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According to Stocklytics.com, Zoom mobile app downloads have plunged by 89% between Q2 2020 and Q4 2023.
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Data reveals a particularly stark drop in the Asia-Pacific region, one of Zoom’s key markets. The number of downloads in the region significantly dropped from 113.45 million in Q2 2020 to approximately 18.3 million in the last quarter of 2023.
Stocklytics Financial analyst Edith Reads commented on the data:
In 2020, Zoom was the most downloaded app on Apple devices. It reported $2.6 billion in revenue for the fiscal year ending in January 2021, a 326% rise from the prior year. The need for video conferencing tools like Zoom has waned as the world gradually adjusts to a post-pandemic reality. This is reflected in the app’s declining download numbers. While Zoom remains a significant player in the video communication landscape, its dominance appears to fade as life returns to normalcy and people return to in-person interactions.
Zoom’s ascent began in early 2020 as the global COVID-19 pandemic necessitated lockdowns and social distancing measures. With restricted physical interactions, the app became an indispensable tool for work, education, and social gatherings.
