The mobile market has apparently been growing at a pace that is faster than any of Google’s previous predictions which has them seeing $1 billion in mobile revenues alone, inevitably pulling the growth of mobile applications that is predicted to have a market value of a whopping $38 billion by 2015. Google CEO Eric Schmidt reckoned that the advent of mobile devices has come with consumers creating a big demand as they access the Web on their smart phones, tablets and the like.
Internet use on mobile devices has become more popular in recent times, seen with the search spikes of Super Bowl ads. Chrysler had 48 times more searches on traditional computers than normal and 102 times on mobile searches, GoDaddy.com with 38 times on desktops, but booming at 315 times more mobile searches. Schmidt has even revealed that they see 200 million mobile views on YouTube daily. Display ads, on the other hand, are seen to earn around $200 billion within 10 years on mobile devices as long as appropriate platforms are used, currently the most effective being Facebook. Mobile web for Google has been growing steadily at 30% every quarter, up to nine times faster than on desktops.
Applications were backed by Apple when it first introduced the iPhone, and now with 350,000 applications in the app store and growing, it promises stiff competition against its rivals as they scramble to catch up. The overall application market has globally earned $1.7 billion in 2010, where the average cost of a paid application is priced at 2.43 USD, smart phone users making up 33% of monthly downloads. With Google, RIM, and Microsoft ready to roll out their own versions of Apple’s App Store, the amount and profit from applications are expected to go even higher. Should Apple be able to keep even just 50% of the market, a third of their total income would be purely from application revenues, translating into almost $2 billion.
Compared to mobile web and apps, mobile commerce is much younger but is also starting to take off with the introduction of new technologies like NFC. Even without such advancements, the industry does well on its own. Amazon is selling goods worth $1 billion on mobile devices, and eBay is producing sales virtually every second in 2010′s last quarter that amounts to $2 billion, which is not surprising seeing that 78% of smart phone owners use their gadgets to shop.
Google is still the leading search engine, also on mobile, and Schmidt has suggested that no matter what device is used, the relevance of its results is still the most essential.