Mobile Solutions Industry going Strong as App Sales Soar in 2012
The market for mobile solutions is booming, and according to a new report, sales of mobile apps are reflecting that boom in a big way, eWeek reports. Research from Berg Insight found that app downloads more than doubled in 2012, from 29.5 billion worldwide to 60.1 billion.
Revenue from those apps has been staggering – including both direct app sales and in-app ad revenue, mobile applications generated a total of $8.4 billion in 2012. That figure is expected to grow 17 percent each year until 2017, eventually reaching $18.6 billion.
One area in particular where sales have ballooned is the gaming market. A marked increase in game sales on the Android, iPhone and iPad, among others, has led to a rapid rise in profits. Even though most games are free to download, they are still big money-makers for the mobile industry thanks to in-app purchases and ad sales.
Entrepreneur Joshua Pastore is a big believer in the profitability of the game industry, and he says the rest of the mobile market could learn from the success of gaming.
"The trick is to get people to find the game initially," Pastore said. "This can be achieved by cross-advertising in other games or apps."
The Apple App Store and Google Play both saw surges in their sales numbers for 2012, but third-party stores have thrived as well, especially overseas.