Report: App Market To Hit $25 Bil By 2015
Techcrunch, Tuesday, January 18, 2011 2:32 PM
Up from about $6.8 billion in 2010, the total global mobile applications market will be worth $25 billion by 2015, according to a new market research report by MarketsandMarkets. As TechCrunch points out:
"The research firm reiterates the various factors that will be contributing to that growth, from advancements in network technologies to the lowering of mobile data usage cost, growing adoption of smartphones around the world, and a continuous increase in application usability." The research firm projects Apple's App Store to hold nearly 20.5% of the pie. Also, while North America has led the market since 2009 with a 41.6% revenue share, Asia is now the largest market in terms of downloads with 36%. What's more, the European mobile applications market stood at $1.2 billion in 2009, but is expected to become the largest market by 2015, at $8.4 billion and growing at a compound annual growth rate of 33.6% from 2010 through 2015. Also of note, on-deck, or carrier-managed apps, now account for approximately 75% of global mobile application revenues.
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"The research firm reiterates the various factors that will be contributing to that growth, from advancements in network technologies to the lowering of mobile data usage cost, growing adoption of smartphones around the world, and a continuous increase in application usability." The research firm projects Apple's App Store to hold nearly 20.5% of the pie. Also, while North America has led the market since 2009 with a 41.6% revenue share, Asia is now the largest market in terms of downloads with 36%. What's more, the European mobile applications market stood at $1.2 billion in 2009, but is expected to become the largest market by 2015, at $8.4 billion and growing at a compound annual growth rate of 33.6% from 2010 through 2015. Also of note, on-deck, or carrier-managed apps, now account for approximately 75% of global mobile application revenues.
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