Consumer Behavior
Mobile use, tech spend rebounds
January 17, 2024
Mobile, in terms of consumer spend and use, has rebounded after a one-year market slowdown in 2022 with consumer spending increasing to $171 billion, a 3% gain compared to a year ago.
That's a top finding from data.ai's annual "State of Mobile 2024" report that also revealed consumer mobile use hit 5.1 trillion hours, a 6% jump over 2022.
Yet mobile downloads remained flat at 257 billion, according to a press release on the data.
In 2024, direct consumer monetization in social apps through in-app purchases is set to grow 150% to $1.3 billion as competition ramps up.
"AI serves as the foundation for all apps, permeating every sector and paving the way for a fresh wave of digital innovation," Theodore Krantz, CEO, data.ai, said in the release. "Harnessing the power of AI, TikTok has revolutionized the landscape of engagement and monetization. In 2024, it stands poised to surpass gaming giants and secure its position as the highest-grossing app in history."
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