In today's digital landscape, mobile apps have become an integral part of our daily lives. With millions of apps available across various app stores, it's essential to understand what drives their growth and success. In this article, we'll delve into the latest statistics on mobile app growth, exploring key findings that can inform your next big app startup idea.
App Startup Ideas: Understanding Mobile App Growth
In 2023, the average cost per install (CPI) for mobile apps in the U.S. rose to $4.79, a 12.3% increase from 2022. This surge highlights the importance of effective user acquisition strategies. Interestingly, 68% of app marketers prioritize social media ads (e.g., Instagram, TikTok) for user acquisition, as per a 2023 Adobe report.
User Engagement: The Key to App Success
The average user engages with 9.2 mobile apps monthly, up from 7.8 in 2021. Gaming apps have the longest average session length at 42 minutes, while news apps average just 18 minutes. Moreover, 58% of users check apps at least 10 times daily, with 23% checking hourly. These statistics underscore the significance of crafting engaging user experiences.
Mobile App Revenue: A Growing Market
Global mobile app revenue is projected to reach $935 billion in 2024, growing at a 9.7% CAGR from 2023. Subscription-based apps saw a 20% revenue increase in 2023, outpacing in-app purchases. Mobile ad spend accounted for 62% of total mobile app revenue in 2023.
App Retention: The Key to Long-Term Success
The average 30-day mobile app retention rate is 25.4%, up from 22.1% in 2021. iOS apps have a 42.1% 7-day retention rate, while Android apps hold 38.7%. Users who engage with an app within 7 days have a 3x higher chance of becoming long-term users.
Conclusion
As the mobile app market continues to grow, it's crucial to stay ahead of the curve by understanding key statistics and trends. By leveraging insights into user engagement, revenue growth, and retention rates, you can inform your next big app startup idea and set yourself up for success in this competitive space.