According to Stocklytics.com, Zoom mobile app downloads have plunged by 89% between Q2 2020 and Q4 2023, with a particularly stark drop in the Asia-Pacific region – one of Zoom’s key markets – from 113,45-million in Q2 2020 to approximately 18,3-million in the last quarter of 2023.
“In 2020, Zoom was the most downloaded app on Apple devices,” says Stocklytics financial analyst, Edith Reads. “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.