The ever burgeoning sales of smart phones powered by Android; iOS and Windows operating systems is enabling a boom in mobile applications in India. And as per a recent report, it has been revealed by 2016, mobile apps will trigger a market worth Rs 3800 crore.
As per The Indian Council for Research on International Economic Relations (ICRIER), the current market of mobile apps in India is to the tune of Rs 900 crore or $150 million, and is showing immense potential to expand like anything.
As per the report, the current market will expand 4 fold in next 2 years, and enable introduction of entirely new era of mobile apps, which has been never seen or observed before.
ICRIER Director and Chief Executive Rajat Kathuria said during a broadband conference organized by Sri Lanka-based think tank Lirne Asia “India is on the cusp of a data revolution that will be led by mobile as has been the case with voice. A number of factors favour an app revolution in India — the existence of developers, a billion connections, a deficit in service delivery through conventional means and a competitive mobile market combined with a serious attempt to address regulatory constraints,”
As per the report, there are 3 lakh application developers in India presently. And almost 100 million applications are downloaded every month! By 2016, out of Rs 3800 crore application market, paid apps would contribute nearly Rs 2065 crore.
As per industry watchers, 44 million or 4.4 crore smart phones were sold inside India last year, out of which Samsung cornered massive 38%, and 100% of them was powered by Android. Micromax is not far behind, as it captured 16% market share of smartphones, powered by low cost sub $100 units.
Additionally, 35 lakh tablets were sold during the same period in India.
By the end of 2014, it is expected that more than 60 million smartphones would be shipped inside India.
Such huge numbers of smartphones and tablets sale in India means that there would be more and more Indians with high powered gadgets, hungry for content. And this content would be fulfilled by applications.
The report by ICRIER clearly suggests that this hunger of content such as games, utilities, news, entertainment and education on smartphones is only going to expand.
This is certainly an exciting news for mobile application developers, creators and digital entrepreneurs. What, as per you, will drive this incredible growth of mobile applications in near future? Do share your views by commenting right here!