Mobile App Market Continues to Expand

Thanks to Will Hurwitz for today’s post!

In their first meeting in the movie The Social Network, Sean Parker tells a rapt Mark Zuckerberg “You don’t even know what the thing is yet. How big it can get, how far it can go.”

In 2011, Sean Parker (or maybe even Justin Timberlake) might make the same statement about mobile applications.  Because you know what’s cool? A $38 billion market.

We suspect both Sean Parkers like mobile apps

According to a recently published Forrester Research Report, that’s how much consumers will shell out for smartphone and tablet applications by 2015. If the analysts are right, that means what’s currently a $1.7 billion industry will balloon by over 22 times within the next few years.

Mobile alumni engagement has strong tailwinds

We think that’s pretty cool.  By the numbers, that means mobile could soon be larger than a lot of other mainstream industries.

Film: In 2010, people spent almost $32 billion on tickets for all movies released worldwide.

Online advertising: Marketers spent approximately $26 billion hawking goods and services online in 2010.

And we can’t find another market that rivals mobile applications on both sheer size and growth rate.

The latest market data and projections, our own experiences with mobile applications, and our discussions with market leaders tells us that mobile applications are here to stay.

Custom built to optimize constantly evolving mobile phone hardware, we’re convinced that native applications for platforms like the iPhone and Android will become the primary medium through which consumers interact with their phones.

Ever True!

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