn a lot about it. Spotify helps you to enjoy the music for free, create playlists, etc.
6. Tool Apps
You start by searching for a suitable tool app anytime you need a flashlight application or a weather forecast. These items are only helpful, and this is their big-gest advantage.
In this section, you will bring your production efforts in and build an incredibly helpful app. Its monetization, though, is much trickier than the actual program. The argument is: these apps are barely downloaded more than a few times, ensuring that a paid membership would not even be noticed by anybody.
All in all, this category is a little bit complicated, but you can definitely excel if you are ready for challenges, because not many developers decide to go for this segment of a app.
7. Shopping Apps
Like the other app segments mentioned above, shopping apps have quite a wide range of audience across various countries. Shopping Apps are guaranteed to commercialize the traffic, given that any kind of customer centric app where user buys something from time to time. And the best news that there is nothing complex about generating income from a shopping application.
Read Also: How to create a shopping app like Amazon or Flipkart?
The Bottom Line
There are a wide variety of lucrative prospects for growth, as you can see. Only make sure you find the right one you can comprehend. This isn’t about what sort of apps make the most money, after all. It’s about how you can create something new and build it, make it work, and earn money. Stop at nothing and rely on client satisfaction, not on the money you are going to receive. Contact Us with your app idea and we’ll help to create a perfect app.