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

How a Digital-First CEO Leads Transformation

Some leaders reject the notion that "wait and see" is the best response to disruptive change. Savvy senior executives are already driving digital business transformation throughout their organization in an effort to gain a bold strategic advantage. According to the latest market study by International Data Corp (IDC), Digital-First CEOs plan to drive at least half of their income from digital business products, services, and experiences by 2027 -- that's ahead of the market average of 39 percent. Driven by their response to the COVID-19 pandemic, these business leaders have changed how they think about the relationship between business and technology, and how they approach the next digital transformation era -- from scaling digital technology to guiding a viable digital business. Digital Business Market Development IDC defines digital business as value creation based on technology, which entails: 1) Automated customer-facing processes and internal operations; 2) Provision

Digital Solutions for Industrial & Manufacturing Firms

Executive leaders of fast-moving consumer goods (FMCG) are seeking guidance on how to apply new business technology in their manufacturing operations. CIOs and CTOs are tasked with gaining insight into the best solutions for digital transformation. ABI Research evaluated the impact politics, regulation, the economy, supply chain, ESG, and technology are having on FMCG, pharma, producers of steel, chemicals, pulp and paper -- as well as the mining and oil & gas sectors. Digital Transformation Market Development "Our assessment found that the FMCG sector is under pressure from all sides," says Michael Larner, industrial & manufacturing research director at ABI Research . Securing raw materials is challenging considering lockdowns in China and limited grain supplies from Ukraine. Supply shocks are raising input costs, and operating costs are rising with higher energy costs coupled with the pressure to pay higher wages and work sustainably. "We all hoped that with th

5G Fixed Wireless Access Revenue to Reach $24B

Available Internet access at an affordable cost is essential for everyone to participate in the Global Networked Economy. The deployment of fifth-generation (5G) wireless communications infrastructure is enabling the introduction of lower-cost broadband services in some markets. Fixed Wireless Access (FWA) allows mobile network operators (MNO) to deliver high-speed Internet connections in areas that have either insufficient or no prior wireline broadband access services. It's also used in urban, suburban, and rural areas where fiber optic communication is considered too expensive to install and maintain. With this new technology, MNOs have the potential to provide broadband capability at similar levels to fiber optic networks. Fixed Wireless Access Market Development Therefore, FWA can be used to supplement existing wired broadband Internet service offerings, provide additional broadband capacity, or act as a backup service for home or business applications. Although FWA is well es