[Sensor Tower] [Report] 2024 Q2 Digital Market Index
*Sensor Tower*
Press release: September 2, 2024
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[Report] 2024 Q2 Digital Market Index
*You can download the full report for free*
The digital economy continued to grow rapidly in the second quarter, with global consumer spending on mobile apps increasing approximately 12% year over year. Similarly, spending on digital advertising increased by 15% in the US.
Download the full report for free
The growth rate of the digital economy is outpacing the rest of the market.
, is more important than ever. And as digital advertising and mobile become more interconnected, it becomes increasingly important to understand the big picture of this economy and how companies are driving growth.
Sensor Tower’s latest digital market index, created by combining the power of Sensor Tower and data.ai
The report captures the latest trends across mobile app performance, digital advertising, and retail media. On mobile, global consumer spending on apps and games hit a new record of $36.2 billion in Q2 2024, up 11.7% from $32.4 billion in consumer spending in Q2 2023. I did. Meanwhile, U.S. digital ad spending increased 15% year over year to $27.2 billion.
Mobile consumer spending growth accelerates in second quarter for both apps and games
A closer look at what consumers spent in Q2 2024 shows that the majority ($19.7 billion) continues to be spent on mobile games. The recent recovery suggests that mobile gaming is on the mend after years of stagnation, with Q2 2024 marking the fourth consecutive quarter of positive year-over-year growth. The ratio of apps to games is becoming more balanced, with apps accounting for 46% of the total in Q2 2024 and 42% of the total in Q2 2023 a year ago. It is rising from At this point, it is possible that spending on non-gaming apps will exceed spending on gaming next year.
What is driving the rapid growth of such apps? All top categories recorded positive year-over-year growth, with Productivity, Photo & Video, Entertainment, and Utility categories each seeing at least a 20% increase in spending year-over-year. The continued popularity of subscription models, combined with the increasing amount of time consumers spend on mobile and the ease of paying on mobile devices, makes monetization with these apps possible at an unprecedented scale.
Top Apps for Q2 2024 includes many familiar and familiar products. TikTok
is at the top of the rankings in both consumer spending and downloads worldwide. This is all the more remarkable considering that no other app even cracks the top 10 for both of these metrics. The popular social media app from ByteDance has once again broken a single quarterly consumer spending record worldwide, topping $1.3 billion in Q2 2024. As a result, TikTok has launched a mobile game called Honor of Kings
”, it became the second app in history to exceed $14 billion in cumulative spending.
ByteDance’s TikTok and CapCut are five apps owned by Meta (Instagram
, WhatsApp Business
), it has joined the top apps by number of downloads this quarter. This leaves only three of the top 10 apps owned by anyone other than ByteDance or Meta. As the mobile market matures, it becomes
increasingly difficult for new apps to challenge established apps. But that doesn’t mean it’s impossible. E-commerce app Temu jumped into the top five this quarter despite being released less than two years ago. TikTok and Instagram lead US social ad spending growth
U.S. digital ad spend across mobile, desktop, and OTT exceeded $27 billion in Q2 2024, with 3.3 trillion impressions. As a result, this quarter we achieved strong growth rates of 15% compared to the same period last year and 4% compared to the previous quarter. Only Q4 2023 recorded higher ad spend than this quarter due to the peak shopping season in the US. Among social channels, TikTok led the way with a year-over-year growth rate of 28% and Instagram with a growth rate of 23%.
All other markets surveyed saw year-over-year growth of at least 10%, with Australia’s digital ad spend growth exceeding 21%. Supported advertising channels vary by market.
* Want more insights into the digital economy? Download the full report for free*
Read the Q2 2024 Digital Market Index report, highlighting market leaders in mobile and digital advertising across 21 markets in a dynamic and interactive format.
– * Top markets: * North America and European countries present growth opportunities for publishers, China’s mobile market shows recovery
– *Top Categories: *Consumer spending on *all* top app categories* is *increasing*, with many recording growth rates of more than 20% – *Top app: TikTok sets new record for consumer spending* and leads in downloads
– *Top Mobile Games: * *Squad Busters*
Top releases like ” reshape the mobile gaming industry
– *Digital advertising*: U.S. digital ad spending *up 15%
year-over-year*, fueled by ad spending on TikTok and Instagram* – *Retail Media Network: *Home
Home and garden retailers like Depot and Lowe’s ramp up retail media as summer approaches
Further information can be found on our website:
https://sensortower.com/ja/blog/q2-2024-digital-market-index-report-JP
*Introducing Sensor Tower*
Sensor was founded in San Francisco in 2013.
Tower is a company that provides data and analysis environment for mobile apps/games. Trusted by global digital companies such as X (formerly Twitter), Unity, Tencent, and HBO, it is a digital analysis platform that provides store intelligence that helps you understand trends in the mobile market, and advertising intelligence that can be used to optimize your advertising strategy. We provide high-quality insights and advanced customer support for every aspect of mobile.
Sensor Tower was awarded Best Analytics / Best Analytics at Pocket Gamer Mobile Games Awards 2022.
Received the Data Tool Award.
Our Japan office will be relocated to Nippori, Tokyo from the summer of 2023, strengthening our business in Japan, and the number of partner companies is rapidly increasing. We are increasing the number of our staff and will continue to strengthen our customer support.
Sensor Tower Japan Office Representative
Shogo Yachi
Further information about Sensor Tower can be found on our website: https://sensortower.com/ja
Updates on blogs and reports can be found on Sensor Tower Japan X (formerly Twitter):
https://x.com/SensorTower_JP