That may be the lower side of things.
Apps are the soul and heart of any mobile operating system, and arguably thee most important factor in driving smartphone sales. So it comes as a no surprise that Apple’s App Store, which is the largest app store currently, is pegged to generate close to $2 billion in gross revenue, according to Citibank.
That number may actually be quite low. Garnter believes that global app market in 2010 totaled to $4 billion, and that revenues will climb to a whopping $27 billion over the next two years.
Citibank also states that smartphone sales grew 53% in 2010, though growth for 2011 is expected to slow down to 29%. Probably mostly everyone has a smartphone now anyway.