SensorTower2024 State of Mobile: The App Market Bounced Back in 2023 and is Primed for a Record-Breaking 2024
Summary
The mobile market rebounded in 2023 after a slowdown in 2022, driven by the creator economy and subscriptions. Consumer spending hit a record $171 billion (+3% YoY), with apps outpacing games at 11% growth to $64 billion. Social apps pioneered new monetization via in-app tipping.
Generative AI experienced explosive growth of 7x, led by ChatGPT. Travel apps set new records with over 3 billion downloads, up 13% YoY. Mobile ad spend reached $362 billion (+8% YoY).
Mobile gaming saw a 2% decline to $107 billion, but most markets outside China grew 4%. Chinese shopping apps Temu and SHEIN expanded globally, growing 140%.
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