Mobile AI apps now represent a $2B market, and ChatGPT (still) leads the pack

Market Overview: The mobile AI application market has reached $2 billion in value, with ChatGPT emerging as the clear market leader.

• ChatGPT has generated $529 million in revenue since its mobile app launch in May 2023
• The app’s earnings are nearly quadruple those of its closest competitor
• U.S. consumers account for approximately half of all AI app sales

Growth Trajectory: The mobile AI app market experienced remarkable expansion throughout 2024.

• Total spending on AI apps reached $1.4 billion in 2024
• This represents a nearly fourfold increase compared to 2023
• Market momentum accelerated during the fourth quarter of 2024

Market Analysis: The rapid financial success of mobile AI applications suggests a significant shift in consumer behavior and technology adoption patterns.

• The $2 billion milestone highlights growing consumer willingness to pay for AI services
• ChatGPT’s dominance indicates strong brand recognition and user preference for established AI platforms
• The concentration of spending in the U.S. market points to potential growth opportunities in other regions

Future Implications: The substantial revenue generated by mobile AI apps, particularly ChatGPT, indicates a maturing market with room for continued expansion and innovation in the mobile AI space.