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As an increasing number of mobile devices are developed with web connectivity and sensors, the demand for accompanying mobile apps will grow rapidly.Combined with explosive growth in consumer adoption of smartphones, tablets and wearable technology, the Io T is having an enormous impact on the global app economy and is expected to drive the development of millions of new apps.Firstly, between now and 2020 there will be strong mobile app adoption in developing economies.The second key driver will be the fact that app users in developed economies will continue to spend more money and new and existing apps.Whilst Android is successful in terms of device penetration in developing economies, the Apple App Store still rules when it comes to revenue generation. It’s estimated that in the next 12 months Apple will lose it’s position in terms of gross revenue leadership to Google Play.In 2017 it’s predicted that a combination of Google Play and third party Android app store revenue will surpass Apple’s overall contribution to the global app economy.It’s estimated that the global app economy will be worth in excess of 0 billion between now and 2020.Key insights from the recent App Annie ‘App Economy Forecast’ suggest that the overall value of the global app market is set to continue it’s impressive growth trajectory.
Western mobile markets are now displaying strong growth in terms of increased monetisation and use of existing mobile app products.
The revenue for global mobile app store activity is set to reach billion in 2016 and reach over 0 billion by the year 2020.
There are two key drivers that are causing growth within the overall app economy.
Again, much of this growth is being triggered by new device adoption from within developing economies, with countries such as China and India driving much of the growth.
Android plays a crucial role in this explosive growth trajectory through the proliferation of affordable mobile devices in developing territories where current device penetration is still growing at a rapid rate.