According to a new study released on Monday, mobile applications downloaded from online stores will be a $58 billion worldwide business by 2014. This AFP report focused on the study, highlighting that tablet computers such as Apple’s iPad are driving the surging market.
This figure represents a significant increase in the $5.2 billion that was spend on mobile applications in 2010, reports Gartner (News 
- Alert), a technology consultancy. The firm predicts that there will be 17.7 billion applications downloads this year, which is more than double the 8.2 billion downloaded in 2010.
The firm also anticipates that by the end of 2014, the number of applications downloaded since 2008 will have reached 185. And, while the average number of downloads to mobile phones is expected to remain stable, the firm suggests that media tablets are assumed to be responsible for driving more downloads from consumers in the future, which will boost the overall average downloads per device.
Gartner also said that mobile application revenue was generated both by fees paid for downloads and the developers’ advertising revenue.
Soaring growth in this space is partly driven by new stores emerging to compete with Apple’s AppStore. Nokia and Research in Motion (News - Alert) are both unveiling new offerings.
According to the technology consultation firm, free downloads will account for roughly 81 percent of total mobile application store downloads in 2011. Applications bringing in revenue through a purchase price will also rise as people become more trusting of existing billing mechanisms.
Applications releases are constantly capturing TMCnet headlines as companies seek to grab some of the opportunity in this space. Earlier this month, it was reported that Rapidsoft Systems developed VoIP mobile applications for free-long distance calling in Canada. The company partnered with a major Telecom Operator for this offering.
For its part, Phantom EFX has bolstered its portfolio of quality slot machine games with its release of several applications catering to both the Apple App Store as well as the Android (News - Alert) Market.Phantom EFX has introduced a full range of fun and affordable apps for gamers on mobile devices such as iPhone, iPod touch, and iPad, BlackBerry (News - Alert) or Droid.
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Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.Edited by
Tammy Wolf
