Mobile App Development Supporting a Million Jobs in Europe
Published on: 12th Aug 2014
Europe's mobile app market accounts for 19% of global revenues and is growing strongly at a 12% annual rate. However, it is growing slower than the rest of the world, according to a report by VisionMobile.
The global app economy is growing at 27% annually and the share of revenues captured by developers in the EU is falling. The research firm estimates that around 1 million European jobs have been created by the app economy so far
The 19% share of the global USD86 billion app market in 2014 generated by European developers will contribute $16.5 billion to EU GDP this year.
Although the European app economy is growing at less than half the global rate, the report says that some loss of share was unavoidable. Europe was very quick to reach high levels of smartphone penetration and most of the device sales growth is in developing markets.
On the upside, European developers are well placed to export to English-speaking markets and South America but it's not so easy for them to succeed in Asia.
The report concluded by warning that to ensure that Europe makes maximum gains from the future growth of the app economy, policymakers need to do all they can to keep app entrepreneurs from relocating to Silicon Valley in order to access the expertise and capital they need to compete.
Tags: mobile apps