Global consumer spend on mobile apps is expected to grow 24% in 2016, reaching $50.9 billion—and eventually doubling from that level within four years to reach $101.1 billion in 2020—according to a recent report from App Annie.

The report was based on forecast gross spend by global users across Apple's iOS App Store, Google Play, all third-party Android app stores, Microsoft's Windows Phone Store, and Samsung's Galaxy Apps. The projections include revenue generated from in-app purchases, subscriptions, and paid downloads, but not advertising and e-commerce revenue.

The rapid mobile app revenue growth will be driven largely by two factors, according to the analysis: strong app adoption in developing economies, and mobile apps' ability to capture greater wallet share in mature economies.

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image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

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Twitter: @ayaznanji