Mobile Application Revenue Statistics 2024

For most people, smartphones have become a platform for running the various apps they need for their daily lives. Of course, the core aspects of a phone still matter, but perhaps a bit less in comparison. Therefore, it is no surprise that mobile applications have become an enormous industry, generating impressive revenue across all categories.

Today, we will look at some of the top mobile application revenue statistics for 2024.

Some Key Contextual Points

We will start with some statistics that provide context and explain the unprecedented growth in mobile app revenue numbers. These pointers will explain why we have such an enormous market for mobile apps in the first place.

• The number of internet users has skyrocketed across the globe, with its impact significantly contributing to the growth of economies such as India, China, and Brazil.
• Countless users have opted for internet-based services over traditional ones like SMS and calls.
• The increasing number of affordable smartphones and cellular data plans are also responsible for this amplified usage.
• In the past decade, mobile gaming has gained unprecedented popularity. Game developers have increased spending on marketing and made many games available for free, leading to a significant rise in game downloads across various markets.
• The COVID-19 pandemic was a significant factor in the growing popularity of mobile games and social media apps. Additionally, entertainment apps capitalized on people’s boredom, becoming integral to their daily lives.
• It must also be noted that smartphone users globally have reached more than 6.5 billion.
• Americans, on average, are likely to check their smartphones more than 100 times daily.
• Statista states this number will likely surpass 7.7 billion by 2027.
• Regarding demographics, almost 90% of millennials use smartphones as an integral companion throughout the day.
• Moreover, StatCounter indicates that mobile devices hold the lion’s share compared to desktops and tablets in terms of usage.

I believe these statistics provide the context for why mobile applications have experienced such significant market growth over the last ten years. After the COVID-19 pandemic, these numbers have only multiplied, and the AI revolution has been a major catalyst in this process.

Mobile Application Market Growth Statistics

We will first look at some statistics about the growth of the mobile application market. These statistics not only highlight the expansion of the market but also indicate the potential impact on revenue from these sectors.

• According to 2022, the mobile application development market has a total valuation of $206.73 billion. Compared to $187.58 billion in 2021, this was unprecedented growth.

• The revenue numbers and the growth of the mobile application development industry are expected to grow further by the end of 2025. The acceleration is expected to produce a CAGR of 20.65%.
• Market forecasts indicate that the mobile app revenue will exceed $613 billion by 2025. The increasing growth of mobile applications, particularly mobile games, is expected to contribute to this enormous number.
• Between 2015 and 2020, the app store revenue rose to $80.6 billion from $35.8 billion. Game revenue has always been at the top of these numbers, up 83% in 2015 and 72% in 2020, respectively.
• During the same period, non-gaming apps experienced noticeable growth as well. In 2015, only 17% of the market revenue was produced by non-gaming apps, which rose to 28% in 2020.

As you see, the mobile application industry and its revenues will only grow in the coming years.

Mobile In-App Spending Stats

Here are some statistics about how much money is spent on mobile applications through in-app purchases.

• The most significant source of revenue for app developers is advertisement streams displayed on the applications. However, in-app purchases are in second position, which crossed the $150 billion mark in 2022.
• Some changes are expected in the revenue structure, though. For instance, subscription-based revenue is expected to increase in the form of in-app purchases and otherwise.
• Similarly, advertising revenue continues to dominate, thanks to regional advertising and emerging markets.
• Tinder has the top position regarding the most earning applications on the Apple App Store, with a whopping $37 million in revenue. This is primarily due to the in-app purchases which offer Tinder Premium.
• Only 5.5% of non-gaming apps attract subscriptions compared to downloads. That is, in general, even if an app is downloaded 1000 times, only 55 are likely to choose the subscription plan.
• The App Store consists of more than 1.6 million applications that are less expensive than $1.00.
• On the other hand, you will only find 280 plus apps with a price range of $9 to $10.
• Regarding Android, the Google Play Store has over 39,000 apps that cost less than a dollar. The number of apps priced between $9 and $10 is close to that of the Apple Store at 2,300, but you are likely to find around 27,000 apps that are priced within the range of $1 to $2.
• The last decade has seen nothing less than an exponential growth in the number of available applications in the Apple App Store. In 2013, the App Store consisted of close to 700,000 apps and 162,000 games. In 2023, the numbers had grown to 3.8 million apps and 1 million games.

• According to March 2024, US app publishers seem to take a different route for monetization. For instance, unlike overall apps, US-made apps tend to avoid ads. Instead, they create better revenue through in-app billing and paid apps.

Top Mobile Application Revenue Stats

Here are the top players in ensuring the highest revenue from mobile applications.

• According to June 2023, DouYin is the leading iPhone app in terms of revenue, with recorded revenue of $372 million.
• In the second position, we have TikTok with $324 million, followed by Piccoma with $228 million.

• HBO Max is one of the few US-made applications on the top 10 list.
• In the case of Android, the numbers are different because Disney Plus is the highest revenue app with earnings of $70 million.
• TikTok only has the third position in revenue on the Google Play Store as it has an income of $38 million.
• Other top mobile applications on Android include Google One, Peacock, Crunchyroll, Tinder, and Bumble.

The number of free applications in the Google Play Store has increased from 95.6% to 96.9% between 2019 and 2024. This indicates that more app developers are moving towards in-app purchases and subscriptions rather than offering paid apps.

Popular Mobile Application Categories

• Games, Business, Education, Utilities, and Lifestyle are the most popular Apple App Store categories, according to the data from Q3 2022.
• Applications from the Weather and Trivia categories have some of the highest conversion rates for iOS applications.
• Despite being popular, social networking apps and racing games have some of the lowest conversion rates.
• Mobile users in the United States spend most of their time on social media and browsing apps. However, these apps do not add much to the revenue.

Interesting Numbers on Mobile App Markets

Here are some interesting facts about how different app markets contribute to mobile app revenue.

• The average app price on the Apple App Store is $0.79, while an average game will cost you $0.47, making the average total $0.73.
• Between 2019 and 2024, the number of free applications on the Apple App Store has increased by 5%.
• While not the most popular option, the Amazon App Store has close to 500,000 applications.
• Apple App Store charges a whopping 30% commission for standard app purchases through the platform. The commission is applicable for subscriptions as well. However, the commission rates may be lower depending on the business program.
• Even though Google Play charges the same 30% commission for standard purchases, it charges only 15% for subscriptions and some special categories.
• Regarding overall consumer spending, the Apple App Store is on top of the Google Play Store.

Conclusion

These statistics and numbers indicate that the mobile application industry is set to become huge in the coming years. Because developers are now integrating all the new AI features and AR options into the apps, the spending on these apps is also expected to rise.