Global tech company SHAREit Group, has announced it is expanding into the African market to unlock the potential of the mobile services industry on the continent.
This comes at a time when Africa has become one of the fastest-growing regions in the global mobile and app market, according to research done by GSMA Mobile Economy. It states that 615 million people (50% of Africa’s population) in Sub-Saharan Africa will subscribe to mobile services by 2025.
Also, $155 billion of the economic value added will be generated by mobile technologies and services by 2025.
The SHAREit platform enables users to share files at a high speed without internet data, and access seamless high quality digital content.
In the latest AppsFlyer Performance Report (14th Edition) released in 2022, SHAREit was ranked as the No.4 media source globally in volume and power rankings in non-gaming categories on the IAP index.
The SHAREit Group has achieved significant business growth in the Fiscal Year 2021/2022 globally, with company revenue increasing by 220% .
Karam Malhotra, Partner and Global Vice-President at SHAREit Group, explained that “Africa has been identified as one of the most exciting markets as it is largely an Android market, with increasing digital behaviour and adoption of new technologies. We are expecting Africa to outperform our average growth in 2022 and become one of the leading regions for our company in the next three years.”
Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Group mentioned that “In the new financial year our focus has been on tech verticals which includes sectors like e-commerce, fintech, foodtech, video, gaming and edtech. Our objective will be to ensure that we add massive value and growth to our partners with strong performance solutions in Africa and other parts of the world.”
AppsFlyer has also outlined four key success factors for app growth in the continent in its African Mobile Apps Landscape Report. These include app marketing, growing user base and driving installs, understanding customer journeys to generate high-value in-app actions and driving customer value by improving the user experience.
The African market has shown a very promising future in the mobile app industry by having millions of potential users and technological growth. SHAREit Group believes this makes it a bright and promising region to grow and unleash new opportunities.