The forthcoming year, 2024, holds significant shifts and opportunities within the mobile app landscape. Data.ai’s latest report highlights key trends and projections reshaping the industry.
Generative AI Dominance
Anticipated to hit 2.3 billion downloads, Generative AI applications—like chatbots and image/video generators—are poised for extensive growth, shaping user experiences in diverse ways.
Shift in Social Media Dynamics
Microblogging platforms like X (Twitter) and Threads are predicted to encounter decline due to a broader consumer shift toward photo- and video-centric social networks. Additionally, changes in news content consumption contribute to this transformation.
TikTok’s Unprecedented Profit
In 2024, TikTok is set to make history as the most profitable app, nearing the staggering $15 billion mark and raking in over $11 million daily, marking an unparalleled financial feat.
Rising Gaming Expenditure
Gaming expenditure is expected to surge, driven by increased spending in the US, Japan, and Korea. Categories like RPG, Match, Party, and Casino games will notably contribute to this growth, diversifying market expansion.
Social Media’s Revenue Evolution
In-app purchases are poised to become the focus of social media revenue streams in 2024. This shift marks a transition from reliance on advertising revenue to direct consumer monetization, projected to witness a 152% increase, approximating $1.3 billion in consumer spending.