According to a study conducted by Juniper Research, the revenue generated by mobile apps will grow to $32 billion by the next five years. This will be the combined revenue from pay-per-download (PPD), value-added services and advertising.
The revenue generated in 2009 was just under $10 billion. The company estimates that 85% of the apps that are downloaded are free. Apple has claimed that 4 billion apps are downloaded from its App Store, generating about $1.5 billion. This proves that the market for mobile app will continue to grow steadily.