4 Key Predictions for the 2024 Mobile App Market from data.ai

Data.ai, a company focused on analysis, recently shared a forecast about the expected changes in the mobile app market for 2024. This forecast includes 4 main predictions for the 2024 mobile app market. Here are the main points:

1) About 2.3 billion downloads of mobile apps with generative artificial intelligence features are predicted by 2024

The emergence of ChatGPT in 2023 has generated significant interest. Searches for the query “artificial intelligence” grew almost tenfold, peaking in April of that year.

In addition, downloads of generative apps have increased nine times in the last year. According to the forecast, the role of generative AI in mobile apps will increase significantly in 2024. The number of content-generating app downloads is expected to increase by 40%.

In 2023, downloads of apps that utilize artificial intelligence technology also increased by 60%. These include platforms for editing photos, videos and enhancing selfies.

According to data.ai, users actively interact with the ChatGPT app on weekdays, which confirms the positive impact chatbots have on employee productivity. Read more about how neural networks impact marketers’ work in general here.

2) Data.ai predicts a decline in X (Twitter) and Threads activity in 2024

The decline of microblogging apps is expected to persist due to intensified competition for user attention and evolving user preferences. While platforms like X will likely maintain their audience, there’s a growing inclination among users towards photo and video-centric social networks.

For example, X’s daily active user base is expected to shrink to 250 million. According to this forecast, the number of users will decrease by 53 million compared to April 2022, when the platform was acquired by Elon Musk.

This article is more about the Threads social network.

In addition, TikTok will continue to compete with X as the main source of news. Currently, 43% of TikTok users claim to receive news information through this video platform.

Previously, the news channel function belonged to X (Twitter). However, in 2023, the percentage of users receiving news through this platform has dropped from 59% to 53%.

3) According to data.ai, TikTok will become the most profitable app in history

This year, TikTok is set to surpass Candy Crush Saga and take the top spot among the most profitable apps in history. TikTok’s accumulated spending in 2023 increased by 70%, surpassing the legendary puzzle game’s spending growth of just 19%.

It is worth noting that Candy Crush, released in 2012, immediately began to monetize through app stores, while TikTok began to rapidly increase revenues only from 2016.

By the way, experts at data.ai predict that Disney+ will reach $7 billion within 5 years of launch and Genshin Impact will reach $6.3 billion within 4 years. These figures indicate the rapid growth of both platforms in the entertainment and gaming app industry.

4) In 2024, spending on gaming apps will grow, especially in the U.S., Japan, and South Korea

In 2023, consumer spending in mobile gaming decreased by 3% to $107.5 billion. This decline is attributed to the decreased financial capacity of consumers due to inflation and economic hardship due to the pandemic.

However, a positive trend is expected, with consumer spending expected to grow by 4% to reach $111.4 billion by 2024. Nevertheless, they will remain below the peak levels observed during the COVID-19 pandemic.

The United States is expected to consolidate its position with 40% of the total annual growth in mobile gaming spending in 2024. They will be followed by:

• Japan
• South Korea
• Taiwan
• Germany
• United Kingdom

In 2024, an upswing in spending within mobile game genres like RPG, Match, Party, and Casino is expected, aligning with the projected trends for the 2024 mobile app market. However, their distribution is anticipated to be more evenly spread compared to other markets.

This forecast presents an encouraging outlook for the gaming industry, indicating a shift towards a more moderate growth trajectory as predicted for the 2024 mobile app market. Yet, challenges may emerge, particularly within the Chinese market, due to advertising limitations, the emergence of alternative app stores, and regulatory measures.

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• Mobile gaming trends 2023: insights from the Digital 2023 July Global Statshot Report
• Mobile games ranking and other insights from the Digital 2023 October Global Statshot Report
• How Chinese cars are conquering the consumer market

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