In 2024, consumer expenditure on AI applications reached approximately $1.1 billion, positioning them for potential inclusion in the top 10 spending categories within the next year.

According to Sensor Tower's 'State of Mobile' report, spending on AI apps, including popular platforms like ChatGPT and Gemini, experienced a remarkable increase of over 200%.

Global app spending surged to $150 billion in 2024, marking a 13% rise from the previous year, as detailed in the same report.

The full report from Sensor Tower, which focuses on the iOS App Store and Google Play while excluding third-party app stores, is available on their website.

E-commerce applications Temu and Shein emerged as the top two retail apps in 2024, driven by their successful expansion into European, Latin American, and Asian markets.

Despite a slight decline in engagement for streaming apps, other categories such as cryptocurrency and fintech experienced significant growth, with overall finance apps seeing an 8% increase and 7.5 billion downloads.

Notably, cryptocurrency apps like Binance and Tonkeeper entered the top 10 finance apps by downloads, highlighting the sector's robust performance.

In a remarkable achievement, five mobile games surpassed $1 billion in consumer spending in 2024, including titles like Last War and Brawl Stars.

AI applications, particularly those featuring the term 'AI', were downloaded 17 billion times in 2024, with ChatGPT alone boasting 50 million monthly active users.

The consistent consumer demand for AI apps throughout 2024, coupled with the launch of new models such as OpenAI's GPT-4o, contributed to record app revenue and 7.7 billion hours spent on AI applications.