The mobile application market is growing rapidly and many reports are saying that this market will reach to billion dollars in future. The smart phone, 4G mobile and 3G mobile phone sales are increasing day by day. Due to this, the market for mobile apps is increasing very fast during these days.
According to predictions released by IHS iSuppli, mobile applications will experience dramatic growth globally over the next 12 months.
The firm estimates that the sector’s total revenue will increase by 81.5 per cent over the year, resulting in income that surpasses $3.8 billion. The firm is saying that, however, the driving force behind this massive expansion is the growing popularity of freely downloadable mobile applications.
HIS iSuppli refers this as the Freemium business model, in which mobile apps are available free of charge, but the company charges a separate fee to access premium content, services or enhanced usability. Mobile app developers have seen great growth in revenue over the course of the past two years, including a 160 per cent increase from 2009 to 2010, when revenue rose from just $828 million to $2.2 billion. Google’s Android is seeing the most rapid growth, and the Android Market has now become the third most popular place to purchase mobile apps.
And another research firm Forrester research estimates that revenue from mobile apps sales will be 15 million dollar in 2011 and it will reach to 38 billion dollars by the end of 2015 March. Most of the profit is generated from the smart phones and also from the tablet mobile phones.
