Adjust Finds 119% YoY Revenue Increase In Finance Apps Globally, Indicating Sustained Sector Growth Through 2024

Rhea-AI Summary

Today, Adjust released its Finance app insights report, revealing a 119% YoY increase in revenue for finance apps, driven by tech advancements, user spending, and engagement. The report highlights a promising growth trajectory for the industry through H2 2024, with significant contributions from Europe and LATAM. Cryptocurrency apps saw a 196% YoY increase in installs, reflecting renewed interest. Other key insights include a 36% YoY increase in Q1 2024 app installs, a 23% rise in sessions, and substantial growth in mobile payments and banking. The APAC region stands out with the lowest eCPI at $0.63, compared to the global median of $1.21. ATT opt-in rates also rose from 18% to 25% YoY in Q1 2024. Download the full report for more details.

Positive

• 119% YoY increase in finance app revenue in Q1 2024.
• 196% YoY increase in global crypto app installs from 2022 to 2023.
• Finance app installs up 36% YoY in Q1 2024.
• Finance app sessions increased by 23% YoY in Q1 2024.
• Bank app installs surged 111% YoY in Q1 2024.
• Payment app sessions rose 27% YoY in 2023, with session lengths up by 12% YoY in Q1 2024.
• APAC region has the lowest eCPI at $0.63, indicating favorable growth conditions.
• ATT opt-in rates increased from 18% in Q1 2023 to 25% in Q1 2024.

Negative

• None.

Insights

Financial Analyst

The 119% YoY increase in in-app revenue for finance apps globally, particularly in regions such as Europe and LATAM, suggests a robust growth trajectory. This trend highlights significant momentum in digital financial solutions, which is important for investors to note. The rise in installs and sessions shows increased user engagement and conversion, which are positive indicators of market expansion and user acquisition strategies.

From a financial standpoint, the surge in cryptocurrency app installs by 196% YoY also indicates a renewed interest in this segment. This resurgence could lead to increased competition and innovation in the crypto space, potentially providing lucrative opportunities for both existing and new market entrants. However, investors should remain cautious about the inherent volatility of the crypto market, which could impact the sustainability of this growth.

The APAC region presents a particularly attractive investment opportunity due to its low eCPI of $0.63, compared to the global median of $1.21. This low cost per install indicates a favorable environment for growth and could lead to higher profit margins for app developers and marketers targeting this region.

In summary, the financial outlook for finance apps is positive with strong signs of growth and increased user engagement. However, the volatility in the cryptocurrency market and the ongoing competition in the finance app space need to be considered.

Tech Expert

The report highlights the importance of leveraging next-generation measurement approaches, such as incrementality and media mix modeling, which are becoming essential tools for finance app marketers. By understanding these metrics, marketers can optimize their campaigns more effectively, potentially leading to better ROI.

Moreover, the rise in App Tracking Transparency (ATT) opt-in rates from 18% to 25% indicates that users are becoming more comfortable with sharing their data. This trend is important for app developers and marketers as it enhances their ability to track user behavior and tailor personalized experiences, which are key to user retention and maximizing lifetime value.

The shift towards digital-first financial solutions is underscored by the increase in mobile payment and banking app usage. The surge in bank app installs and payment app sessions illustrates this growing trend. Investors should note the importance of secure and user-friendly digital experiences, as these factors will be critical for apps looking to maintain and grow their user base.

Overall, the technological advancements and increased user engagement are positive indicators for the finance app market. However, staying ahead in terms of innovation and user experience will be important for sustained growth.

Market Research Analyst

The data provided by Adjust indicates a significant shift towards digital finance, with increased usage of finance apps globally. This growth, driven by higher user engagement and spending, points to a sustained market expansion. The detailed regional analysis, particularly the success in Europe and LATAM, provides a clear picture of where finance app developers should focus their efforts.

The renewed interest in cryptocurrency apps also suggests that the market is receptive to innovation and new financial technologies. Investors should watch for emerging trends and shifts in user behavior to stay ahead of the curve. Additionally, the low eCPI in the APAC region suggests a cost-efficient growth opportunity that should not be overlooked.

The continued rise in ATT opt-in rates is also significant as it suggests a growing trust among users regarding their data privacy. This is vital for the future of personalized marketing strategies and could lead to more effective user acquisition and retention methods.

In conclusion, the finance app market shows strong potential for growth, driven by technological advancements and increased user engagement. However, investors should remain aware of regional differences and the evolving landscape of user preferences.

New Finance app insights report shows renewed interest in crypto; details how tech advancements, increased user spending and engagement will drive industry growth

SAN FRANCISCO--(BUSINESS WIRE)-- Today, leading measurement and analytics company Adjust released its Finance app insights report showing a global finance app industry poised for growth in H2 2024 – driven by technological advancements, increased user spending and engagement, and strategic market expansions. In-app revenue for finance apps in the first quarter of 2024 increased 119% YoY, underscoring their robust growth trajectory, especially in regions like Europe and LATAM, where effective user engagement and monetization strategies are visibly paying off. The report also indicates a renewed interest in cryptocurrency trading and management as global crypto app installs soared 196% YoY from 2022 to 2023.

Finance app average revenue per monthly active user by region in 2023; Source: The finance app insights report 2024, Adjust |

“Despite the tumultuous economic conditions of recent years, the outlook for the remainder of 2024 and beyond is promising,” said Tiahn Wetzler, Director, Content & Insights at Adjust. “By leveraging next-generation measurement approaches, such as incrementality and media mix modeling, alongside traditional attribution, finance app marketers can unlock new avenues for growth. Emphasizing secure, user-friendly experiences with a focus on personalization will be crucial in retaining users – maximizing lifetime value and driving sustained success.”

The finance app insights report provides finance app marketers and developers with key insights, including:

• Significant global finance app growth in 2024. Q1 installs were up 36% YoY and sessions were up by 23%.
• Rise in mobile payments and banking illustrates shift towards digital-first financial solutions. Bank app installs surged 111% YoY in Q1 2024; payment app sessions increased 27% YoY in 2023, with session lengths up by 12% YoY in Q1, highlighting their essential role in daily transactions.
• The APAC region is primed for growth. While the median effective cost per install (eCPI) for finance apps was $1.21 globally, APAC had the lowest eCPI at $0.63, indicating a favorable growth environment.
• App Tracking Transparency (ATT) opt-in rates for finance apps have continued to climb globally from 18% in Q1 2023 to 25% in Q1 2024.

For additional findings and analysis, download the full report here.

About Adjust

Adjust, an AppLovin (NASDAQ: APP) company, is trusted by marketers around the world to measure and grow their apps across platforms, from mobile to CTV and beyond. Adjust works with companies at every stage of the app marketing journey, from fast-growing digital brands to brick-and-mortar companies launching their first apps. Adjust's powerful measurement and analytics provide visibility, insights and essential tools that drive better results.

SOURCE: Adjust

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627094885/en/

Adjust

Joshua Grandy

pr@adjust.com

Source: AppLovin Corp.

FAQ

What was the YoY revenue growth for finance apps in Q1 2024?

The YoY revenue growth for finance apps in Q1 2024 was 119%.

How much did global crypto app installs increase YoY?

Global crypto app installs increased by 196% YoY from 2022 to 2023.

What is the expected growth trend for finance apps through 2024?

The expected growth trend for finance apps through 2024 is positive, driven by tech advancements, user spending, and engagement.

How much did finance app installs and sessions rise in Q1 2024?

Finance app installs rose 36% YoY, and sessions increased by 23% YoY in Q1 2024.

Which region has the most favorable growth conditions for finance apps?

The APAC region has the most favorable growth conditions for finance apps, with the lowest eCPI at $0.63.

What was the increase in ATT opt-in rates for finance apps from Q1 2023 to Q1 2024?

ATT opt-in rates for finance apps increased from 18% in Q1 2023 to 25% in Q1 2024.