September 5, 2024. Vyom Chaud.
Income from advertisements continues to fuel the mobile app industry. According to the numbers presented by NoKyc.com, ads are expected to contribute almost 66 percent of the entire revenue for mobile apps in 2024. Furthermore, the share of revenue from ads is expected to grow even more in the coming years.
Ads are responsible for two-thirds of the global revenue of mobile apps. These figures come from the latest Statista report on mobile apps. As per the analysis, mobile apps are expected to make USD 522.73 billion in global revenue in 2024. This figure represents a healthy year-on-year increase of 11.9 percent on USD 467.08 billion earned in 2023.
In 2024, ads are expected to bring USD 344.11 billion in revenue for apps, making up 65.8 percent of overall annual revenue. In-app purchases are expected to bring in another USD 172.53 billion, or 33 percent of the overall revenue. Revenue from payments for paid apps is expected to be just USD 6.09 billion – 1.2 percent of total revenue.
As compared to 2023, the ad revenue is expected to grow by more than 12 percent in 2024. It’s worth observing that the share of ad revenue as part of the overall revenue has increased steadily over the years. This trend is expected to continue in the coming years but at a slower rate. For example, in 2018, ad revenue was USD 100.77 billion, making up 50.2 percent of the overall revenue. In the last
six years, the rate of growth in ad revenue has performed better than the rate of overall growth. In 2024, as per the estimations, ad revenue is set to reach 65.8 percent of the total annual revenue.
If we look into the coming years, the overall annual revenue is set to grow to USD 673.78 billion in 2027. Ad revenue is expected to grow up to USD 451.38 billion by the same year. Thus, the share of ad revenue as part of overall revenue is expected to grow up to 67 percent.
Vyom Chaud left his IT job to follow his love for soccer. He has been writing about the beautiful game for the last 6 years contributing articles to The Daily Mail, Vocal, Fan Sided and many other publications. He can spin stories with numbers and thinks data is beautiful. An avid Arsenal fan, he spends most of his time dissecting the nuances of the game. He has played football, cricket and badminton at an amateur level.
