However, mobile gaming didn't fare as well, with spending down 2% year-over-year to $107 billion. The report also noted the growth of Chinese shopping apps in Western markets, the increase in travel and ticketing app downloads, and the continued dominance of TikTok and Facebook in terms of installs, spending, and time spent. Data.ai predicts that mobile ad spending will reach $362 billion in 2024, a 16.2% increase from 2023.
Key takeaways:
- Consumer spending on apps saw a 3% increase in 2023, reaching $171 billion across various app stores. Non-game apps, driven by social apps and the creator economy, contributed significantly to this growth.
- More than 1,500 apps and games generated over $10 million annually in 2023, with 219 surpassing $100 million and 13 surpassing $1 billion. Four new apps reached $1 billion in the year.
- Generative AI advances fueled consumer spending in 2023, with the genAI app market expanding by 7x. More than 4,000 apps added the word “chatbot” to their app descriptions, indicating a growing interest in AI features.
- Mobile gaming did not fare as well in 2023, with spending down 2% year-over-year to $107 billion. However, gaming downloads accounted for 88 billion out of the 257 billion total downloads.