Just in case you were in any doubt, mobile apps are big business and will reach $3.8 billion in sales this year, according to research firm IHS iSuppli. That’s a healthy 77.7 percent increase over 2010, and more than an 18-fold increase over 2008. And the rapid growth will continue, IHS iSuppli predicts, climbing to $5.6 billion next year, $6.9 billion the year after that, and $8.3 billion in 2014.
The message is clear: If you’ve been holding off creating a mobile app for your business waiting to see if the whole thing is just a fad, it’s time to stop waiting. Look for ways to add in-app sales, such as upgrades or new content, which IHS iSuppli says will be a key source of revenue growth. And, if you’re only planning an iPhone/iPad app, you might want to plan some more.
Apple’s App Store continues to dominate the field, accounting for more than three quarters of this year’s app revenue. But by 2014, that will have fallen to 60 percent, IHS iSuppli predicts. This year alone, Google’s Android Market will nearly triple its revenues, beating out Blackberry App World for second place.
By the way, if you’re wondering how many mobile app downloads it takes to reach $3.8 billion in sales, IHS iSuppli predicts just over 18 million of them, almost twice as many as in 2010.
Read more from IHS iSuppli.