What’s the Mobile App Market Worth?

By 2015, International Data Corporation (IDC) predicts that 182.7 billion mobile apps will be downloaded, close to a 1600% increase from the 10.7 billion apps downloaded in 2010.  This impressive figure can be attributed to increases in smartphones and apps- both free and paid- that will continue to occur in the mobile market.

The top two app stores on the market today- Apple’s App Store and Google’s Android Market- account for 19.5 billion apps downloaded so far.


Apple’s App Store

In the App Store, which currently has over 425,000 different apps for download, 15 billion apps have been downloaded, up 50% from 10 billion in January 2011 and up 400% from 3 billion in January 2010.  Reports indicate that the average iOS device owner will buy 61% more apps in 2011 than a year ago, totaling 83 app downloads this year, and be willing to pay 14% more for paid apps than a year ago.  82% of mobile apps for download are free.


Google’s Android Market

In the Android Market, which is home to over 200,000 apps, 5 billion apps have been downloaded since launching in 2008, up 50% from 3 billion in May 2011 and up 350% from 1 billion downloads in August 2010.  In just under two months from May to July 2011, over a billion apps for Android were downloaded.


Time Spent on Mobile Apps

And with all these downloads, it makes sense that smartphone users are spending more time using mobile apps than surfing the Web, according to a recent study by Flurry. Time spent on mobile apps per user jumped 88% to 81 minutes from June 2010 to June 2011, while time spent web browsing only increased 16%.


In Conclusion

The mobile app market is expected to be worth $14.1 billion next year and jump 160% to $36.7 billion in revenue from direct sales, in-app purchases and mobile app advertising in 2015. However, these estimates may be understated given the tremendous growth of the mobile app industry in recent years.