Maya Robertson
The third quarter of 2024 marked a milestone in the digital economy, showcasing unprecedented growth across mobile apps, digital advertising, and retail media. According to Sensor Tower’s Digital Market Index report, global consumer spending on mobile apps surged to record levels, breaking $100 billion faster than ever before in 2024. This remarkable acceleration in mobile and digital advertising reflects the growing dominance of mobile-first economies and the evolving habits of consumers worldwide.
In Q3 alone, global consumer spend across iOS and Google Play exceeded $38 billion, a 12.4% increase year-over-year. For the first time in history, mobile users worldwide reached the $100 billion spend threshold on September 5, almost a full month earlier than in 2023. By the quarter’s end, mobile consumer spend surpassed $110 billion, underscoring the massive growth potential in app-based ecosystems.
Per the report, mobile apps continued to dominate consumer interest in Q3 2024. Apps alone accounted for $17.7 billion in spending, with an impressive year-over-year growth rate of 25%. While games still commanded a higher share at $20.4 billion, their growth rate was modest at 3.2%, signaling a shift in consumer behavior towards broader app categories.
Geographically, Europe emerged as the fastest-growing region, with consumer spending soaring by 25% year-over-year. North America followed with 13% growth, while Asia posted a more subdued 6%. Notably, the U.S. maintained its status as a key market, contributing $1.54 billion in growth, surpassing Europe’s total gains despite its slower percentage growth.
TikTok shattered records in Q3 2024, achieving $1.5 billion in consumer spending—an all-time high for the short-video platform. This impressive figure reflects its mastery of in-app purchases and subscription-based monetization strategies. Meanwhile, Instagram reclaimed its top spot in downloads, displacing TikTok, and Meta’s Threads secured a position in the top 10 for the first time.
AI apps also gained momentum, with ChatGPT climbing into the top 10 most-downloaded apps. Google Gemini’s rapid rise further cemented the influence of AI in the app market. Collectively, AI-driven apps, including chatbots and art generators, saw over 360 million downloads and generated $315 million in consumer spending, with quarter-over-quarter increases of 15% and 26%, respectively.
The digital advertising sector also showed robust growth. U.S. digital ad spend across mobile, desktop, and OTT platforms reached nearly $30 billion in Q3 2024, reflecting a 10% year-over-year increase. This growth trajectory is expected to culminate in record-breaking ad spend during the holiday season.
International markets mirrored this upward trend, with notable increases in ad spend across the UK (+10%), Germany (+7%), and Canada (+6%). Two new markets—Japan and South Korea—also contributed significantly, showcasing the expanding global footprint of digital advertising.
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