May 30, 2007 (01:05 PM EDT)
U.S. Mobile Applications Market Forecast To Reach $9 Billion Soon
Read the Original Article at InformationWeek
New research indicates that the U.S. mobile applications market will grow to $9 billion by 2011.
Compass Intelligence, a consulting and market analytics company, forecast that U.S. businesses would spend about $3.8 billion on mobile applications this year. That includes custom-coded wireless packages, productivity tools, enterprise resource planning tools, e-mail, and security applications. The Compass findings (available through subscription), announced Wednesday, also predicted double-digit annual growth through 2011.
Compass predicts U.S. annual growth rates in the market to be between 20 and 37% from 2006 through 2011. The company also forecasts major trends in sophisticated and business-oriented devices that enable collaboration. Popular applications will also deliver SMS/text messaging, content relationship management programs, project management software, and file-sharing.
"Because of the converged world of communications, applications and mobile applications are creating huge buzz and interest in the market," Stephanie Atkinson, managing partner at Compass Intelligence, said in a prepared statement. "Service providers must get into the mobile applications game by either developing new relationships with software vendors or developing in-house solutions that work across mobile devices."
Compass predicts that government and professional services businesses will be the top two spenders, accounting for 59% of U.S. spending on mobile applications this year, but small business and enterprise businesses will be the largest spenders through 2011.
The predictions are consistent with similar predictions from last year, when Compass predicted that businesses would increasingly embrace mobile technologies.
Compass specializes in segment and vertical market intelligence for high-tech, IT and telecommunications industries.