A recent survey has forecast that mobile applications will be outselling CDs by 2012.
The survey, which was carried out by Chetan Sharma Consulting, predicts that the number of application downloads will rise from 7 billion this year, to 50 billion in 2012.
The CEO of GetJar, who commissioned the survey stated, "With the consumer appetite for mobile apps rocketing, the opportunities for developers are huge."
The average selling price for a mobile phone application in 2009 was $1.90, the study says. Over the next three years this figure is predicted to decrease by 29 per cent however, advertising revenue derived from apps is likely to remain constant.
Whilst today, advertising-based revenue accounts for only about 12 per cent of app revenue, by 2012 this figure is expected to rise to 28 per cent. For platforms such as Google's Android, advertising revenue is predicted to be even bigger than profits from paid downloads.
According to the survey, by 2012 "offdeck" apps that are offered independently from a carrier will account for almost 50 per cent of all app revenue.
The survey certainly provides an insight into why the technological world is so excited about the possibilities that the mobile phone application market represents.
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