Cumulative mobile app revenue is expected to reach $30 billion this year, according to a new report from ABI Research. This number is almost double app revenues 2011. This number includes revenues generated from app sales, in-app purchases, subscriptions, and in-app advertisements.
“Consumers’ high interest in apps has for long time been obvious from download volumes, but it’s 2012 that will go down in history as the year when the economic side of the business finally took off,” said Aapo Markkanen, senior analyst at ABI Research, in a statement. “We’re no longer talking only about a short-term gold rush. Apps have become a major digital industry.”
While Apple has been the company to make this whole market place possible, Markkanen said that Google has stood out this year in particular. Markkanen estimates that about a third of annual app revenues come from Android developers. “If the old Android Market was a garage sale of the industry then the new Google Play has begun resembling a respectable department store,” Markkanen added.