360° Coverage : Mobile App Revenue Expected To Hit $30 Billion

Mobile App Revenue Expected To Hit $30 Billion

By the end of the year

Nov 26 2012, 5:00am CST | by

Mobile App Revenue Expected To Hit $30 Billion
Photo Credit: Getty Images

The amount of money that people spent on mobile apps will topple $30 billion in 2012, according to a new report from ABI Research. The market continues to expand rapidly and almost at exponential proportions.

"Consumers’ high interest in apps has for a long time been obvious from download volumes, but it’s 2012 that will go down in history as the year when the economic side of the business finally took off," said ABI Research senior analyst Aapo Markkanen in a statement.

The total dollar amount includes money paid for premium apps, as well as in-app purchases for downloadable content, and monthly revenue generated from subscription-based apps. In addition, it also counts the money pouring into developers' bank accounts from advertisers.

According to Markkanen, Apple will account for nearly two-thirds of all app revenue this year. It should be noted that this fraction has slowly diminished. Back in 2008, of course, "app revenue" was a term practically only used by the iPhone, so Apple was grabbing virtually a 100% market share.

Markkanen pointed out Google's growth specifically as a key reason why the entire market is so much bigger this year. Clearly, though, Apple still holds the biggest piece of the pie.

The $30 billion figure accounts for lifetime sales of mobile apps, dating back to the introduction of Apple's App Store in 2008. However, more than half of that revenue came from 2012 alone. So who knows what 2013 will bring?

Via LA Times

 
 
 

<a href="/latest_stories/all/all/6" rel="author">Mark Raby</a>
With more than 10 years as a professional writer, Mark Raby has an undeniable pulse on the latest trends. From the quiet rumors to the breaking news of the day, his eagle eye is always focused on the newest scoop and figuring out how and why the big newsmakers are noteworthy and relevant. He is based in New York City.

 

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