Mobile application development is over $25 billion
industry annually and is growing at a fast pace. Smartphones are the way of the future and have become the tool by which people access
information on the go and communicate with each other. Mobile
applications are considered to be the soul of any smartphone. Which is
why due to the surge in the smartphones market, there has also been an
exponential growth in the mobile application development industry. With so many mobile OS platform coming into picture, the need for mobile applications to sustain these platforms has increased day after day. There are
reports that have suggested that this software industry is slated to
grow at the same rapid pace and would exceed $100 billion by 2015.
Smartphones nowadays have become mobile PCs as users like to access
information on the go. These devices are capable of doing anything that a traditional PC can do, which is why they hold an important ground.
Although the market of mobile apps is increasing but
there is no denying the fact that the revenue generation is becoming
much difficult in this ever competitive industry. It has become a big
hurdle for mobile app developers which they would have to overcome in order to sustain themselves.
The development of a software is one thing but
actually generating some revenue out of that application involves some
skill set. With a variety of of products and services out there, it is
difficult to gather substantial userbase and audience so as to monetize
your own product.
There have been real time case studies that have
shown how difficult it has become to monetize applications along with
sustaining large userbase. There are many developers who have faced a
similar issue on the iOS app store. The recent figures state that the
top grossing applications on the app market does not contain a single
paid application. Same is the case in the Google play store, which has
been reeling under pressure of its non-ability to generate revenue from
applications.