7 Profitable Mobile Apps To Develop in 2024

The mobile app development landscape is dynamic, constantly evolving with technological advancements and shifting consumer preferences. As technology advances, so does the mobile app industry.  As we step into 2024, the demand for innovative and functional mobile applications is higher than ever. In 2024, there will be a variety of mobile apps that offer great potential for businesses and developers alike. From e-commerce to social media, there are a plethora of mobile apps that can be developed to increase profits and help businesses reach their goals. 

In this article, we will discuss seven of the most profitable mobile apps that could be developed in 2024.  By the end, you should have a better understanding of the potential of mobile apps in 2024 and which ones to consider developing.

Mobile App Development Trend in Numbers

Here are some facts and figures about the mobile app industry:

• The global mobile app market is projected to attain $756 Billion by 2027 at a CAGR of 8.58.

• On average, smartphone users spend around 4-5 hours a day using mobile apps.

• By 2025, revenue from mobile apps is expected to increase across most segments and reach a total of around $613 billion.

• A typical smartphone user accesses around 9-10 apps daily and 30 apps monthly.

• Mobile applications account for 85% of the total time spent on smartphones by users.

• Mobile app usage is expected to grow at a CAGR of 20% between 2021-2024, reaching 352.9 billion app downloads by 2024

The booming mobile app industry is seeing a surge in demand, driven by the production of featured smartphones and a growing number of app users. Consumers are seeking out apps that offer innovative features and cater to their needs, resulting in a broadened market for user-centric applications. This is causing startups, small businesses, SMEs, and enterprises to make substantial investments in mobile app development to better serve their customers. The demand is clear, and this underscores the significance of identifying and teaming up with a reputable mobile app development company in Dubai like Royex Technology, to ensure the creation of a high-performing, user-friendly app. 

E-Commerce Shopping App

The e-commerce shopping app industry is predicted to experience significant growth in the coming years, with the Global E-Commerce Market projected to reach USD 7.67 trillion by 2024, and the number of mobile users shopping via apps projected to grow by more than 56%. This growth can be attributed to increased internet penetration, improved logistics, and a wide range of payment options. Additionally, the increased use of mobile devices and the prevalence of social media has enabled more people to access and make purchases through e-commerce shopping apps. AI, AR/VR, and blockchain technologies are expected to be incorporated into these apps, providing customers with personalized recommendations, a more immersive and interactive shopping experience, and secure financial transactions. Companies in this industry will need to remain agile and continually innovate to stay ahead of the competition.

Grocery Delivery Apps

Grocery delivery apps are becoming increasingly popular as technology advances and more people are looking for ways to save time and money. In 2024, it is expected that grocery delivery apps will be even more popular, with more people embracing the convenience, speed, and cost savings of having groceries delivered right to their door. According to a survey by Statista, the revenue from grocery delivery apps is predicted to reach $68.3 billion by 2024. This is a significant increase from the $22.6 billion reported in 2019. 

Moreover, the number of grocery delivery app users is projected to grow from 1.54 billion in 2020 to 2.13 billion by 2024. This shows that more and more people are turning to grocery delivery apps to save time and money on their shopping trips. Furthermore, the increasing popularity of grocery delivery apps is also expected to lead to a rise in demand for delivery drivers and revenues. This is because the demand for immediate delivery is growing, as people increasingly look to have groceries delivered to their door as soon as possible.

Food Delivery App

Food delivery apps have become increasingly popular in the last decade, and it is projected that this trend will continue into 2024. By 2024, the global food delivery market is projected to reach $196.4 billion. This is mainly driven by the increasing number of people using delivery apps, the growth of online food ordering, and the trend towards more convenient and cost-effective food delivery services. 

In particular, the development of mobile apps has had a major impact on the food delivery industry. Mobile apps provide an easy and convenient way for customers to order their food and restaurants to keep track of orders. Moreover, with the introduction of new features such as real-time order tracking and payment processing, customers can now experience a more seamless and efficient delivery service. Overall, the food delivery industry is set for a major transformation by 2024, and the development of mobile and AI-based technologies will be a key driver of this growth.

However, for optimal results, it is best to partner with a mobile app development company like Royex that can keep up with evolving market trends and provide the ideal solution.

Fitness App

In 2024, fitness apps are expected to be a highly profitable business due to the increasing popularity of remote workouts and the increasing use of technology to monitor fitness. According to a survey conducted by Statista, the global fitness app market was valued at $8.8 billion in 2020 and is expected to reach a value of $15.5 billion by 2024. This growth is largely driven by the increasing demand for fitness-tracking applications and virtual training programs. With many individuals now having to adjust to a new normal of remote workouts, fitness apps are becoming an increasingly popular way of tracking and managing one’s fitness goals. Furthermore, fitness apps are becoming increasingly user-friendly and accessible, allowing users to track their fitness progress on the go through their smartphones. This increasing user base is expected to drive the growth of the fitness app market in 2024, making it a highly profitable business.

Video Streaming Apps

Video streaming apps have become increasingly popular in recent years and are projected to become even more profitable by 2024. According to a market report, the video streaming market is expected to reach $124.57 billion by 2024, growing at a CAGR of 19.1% from 2019 to 2024. This growth is largely attributed to the rapid adoption of advanced technologies, such as 5G, AI, and IoT, by streaming services. Additionally, the growing demand for on-demand streaming services, such as Netflix and Hulu, is driving the market. Moreover, the rising demand for high-quality content, better user experience, and personalized recommendations is also expected to fuel the growth of the market. Furthermore, the increasing prevalence of smartphones and tablets is expected to drive the growth of video-streaming apps in the coming years. As such, video streaming apps are expected to be a profitable business in 2024.

Generative AI Apps

Generative AI Apps are becoming increasingly profitable in 2024 due to their ability to create more efficient products and services for businesses. Generative AI Apps are able to automatically generate solutions to problems, thus reducing the cost and time spent on manual processes. For example, AI-based Apps can generate millions of possible solutions to a problem in minutes, which would take a human worker hours or even days to do. Additionally, AI Apps can be trained on a variety of data sets, allowing them to generate accurate results and predictions, as well as providing personalized customer experiences. According to a survey by Accenture, 73% of businesses across all industries believe that AI will create more jobs than it destroys. In addition, it is estimated that AI will add $13 trillion to the global economy by 2030. This shows that Generative AI Apps are becoming an increasingly profitable business in 2024, and will continue to provide businesses with high-quality solutions and services.

Online Real-Estate Buying and Selling App

Online real estate buying and selling apps are set to become increasingly profitable in 2024 as the industry continues to shift towards digital and mobile transactions. The current trend towards remote working has seen a surge in demand for online real estate services, with a corresponding increase in revenues. According to research, online real estate services are set to reach an estimated $254 billion by 2024. This trend is being driven by an increasing number of people looking to purchase homes and properties online, in addition to the rise of online real estate investment opportunities. The increasing use of artificial intelligence and machine learning technologies by real estate companies is also expected to contribute to the profitability of these apps in 2024. Furthermore, consumers are increasingly turning to apps for advice on mortgage rates, property taxes, and other related issues. The increased level of trust in online real estate services is expected to further fuel the growth of this sector in 2024.

In Conclusion, as we navigate through 2024, the mobile app development landscape is rife with possibilities. Whether you're delving into any sector, success lies in creating apps that not only meet user needs but also anticipate and exceed their expectations. Keep a keen eye on user experience, emerging technologies, and industry trends to ensure your mobile app stands out in the competitive market, providing value and driving profitability in the dynamic world of mobile applications.

Why Choose Royex Technologies For Mobile App Development in Dubai

Established in 2013, Royex Technologies is a leading app development company in Dubai, that provides innovative solutions for small, medium, and large-scale companies. At Royex Technologies, we stand out as a premier choice for mobile app development in Dubai, and our commitment to excellence is what sets us apart. We prioritize innovation and leverage cutting-edge technologies to ensure that our clients receive bespoke and top-notch mobile solutions. What makes us unique is our dedicated team of experienced professionals who approach each project with a personalized touch. We understand that every client has distinct needs and aspirations for their mobile app, and we at Royex make it our mission to transform those visions into reality. With a track record of successful mobile app developments across various industries, we take pride in our ability to deliver high-quality, scalable, and user-friendly applications. When you choose Royex Technologies, you choose a partner that is dedicated to your success, providing comprehensive mobile app development services tailored to your specific requirements and ensuring a seamless journey from ideation to deployment.

Check our portfolio to see our previous works. Contact us via email at info@royex.net or call us at +971566027916. To get started with us.