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The use of artificial intelligence (AI) in mobile apps has seen a remarkable surge in popularity, driving consumer spending to an unprecedented $150 billion globally in 2024. This represents a significant 13% increase from the previous year, according to Sensor Tower's annual "State of Mobile" report. The rise of AI-powered apps like ChatGPT, Gemini, and ByteDance's Doubao has led to a staggering 200% year-over-year increase in consumer spending, amounting to nearly $1.1 billion in 2024 alone.
As consumers continue to demand more intelligent and personalized app experiences, the growth rate of AI apps shows no signs of slowing down. In fact, Sensor Tower predicts that this category could soon break into the top 10 by consumer spending within a year, if current trends persist. The release of innovative AI models, such as OpenAI's GPT-4, has certainly contributed to this surge in popularity.
What's more impressive is the consistent demand for AI apps throughout the year, rather than just during peak surges. As a result, consumers spent an astonishing 7.7 billion hours using AI-powered apps in 2024, while apps mentioning "AI" were downloaded a whopping 17 billion times. ChatGPT, in particular, reached an impressive 50 million monthly active users, surpassing popular platforms like Temu, Disney+, and YouTube Music.
The growth of AI-powered apps is just one aspect of the broader mobile app ecosystem. Other categories, such as streaming, crypto, e-commerce, and fintech, also saw significant movement in 2024. While streaming apps experienced a slight decline in engagement, their in-app revenue and downloads continued to grow. Crypto apps like Binance and Tonkeeper made it into the top 10 finance apps by downloads, while e-commerce apps Temu and Shein dominated the retail subgenre.
The fintech sector also saw impressive growth, with finance apps retaining double-digit year-over-year growth for time spent in 2024. In addition, four games and one app reached the milestone of passing $1 billion in consumer spending in 2024, including Last War, Whiteout Survival, Dungeon & Fighter, Brawl Stars, and WeTV.
The full report from Sensor Tower is available on their website, providing an in-depth analysis of the iOS App Store and Google Play, as well as insights into the global app market.