Revenue from global mobile app store downloads will top $15 billion this year, research firm Gartner has estimated.
The company said that consumer app downloads in 2011 will hit 17.7 billion, a 117 per cent increase from the speculated 8.2 billion downloads in 2010.
According to Gartner, app store revenues will reach $15 billion in 2011, a 190 per cent increase from the $5.2 billion recorded in 2010. This figure, Gartner said, combines the money generated through app sales and the revenue generated by developers via advertising on their apps.
The company further expects that consumers to have download around 185 billion apps by the end of 2014.
"Many are wondering if the app frenzy we have been witnessing is just a fashion, and, like many others, it shall pass. We do not think so," Gartner analyst Stephanie Baghdassarian said.
“We strongly believe there is a sizable opportunity for application stores in the future. However, applications will have to grow up and deliver a superior experience to the one that a web-based app will be able to deliver.”