Mobile App Trends 2024: Key Insights from Adjust and AppLovin
In this article, we’ll explore mobile app trends for 2024 based on data from Adjust and AppLovin.
The report, ‘Mobile App Trends: 2024 Edition,’ provides practical insights and benchmarks that will be valuable for marketers and anyone interested in digital trends.
Key Takeaways from “Mobile App Trends: 2024 Edition”
- Growth of Fintech and E-Commerce Apps
In 2023, there was significant growth in mobile app installs and sessions. Fintech app installs increased by 42%, with sessions up by 24%.
Similarly, e-commerce app installs grew by 43%, sessions increased by 14%, and user loyalty reached 16.1%.
- Rise in Game Installs
In Q4 2023, game installs saw a global increase of 7%. The regional breakdown is as follows:
- Asia-Pacific (APAC): +3%
- Europe, Middle East, and Africa (EMEA): +12%
- Latin America (LATAM): +19%
- North America: +6%
- Gaming Revenue
Gaming revenue grew by 6%. According to Adjust, the downward trend in 2022 has reversed, with global mobile app installs up by 4% year-over-year.
Financial Apps: Industry Statistics, Trends, and Forecasts
In 2023, the number of mobile banking app users reached 3.6 billion and continues to grow. The mobile banking market is projected to reach $7 billion by 2032, with an annual growth rate of 16.8%.
Mobile fintech apps have shown significant growth, with installs increasing by 42% and sessions by 24%. The highest growth in installs was recorded in April and May, reaching 95%.
The regional growth distribution is as follows:
- Asia-Pacific: installs increased by 48%
- Europe, Middle East, and Africa: sessions grew by 31%
- North America: installs decreased by 12%, with sessions down by 16%
Overall, user loyalty to fintech and banking apps has increased. Users are returning to these apps more frequently and using them on a regular basis.
Mobile Apps in E-Commerce
Last year, mobile e-commerce sales reached $2.2 trillion. This figure is expected to grow to $2.5 trillion in 2024, making up 60% of the total online retail market.
Globally, users spent 100 billion hours in shopping apps, with 91% of smartphone owners making purchases on their devices.
Sales through social media are projected to grow at an annual rate of 31.6% until 2030, according to the “Mobile App Trends: 2024 Edition” report. This is understandable, as 83% of Gen Z starts their product searches on social networks.
Games: Industry Statistics, Trends, and Forecasts
In 2023, mobile apps accounted for 49% of the total revenue in the global gaming market, reaching $90.4 billion.
Consumer spending on mobile games decreased by 2% compared to the previous year, totaling $107 billion. However, outside of China, this figure grew by 4%.
Among the most popular games by user spending in 2023 were:
- Candy Crush Saga
- Honor of Kings
- ROBLOX
- Royal Match
- Coin Master
- Genshin Impact
- Gardenscapes
- Monopoly GO
- Pokémon GO
- Game for Peace
According to the “Mobile App Trends: 2024 Edition” report, spending on mobile game advertising is expected to reach $103 billion this year and $131 billion by 2025.
In 2023, Bang Bang became the most popular mobile esports project by broadcast viewership, totaling 530.16 million hours. PUBG followed in second place with 135.16 million hours of viewing.
User Acquisition and Retention in Mobile Games
Overall Trend
In 2023, the anticipated breakthrough in the number of installs and sessions for mobile games did not materialize, although the situation did improve.
In the fourth quarter, installs increased by 7% compared to the previous year. This offers hope for a positive trend in the future, especially due to the growing popularity of hybrid casual games.
Regional Differences
In 2023, Latin America saw the highest growth in mobile game installs, increasing by 7% and sessions by 1%. Meanwhile, the EMEA region experienced a slowdown with a 9% decrease, and North America saw a 6% decline.
However, the situation improved in the fourth quarter of the previous year. In the Asia-Pacific (APAC) region, installs grew by 3%, in EMEA by 12%, in Latin America by 19%, and in North America by 6%.
Popular Genres
Action games hold the largest share of installs at 18%, followed by:
- Hyper-casual and puzzle games (14% each)
- Casual games (9%)
- Sports games (8%)
- Action games also lead in the number of sessions, accounting for 27%.
They are followed by:
- Puzzle and sports games (12% each)
- Board games (7%)
- Casual games (6%)
Emerging Subgenres
Several subgenres of mobile games have shown significant growth. For instance, racing games increased their installs by 61%, while simulation games grew by 53%.
Regarding sessions, arcade games saw a 19% increase, and adventure games grew by 7%.
Conclusion
Successful mobile app marketing requires swift and precise decisions. Marketers and developers need effective tools, cutting-edge technologies, and reliable partners.
Although growth rates have slightly slowed, the mobile app industry continues to evolve and generate profit. The market remains full of opportunities for professionals.
Tips for Successful Promotion
- Omnichannel Approach and Big Data in Marketing
According to data from AppLovin and Adjust, there is a growing trend towards omnichannel marketing, which involves using various communication channels.
We fully support this trend. At BYYD, our specialists employ diverse methods for data collection. For example, with access to Big Data, we can leverage TV viewership information to achieve more accurate targeting in mobile advertising.
- Using AI for Personalization and User Retention
Artificial intelligence is becoming a key element of success in mobile marketing, recognized by 55% of executives. This is not surprising, as AI helps to quickly and effectively set up and optimize advertising campaigns.
BYYD has long been utilizing AI tools in its operations. This provides us with access to a larger volume of data and enhances our mobile campaign tools. As a result, we not only stay on top of the latest trends but also apply them effectively in practice.
The BYYD platform specializes in mobile app advertising across various sectors, from games to financial applications. We offer a range of formats, including rich media with gamification elements.
Explore our case studies and contact our specialists to launch your campaign.
Found this useful? Share it with friends and colleagues!
For consultations and partnership inquiries:
- Submit a request on our website
- Email us at hello@byyd.me