If ever proof was needed that smartphone adoption is unstoppable, new research has shown that the number of mobile apps downloaded between 2010 and 2015 is expected to reach 98 billion - growing at an annual compound rate of 56.6 per cent.
According to new projections from Berg Insight, revenues from smartphone software are also expected to rise rapidly - reaching €8.8 billion by 2015. This is despite the fact that most public-facing mobile phone apps are free to download. Johan Svanberg, senior analyst at Berg Insight, said: "Free to download monetisation strategies such as in-app advertising and in-app purchasing will be increasingly important."
Mr Svanberg's comments follow hot on the heels of a report by Juniper Research that showed contactless payment technologies were set to boost the mobile transactions marketplace three-fold in the coming three years. In fact, the market is expected to exceed £110 billion by 2015 as consumers adopt mobile technology in favour of traditional PCs and laptops.