Mobile App Industry Set for Record Revenue in 2013
As a sign of the increase in the mobile app industry, newly released projections are now calling for a 62% revenue increase at app stores, bringing the total industry revenue to a record amount of $25 billion in 2013 - according to an article on Mobile Zone.
A major driver of the expected growth is the increasing presence of smartphones on the worldwide market. The Mobile Zone article cites statistics predicting, “that more smartphones than feature phones will be shipped worldwide - 50.1 percent of the total mobile phones shipped, or 919 million units.”
Other noteworthy points raised in the article include:
- Apple apps still make over three times the revenue of Android app counterparts, although Android is quickly gaining ground and expected to “hold the greatest amount of market share in the mobile app industry” by 2016.
- The mobile apps industry, which used to primarily be U.S. based, is shifting market strength to China, Japan and South Korea.
- Mobile apps users have doubled the amount of time they spend on their apps from an hour a day in 2011 to two hours a day in 2013.
- Users focus on a small number of apps at a time, usually around eight.
- “App usage shifts rapidly - 63% of apps a consumer uses daily are different from the apps they used a year ago.”
Each of these trends is significant in its own right, and a real sign of the current potential available in the mobile app development industry. According to the article, mobile app developers are responding to the trends by “focusing on developing a quality user experience and improving the performance of their apps”, instead of simply churning out apps, as was the common practice not too long ago. This includes aspects like fully integrated mobile strategies, responsive design and user experience design.
What opportunities do you see for your app or business in the current app economy?