Skip to main content

How Mobile App Stores Created a $6.6 Billion Market

According to the latest market study by Portio Research, over the last 2 years the mobile app store revolution has exploded from zero to a $6.6 billion market in 2010, and this rapid revenue growth is forecast to continue over the next 5 years.

With stakeholders making huge investments to improve the quality and utility of mobile apps, the worldwide mobile phone applications user base is expected to grow at a CAGR of 37 percent between 2009 and 2015 -- to reach nearly 256 million by 2015.

Between 2009-2015, mobile application downloads are expected to increase at a CAGR of 53.2 percent, while global revenue from mobile applications -- including in-app payments -- will grow from $6.6 billion in 2010 to over $23 billion by 2015.

Smartphones allow users to download, install and run advanced applications. The increased consumption of mobile applications has resulted from the growing worldwide smartphone user base, that enables more service subscribers to sample and adopt mobile apps.

Furthermore, the success of Apple's iPhone App Store has inspired others to open storefronts. Today, there are a rapidly increasing number of app stores in the global market.

The ecosystem encompasses application developers, aggregators, mobile operators, handset and operating system (OS) vendors, and application store owners -- the apps market is witnessing both consolidation and the formation of consortia to better challenge Apple's app supremacy.

Used by both the consumer and enterprise segments, and seeing impressive uptake in both developed and emerging markets, mobile applications are changing the nature of the mobile phone services industry.

Popular posts from this blog

Securing the Future of Cellular IoT Apps

The Internet of Things (IoT) continues to expand. According to the latest worldwide market study by Juniper Research, they forecast a 90 percent growth in cellular IoT devices by 2028, with the global number reaching 6.5 billion. This exponential rise presents both exciting opportunities and significant challenges. While the growth of cellular IoT unlocks a vast potential for innovation in smart cities, industrial automation, and remote monitoring, it also requires device management and security advancements. Cellular IoT Market Development Juniper's research highlights the critical role of intelligent infrastructure management solutions. These platforms will empower the users to automate critical tasks such as device configuration, real-time security management, and optimized wireless connectivity. The surge in cellular data usage, projected to reach 46 petabytes by 2028 compared to 21 petabytes today, further underscores the need for automation. This is where federated learning i