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Mobile apps market to top $29B by 2015

Posted: 03 Aug 2011 ?? ?Print Version ?Bookmark and Share

Keywords:mobile applications? smartphone? downloads?

In-Stat has released a new report titled "There's an app for that: Smartphone application market overcrowded but downloads continue to rise" that says significant pricing pressure, as well as a shift towards free applications will call for new revenue models.

New products, players and business models have contributed to a rapidly-increasing and continually-evolving mobile applications market. In-Stat forecasts that the mobile applications market revenue will cross $29 billion by 2015. However, while new opportunities were created, the growth flooded the market and created new challenges for the industry.

Mobile apps download
IN-Stat has also released a report that sees mobile application downloads reaching 48 billion by 2015. Learn more about the report.

"Largely spurred by the launch of the iPhone, mobile applications have been a strong growth market over the past several years. The large number of available applications has sparked an increasing rate of downloads,"�said Amy Cravens, senior analyst at In-Stat. "As the market matures, developers and app stores must take innovative approaches and compete across multiple platforms to attract users. While the market will become more competitive in the coming years, there is a broad base of interested parties with a vested interest in promoting continued market growth," she added.

The report found out that in December 2010, the number of applications in the Apple App Store reached 350,000, while applications in the Android Market reached 80,000. The market analyst firm says that by 2015, mobile application downloads will reach about 48 billion and total smartphone shipments will grow to more than 45 percent from the 2010 figure of 23 percent.

The survey also revealed that the average amount paid for a mobile app was under $2.50. However, smartphone applications are not only about 3G. Almost half of the survey respondents report downloading applications over WiFi.

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