Apps- wsj
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The app industry is booming! Apple got the industry off the ground about 5 years ago and today, global revenues from Apps are expected to hit $25 billion. While Apple gave the industry its start, Google and Apple’s stores today are about equal in number of apps catalogs and usage but Apple still dominates in terms of revenue, making about 3x what Google brings in. Microsoft, Blackberry and Amazon are also getting in on the app craze to some degree.
Some of the massive growth in apps is due to the fact that when they started out, they were just for smartphones. Today, we have apps for tablets and television also. The app turnover rate is quite high as well; The article states that about 63% of apps used today differ from the apps being used just one year ago. Consumers tend to be intrigued and perhaps download a wide variety of apps but in actuality, only use about 8 of those apps. With such a high number of apps available to the consumer and still more being thought up and put into the market every day, the pressure is on to create something truly unique that will add utility to consumers’ day to day lives.
It's amazing to me that it's a 25 billion dollar industry when so many of the apps are low-priced or free!
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