A $17 billion industry? Yeah, there's an app for that.
A new report suggests that in 2 short years, the market of mobile phone apps will explode into an industry that generates $17.5 billion in revenue, and it's going to climb at an exponential rate.
Mobile app provider GetJar released an analysis of the market that said it expects mobile downloads to go from 7 billion in 2009 to over 50 billion in 2012. And that $17.5 billion figure they're predicting? That number was only $4 billion last year.
"The global market for wireless applications will soon be worth more than the market for traditional music," said GetJar marketing head Patrick Mork. "That's pretty significant when you think the market barely existed a couple of years ago."
The first to really revolutionize the idea of mobile apps, previously a non-user-friendly tech-head niche market, into something of common parlance was Apple. The iPhone App Store singlehandedly turned around the way mobile apps were approached.
Other platforms followed suit, like the Android Market and a streamlined platform for Palm and Symbian, and now it's just a matter of time before the explosion of apps happens.