A report from ABI Research predicts that total revenues from the global mobile app market will surpass $30 billion by the end of 2012. The cumulative sum includes in-app purchases, subscriptions, in-app advertisements, and pay-per-download items.
The $30 billion figure includes all previous years from which app market revenue can be counted, but it is “nearly double” the amount as of the end of 2011, meaning that nearly half of all revenues came this year.
“Consumers’ high interest in apps has for 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 senior analyst Aapo Markkanen in a press release. “We’re no longer talking only about a short-term gold rush. Apps have become a major digital industry.”
The report credited both Apple and Google for creating and promoting the mobile app market through their mobile operating systems. Although Apple was first with a centralized app store, Markkanen estimated that about one-third of mobile app revenues now go to Android developers.
Consumers are becoming more comfortable with mobile payments in general. A different report from IDC Financial Insights, summarized by Bank Systems & Technology, predicts that global purchases made with mobile devices will pass $1 trillion by 2017. This figure includes digital media for mobile devices as well as traditional e-commerce done through mobile devices, sometimes called m-commerce.
The IDC report said that e-commerce would be the main driver of mobile spending, followed by point-of-sale payments and peer-to-peer exchanges. The adoption of near-field communication (NFC) will bolster point-of-sale purchases as it enables the smartphone to become a holder of digital account information that can be exchanged with a cash register at a retail location.
Zco Corporation is a custom software company with headquarters in Nashua, New Hampshire, USA specializing in mobile app development, enterprise software, and 3D animation.
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