Mobile Applications Market Essay

1677 words - 7 pages

Mobile Applications Market

The 21st century has seen the rise of mobile applications through the technology of smart phones .The mobile apps market is very elastic and continues to expand each and every day. The mobile market has a wide variety of applications that no matter what type of interests you may have, there is something for you. Outlined further in this report will outline the demand for these apps, trend analysis, current market status, success stories and lastly the end users.
It was in June of 2008 when Apple Inc released its 3G Apple Iphone which featured support for third party applications. Then only a short month later the Apple app store was created. This took ...view middle of the document...

What can be determined are the types of apps which were initially available on the day of the App store release. Of the 500 programs readily available, 33% were games, the rest were combinations of education programs, mobile commerce and business productivity tools. Another thing to note, that 90% of these apps were under $10 on opening day. An Article was released in early 2011 which gave comparatives of Apps stores revenues for all 4 major competitors (Apple, Blackberry, Google Android and Nokia). The results for 2009 of total revenue combined for all four markets tallied to 828 million dollars. Then in 2010 a 160% market increase in total revenue earned coming in at 2.15 billion dollars. The leading competitor was apple with 82.7% or 1.78 billion of total market revenue.
The current economic status of the mobile applications market is static. The market has been penetrated heavily over the past few years with apps that cover a wide variety of consumer preference. The market is limited to those of breakthrough applications which could see huge equitable returns. The revenue of the 4 global app stores will continue to rise as more and more people are upgrading to smart phones. Back in 2007-2008 when applications were first introduced, majority of people using smart phones were predominantly business oriented people simply using it for emails and web browsing. You would rarely see a teenager with a blackberry or an Iphone, because of the sheer cost of one of these devices. On average to buy black berry not through the deals given by the big telecommunication companies would run you over 500 dollars. This was a risk most parents weren’t about to give their kids. To further illustrate this point, a chart was compiled by Gartner Newsroom to show Smartphone units sold. In 2009 the global market sales for smart phones was only 172 million. Move forward two years and that number has increased a jaw dropping 272% to 468 million and is forecasted to further increase to 631 million by 2015. So you can see just how popular and the direction of cell phones are heading in the future, and with these statistics also promises big things for mobile application companies as they will be seeing nice return on equity with more and more phones in the Market.
To grasp just how profitable this mobile industry can be for developers, I have found a humorous success story as I like to call it. A man by name of Joel Comm, like most human beings seem to find bodily function sounds particularly funny. He was the inventor of a top 20 selling app called IFart. His story started when his app was released on December 12th, 2008. In just a two week span, he could have never imagined this much success. The App was selling for 99 cents per download and sold over 100,000 units. To date over 1 million apps have been sold. These types of success stories are all over, the main success these companies have is that they charge only .99 or 1.99. When look at economic trends these...

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