互联互通，智能生活：2025年中国移动互联网用户趋势

Investment Rating - The report does not explicitly state an investment rating for the mobile internet industry Core Insights - The overall user scale of China's mobile internet remains stable, with a projected growth in mobile internet users reaching 1.12 billion by mid-2025, reflecting a growth rate of approximately 1.1% [3][4] - The report highlights the stability of top applications, with a significant overlap among the top 100, 500, and 1000 apps, indicating a mature market [6][7] - AI applications are experiencing rapid growth, with AI-enabled smartphones accounting for over 51% of the market by mid-2025, showcasing a 380% increase in activation [14][15] - The short video segment is expanding, with a notable increase in user engagement and a demand for high-quality content [19][20] - The smart hardware market is thriving, driven by government subsidies and a growing consumer interest, with a projected market size of 793.8 billion yuan in 2025 [45][46] Summary by Sections Mobile Internet User Trends - The mobile internet user base is projected to grow steadily, reaching 1.12 billion by mid-2025, with a growth rate of 1.1% [3][4] - The report indicates a consistent increase in mobile internet users, with a year-on-year growth of 2.1% to 2.2% [3] Application Landscape - The overlap among the top applications remains high, with 88.0% for the top 100 apps, indicating a stable competitive landscape [6][7] - The report identifies the top six industries with significant monthly active user growth, including AI and short videos, with growth rates exceeding 200% for leading applications [9] AI Integration - AI applications are rapidly gaining traction, with over 5 billion AI-enabled smartphones expected by mid-2025, marking a 380% increase in activation [14][15] - The report emphasizes the importance of identifying new opportunities in AI applications based on maturity and frequency of use [16] Short Video Growth - The short video segment is characterized by diverse user preferences, with a demand for high-quality content despite its "fast food" nature [19][20] - Key factors influencing short video viewership include engaging plots and high production quality, while common reasons for abandoning shows include poor storytelling and lack of originality [25][23] Smart Hardware Market - The smart hardware market is experiencing robust growth, with a 20.5% increase in shipments in the first half of the year and a projected market size of 793.8 billion yuan by 2025 [45][46] - The report highlights the increasing variety and sophistication of smart hardware products, driven by consumer demand for interconnected devices [47][48]