Six or seven years ago the mobile app scene was nowhere near what it is today, both in scale for the amount of apps available as well as in revenue. Today, mobile apps are a massive business raking in tons of cash for developers on a daily basis. Granted, not all developers are making millions, but there are some of the top developers out there on mobile platforms which are making quite a bit of revenue for their insanely popular offerings. This business is only expected to grow over the next five years as it's predicted by Ovum in their latest report for mobile app revenue to reach an excess of around $79 Billion by the year 2020.
This is essentially equal to a growth of 2.2 times what it is now according to Ovum's numbers, which is quite a bit, compared to the $36 Billion in app revenue from last year. While app revenue is expected to see a huge growth spurt over the next five years, app downloads are also predicted to see huge growth as well with there being two and half times more app downloads between the years of 2016 and 2020 than between 2008 and 2015, which makes sense if the app revenue is to increase to more than twice the amount that was recorded on a global scale from last year. Both in-app purchases and users spending more time with the apps that they download will have an effect on the increase.
Based on these numbers of revenue increase for mobile applications, the amount that's expected to be made between 2016 and 2020 is more than three times that of the amount that was made between the years of 2008 and 2015, showcasing that smartphones and mobile apps have become more a part of our day to day lives than some consumers might actually realize. The amount of app downloads at the end of this next five-year stretch is expected to be in the realm of 378 billion, compared to the 211 billion application downloads that were recorded for the year of 2015, and according to the report China will be responsible for the majority of the app downloads and installs between 2013 and 2020.