“Nearly five years after Apple Inc. kicked off the mobile-apps craze, the industry is booming.
App stores run by Apple and Google Inc. now offer more than 700,000 apps each. With so many apps to choose from, consumers are estimated to spend on average about two hours a day with apps. Global revenue from app stores is expected to rise 62% this year to $25 billion, according to Gartner Inc.
The apps industry has matured in some respects. Some of the Wild West tactics of five years ago—like scams to accrue more downloads—have given way to more order as Apple and others tighten their rules. App developers are more methodical about marketing their apps and focusing on the few apps that work best.
For every Instagram, the wildly popular photo sharing app that Facebook Inc.FB -0.40% bought for $1 billion last year, there are hundreds of thousands of apps that don’t catch on.
As the battlefield shifts to new geographies, new categories and new devices, developers are still trying to figure out which business models are the most profitable….”
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