Apple has been the main channel for converting apps into money
The global mobile application market is expected to surpass $30bn by the end of 2012, which is nearly double the revenue generated in 2011, according to a new report.
ABI Research's new Market Data reveals that the revenue will be generated from pay-per-downloads, in-app purchases, subscriptions, and in-app advertisements.
ABI Research senior analyst Aapo Markkanen said consumers' high interest in apps has for long time been obvious from download volumes.
"We're no longer talking only about a short-term gold rush," Markkanen said.
"Apps have become a major digital industry."
Apple has been the main channel for converting apps into money and has released the compatible OS in addition to well-executed distribution and billing mechanisms.
"Google deserves a lot of credit for rehabilitating its proposition as an app distributor in the past year or so," Markkanen said.
"If the old Android Market was a garage sale of the industry then the new Google Play has begun resembling a respectable department store.
"We estimate the Android developers' share of the annual app revenues to set around one-third."