Mobile Finance App Trends: Insights and Forecast for 2024
Here we review key trends in mobile finance apps for 2024 based on the State of Mobile Finance Apps 2024 report and Statista analytics.
The report highlights revenue growth in fintech apps and identifies the leading app categories.
Finance App Revenues Are on the Rise
In 2024, mobile finance apps generated $1.87 billion in revenue. According to forecasts, this figure will grow to $2.10 billion by 2025.
The compound annual growth rate (CAGR) for the period up to 2029 is projected to be 8.31%, indicating steady market expansion over the next few years.
The key revenue sources for mobile finance apps have remained consistent throughout 2024:
- In-app advertising – 71.5%
- In-app purchases – 25%
- App subscriptions – 3.4%
The balance between categories remains stable. All segments are showing growth without significant changes in revenue structure.
Apple vs Android: Who Led in Financial App Revenue
In 2024, 73.3% of mobile finance app revenue came from Apple devices, driven by the high purchasing power of iPhone users within apps.
At the same time, Android devices are gaining ground. In 2024, Android users accounted for 26.7% of total revenue, a significant increase compared to 18.2% in 2018.
The gap between platforms is narrowing, suggesting growing monetization opportunities in the Android ecosystem. However, Apple continues to dominate the market, particularly in regions with higher average spending per user.
Cryptocurrency Apps on the Rise
In 2023, the revenue of cryptocurrency exchanges reached $43.5 billion, and in 2024, cryptocurrency apps continue to grow, reflecting high interest in digital currencies and blockchain technologies.
Binance became the leader in cryptocurrency app downloads in 2024, also ranking among the top in the US and Japan.
The fastest growth is seen in Southeast Asia, especially in Indonesia and the Philippines, where cryptocurrencies are widely used for international transfers and as an alternative to traditional banking services.
Financial App Downloads Growth
According to Sensor Tower, financial app downloads were projected to reach 7.7 billion by 2024.
However, as reported by Statista, the actual number of downloads exceeded expectations, reaching 7.9 billion. The significant growth began after 2022.
India remained the leader in downloads, with 1.7 billion downloads in 2024.
Southeast Asia and the US also showed strong growth in downloads, while in China and other regions, the growth was more stable but moderate.
The Mobile Payment App Market Grew in 2024
In 2024, the revenue of mobile payment apps continued to grow, surpassing $20 billion.
The main source of revenue is transaction processing fees, which are charged to banks or merchants for each transaction.
According to the Finance App Report 2024, the market will keep expanding as more users switch to mobile payments and actively use digital financial services.
Which types of financial apps were popular?
In 2024, cryptocurrency, digital payment, and finance apps grew in popularity as users sought easier ways to manage transactions and access digital assets.
Preferences for apps vary by region.
- In the US, users are actively choosing investment platforms and financial planning apps.
- In China, there is an increasing demand for lending apps (+34.5%) and insurance apps (+25.3%).
- In Europe, payment services and banking apps are in high demand, which is due to security requirements and strict regulations.
Today, mobile financial apps are the foundation of fintech.
They have evolved from simple payment tools to full-fledged ecosystems. These apps attract a young and financially capable audience, making them an excellent platform for advertising.
Ads can be run in various types of apps, such as:
- Banking services
- Personal finance management apps
- Cryptocurrency platforms
- Investment platforms
Our advice: don’t delay your in-app campaigns. Explore case studies and start promoting with BYYD, a leader in mobile advertising.
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