Mobile market experts data.ai have shared a number of predictions about the industry in 2024, highlighting exciting areas of growth. We’ve picked out 3 key predictions in the areas of AI, microblogging, and monetisation.
This new set of predictions, based upon data.ai’s proprietary mobile market estimates, poses interesting questions and valuable insights for mobile app leaders. Here are the 3 of those predictions:
The influence of Generative AI
data.ai predicts that 2.3 billion app downloads will include Generative AI tools in 2024. The organisation predicts that downloads of platforms which include AI services will increase by 40% year-over-year.
In 2023 alone, downloads of Generative AI apps increased by 9x. This includes a 72x increase in AI chatbot platforms and a 60% increase in apps using AI generally (for example photo editing & video editing platforms).
Interestingly, data.ai identifies that ChatGPT saw increased usage during the work week, highlighting that AI powered platforms can add value to businesses as well.
A decline in microblogging
Microblogging, the act of sharing short pieces of text content online, is set to face a decline in 2024, according to data.ai.
X, a prominent platform in the microblogging space, is predicted to see its Daily Active Users drop to 250 million, down 66 million from its peak in July 2022. A similar downward trend was identified for Threads.
data.ai points out that the trend among social app users is towards video & photo focused-platforms, as opposed to text-based apps. This is part of TikTok’s growing popularity.
This is particularly relevant when it comes to news content. 43% of U.S. TikTok users say they get their news on the video-focused platform, double the amount as 3 years ago. Whereas on X, news-seeking users have dropped from nearly 60% to just 53% in the same period.
“Video-first news is now king”, data.ai predicts.
Change in revenue strategy
Social apps have historically relied on advertisements to generate revenue. data.ai predicts that in-app purchases will grow in popularity as a strategy for these platforms to generate revenue.
One significant way to foster more in-app purchases is the ability to to gift to other users & tip content creators. TikTok started off this movement, and Youtube and Instagram have followed suit.
Other ways of encouraging in-app purchases is keeping premium features behind a paywall. data.ai highlights that X has trialled premium features such as ad blocking and account verification, as it seeks to generate revenue outside of advertisements.