In 2022, the global mobile marketing market size was estimated at around 327 billion U.S. dollars, and by 2024, this figure is expected to reach 400 billion, according to Statista. Each year sees a double-digit increase in mobile ad spending, with the United States standing out as the global leader in leveraging mobile technology for promotional purposes.
As we delve into 2024, Alexander Kryvosheiev, CEO of mobile performance network Mobmio with over 500+ million mobile users, leveraged his experience of collaboration with hundreds of mobile apps to determine factors that are shaping the mobile landscape for Martech.
The Rise of Super Apps
Local and international companies are investing in the development and expansion of super apps, promising users a more integrated and efficient mobile experience. Examples of these super apps would be WeChat, META, and other companies offering a one-stop shop for everything from connecting with friends to selling your products on a secondary market (like Facebook Marketplace).
According to Grand View Research, in 2022, Android-based super apps dominated the market. However, it is expected to rise at a CAGR of 28.0% between 2023-2030. The surge is driven by increased internet and smartphone accessibility, along with the growing adoption of e-commerce and digital payments.
Super apps are offering users a comprehensive experience by integrating multiple services into a single platform. Going beyond traditional functionalities, these apps combine messaging, e-commerce, ride-hailing, and more.
Super apps engage users more effectively by consolidating diverse services into a seamless platform so that users don’t need to leave the platform. They also provide multiple cross-marketing opportunities for promoting products inside the ecosystem.
Mobile E-commerce growth
This past year, the number of brand sales through the mobile traffic channel increased by more than 15%, and gross merchandise value (GMV) sales increased by 6%, according to Mobmio data.
Apps that acted as partners and generated sales for brands earned 34% more in the US in 2023 than last year. Businesses continue optimizing their platforms for mobile accessibility and mobile payment solutions, experimenting with AI, AR, and other technologies.
Partner marketing for app growth and monetization
Affiliate marketing emerges as one of the key instruments for app growth in 2024, providing a cost-effective means to expand an app's reach. Collaborating with partners through platforms leads to increased installs, higher user engagement, and potential revenue-sharing opportunities.
The affiliate marketing channel also gives mobile apps an additional monetization stream. Mobmio estimates that global revenues of mobile partners grew by 20% in the first half of 2023 - and the second half of the year is expected to show even stronger growth in app revenue from affiliate sources.
The quality of traffic matters
Both mobile applications and brands are placing a heightened focus on the quality of traffic.
In 2024, the development of proprietary anti-fraud systems or partnerships with contractors, such as affiliate networks and agencies, capable of addressing this concern will be crucial for app owners. It is now more important than ever that companies are competing for quality leads and higher-paying customers rather than just increasing their user base.
Alternative lead sources
As competition intensifies, alternative mobile traffic sources, such as messengers and TikTok, will continue to gain prominence in 2024. The sales share through these platforms is expected to grow, and mobile applications are actively utilizing them to expand their user base. The high engagement levels and inherently mobile nature of these platforms provide nearly seamless user acquisition channels for applications.
The mobile landscape for 2024 is promising to reshape individual connections, consumer behavior, and engagement with digital services. Aside from these trends, expect the continuous adoption of AI applications and advancements in foldable or flexible displays.
The Internet of Things (IoT) will play a more prominent role, connecting devices for a seamless user experience. Consideration of privacy concerns and potential regulatory changes will also influence the trajectory. The evolving landscape signals a shift toward increased connectivity and partnerships and a search for more quality traffic sources.
By Alexander Kryvosheiev
CEO, Mobmio
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