Statistics for Mobile App Industry Boom

Statistics for Mobile App Industry Boom

THE  MOBILE BOOM

With the Dot Com boom in recent memory many companies are looking for the next big wave in marketing technology. With the advent of smartphones and other “smart” devices like the ipad and tablets, consumers now have multiple ways to view their favorite website and increasingly, favorite app.

 Although internet growth is still robust, mobile adoption is in its early stages with an astonishing room for growth. Mary Meeker of Kleiner Perkins Caufield & Byers released her extensive report covering the 2012 tech trends. She was forthcoming about the growth and impact of mobile and the “reimagination” of devices from web to mobile with increasingly responsive and complex UI. Meeker reiterates what we have been seeing in recent reports… Mobile is the next big thing.


Statistics of Mobile App Industry Boom

According to the US Local Media Forecast released in 2012, mobile local ad revenues will grow from $1.2 billion in 2012 to over $9.1billion in 2017, as reported by the BIA/Kelsey Group. This represents a fraction of the U.S mobile ad spending, which is predicted to grow to $16.8 billion in 2017. Although internet and other kinds of media still have a healthy growth as emphasized by Meeker’s report, mobile is experiencing the largest growth. Furthermore, mobile monetization is growing rapidly, experiencing a jump in mobile app and ad spending from $0.7 billion in 2008 to $19 billion in 2012. As the clarity on the importance of mobile apps grows, so does the spending on the development of mobile apps and mobile ads.

Statistics of Mobile App Industry Boom

This is due largely in part to the consumer base, Generation Y consumers, which make up most of the 18-24 demographic. Gen Y is characterized by the desire for ease of use and access, immediacy, reimagination, and FOMO, or fear of missing out. These are reflected in the mobile industry, specifically through mobile apps. Mobile apps deliver what you want at a tap, are catered to your specific desire, live at your fingertips on your smartphone, and with push notifications you will never miss out on the newest Apple update, breaking news, or the latest product, sale, happy hour, or performance from your favorite apps. Mobile apps make it possible for Gen Yers to manage business, and their social life while simultaneously finding directions, purchasing tickets, browsing sales, ordering food, and booking flights and hotels from the new personal assistant-their smartphone. Mobile apps were formed around the desire for ease of use and immediacy that has become culturally and communicatively important.

It is this reimagination of technology and incorporation of our cultural communication trends into technology Generation Y and The Mobile App IndustryGeneration Y and The Mobile App Industry
that has led tothe popularity of mobile devices and mobile apps over websites. Mark Zuckerberg, Founder/CEO of Facebook elaborated on the significance of this in a letter to potential shareholders in May 2012, “We hope to rewire the way people spread and consume information… We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services”.  Erick Tseng, the head of mobile products at Facebook stated that Facebook will, “become a mobile company”, according to CNET. It is the reimagination that large companies such as Facebook have caught on to, that is creating a stronger marketplace for the distribution of information and marketing of businesses of all sizes in a variety of industries.

It is without a doubt that mobile is the innovative communication technology that grew out of the internet boom. With every novel and creative technology there are many predictions, expectations, doubts, and FOMO, but it is clear that all signs point to mobile as the road ahead.

 

Source Citings:

http://www.biakelsey.com/Company/Press-Releases/130404-U.S.-Mobile-Local-Ad-Revenues-to-Reach-$9.1-Billion-in-2017.asp

 http://www.marketingprofs.com/charts/2013/10515/us-mobile-local-ad-forecast-9-billion-in-2017

 http://blog.mobileroadie.com/2012/12/incorporate-mobile-business-marketing-strategy/

 http://news.cnet.com/8301-19882_3-20112451-250/facebooks-mobile-czar-were-a-mobile-company-but-no-ipad-app…yet/

 http://www.slideshare.net/kleinerperkins/2012-kpcb-internet-trends-yearend-update#

 http://www.zdnet.com/blog/facebook/facebook-were-going-to-become-a-mobile-company/4157

 http://www.zdnet.com/blog/facebook/facebook-ceo-mark-zuckerberg-mobile-app-is-top-priority/12901

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