Apps on smartphones started out as just a novelty when the App store launched but as they became more advanced and actually starting serving a useful purpose for the real world, thats when the money started rolling in. Now that it only takes moments to find an app for literally almost anything, from controlling your finances to finding a game to kill time while you wait for the bus, Apple’s App store has turned into a huge success. And the success of the store doesn’t seem to slowing down anytime soon according to recent report.

The App Store is expected to bring in upwards of $2 billion dollars of gross revenue in 2011 according to report from Citibank’s U.S. Internet Stock 2011 Playbook. But a research firm, Gartner, believes that number too be off. The firm believes that in the global market the App Store for 2010 was $4 billion, and could reach as high as $27 billion in the next 2 years. Despite all of this, Citibank still believes that the growth of the smartphone will slow down in 2011, but that’s going to stop anyone from buying new apps daily for phones they already own. Do think the success of the App Store will continue to climb at such a rate or will it level out in the near future?

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[Source: BGR]

Authors: V_Geek

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